AGP Executive Report

Rare Earths Push: Viridis Mining placed a long-lead equipment order for its Colossus rare earths project in Brazil, aiming for 2028 production after completing a definitive feasibility study and securing up to US$120m in equity funding. Pre-Feasibility for Uberaba: Rainbow Rare Earths and Mosaic started a pre-feasibility study for Uberaba in Minas Gerais, using phosphogypsum waste and targeting a maiden JORC resource estimate, with study work expected to finish in 2H 2027. Tax Policy Watch: India’s BRICS summit is behind a delay to Brazil-relevant GST Council timing, with the meeting moved from Sept. 12 to Oct. 7. Payments & Fintech: Ant International won a Payment Institution licence in Brazil from the Central Bank, expanding PIX and cross-border payment/account services for merchants and SMEs. Energy & Trade: Bloomberg reports Chinese oil demand is lifting crude prices globally, with spillovers felt from the Middle East to Brazil as Hormuz disruptions keep markets tight. Food Prices: FAO says August global food prices rose 1.9%, with sugar up 11.9%—citing El Niño impacts and lower Brazil output.

Pix Under Tariff Pressure: Lula says he will defend Brazil’s Pix instant payments system in talks with US President Trump amid a tariff dispute, urging Washington to “use Pix” and see how it works. Oil & Gas Services: Oil States Brasil won a three-year Petrobras subsea contract for maintenance, inspection, integrity analysis and intervention support across offshore assets. Energy Market Watch: Opec’s secretary general reiterated that stabilizing oil markets is the priority and pushed back on claims of price manipulation, pointing to route and logistics resilience amid Hormuz risks. BRICS+ Summit Finance: iBRICS Summit in New Delhi (Sept 12-13) is set to bring 500+ institutional investors and sovereign capital allocators managing about $1T, with a focus on cross-border investment channels beyond dollar clearing. BRICS+ Geopolitics: A new analysis argues US tariff threats may be strengthening BRICS cohesion by reinforcing members’ sovereignty and multilateral development goals. Food Prices & Brazil Link: FAO reports global food prices at the highest since late 2022; sugar jumped 11.9% in August, with Brazil’s Center-South production concerns cited. Brazil Trade/Industry: Embraer is expanding its India supply chain across commercial and defence, including aerospace-grade aluminium and forged components partnerships. Sports Business: Hakim Ziyech is in advanced talks to join Botafogo ahead of the Sept 11 transfer deadline.

Pix vs. US tariffs: President Lula says he will defend Brazil’s Pix instant payments system in talks with Donald Trump, arguing the platform is “non-negotiable” amid a tariff dispute that includes up to 25% duties on some Brazilian goods. BRICS capital push: Organisers say more than 500 institutional investors and sovereign-linked funds will join the iBRICS Summit in New Delhi next week, targeting a $1 trillion sovereign capital pool and linking fast-payment networks like Pix with broader cross-border settlement efforts. Brazil-EU trade pressure: Brazil claims “progress” on an EU ban affecting poultry and honey exports, while the dispute remains a live risk for exporters and supply chains. Food inflation backdrop: Global food prices hit the highest level since 2022, with weather and war disruptions feeding into higher costs that can spill into Brazil’s consumer market. Tech and payments ecosystem: Brazil’s Pix continues to draw international attention as regulators and investors look for faster, lower-cost payment rails. Sports-business signal: Brazil’s Luisa Stefani and partner Gabriela Dabrowski advanced at the U.S. Open, a reminder of how athlete branding keeps feeding sponsorship and media value.

Food & Commodities: The UN’s FAO said global food prices rose in August to the highest level since late 2022, with wheat and sugar climbing on weather shocks, Black Sea disruptions and El Niño risk. Brazil–EU Trade: Brazil says it has made progress to restart EU poultry and honey imports after an EU audit, while the broader animal-product dispute continues. Energy & Shipping: Oil importers are adapting to longer, more dispersed routes as Iran-related tensions disrupt key corridors, raising costs and reshaping supply chains. Climate & Health: Brazil unveiled AdaptaSUS, a 2026–2027 plan to prepare the public health system for El Niño-linked emergencies and climate-driven disease risks. Brazil Economy & Markets: Brazil’s GDP growth slowed in Q2 but still beat forecasts, while high rates remain a drag on domestic demand. BRICS Legal Cooperation: India’s CJI Surya Kant urged BRICS to act like a “living Nalanda University,” pushing judicial dialogue and faster, more predictable justice. Security & Trade Risks: A major cocaine seizure off Spain’s Canary Islands highlights how trafficking routes keep shifting toward Europe.

Brazil–EU Trade: Brazil signaled possible countermeasures as the EU meat ban takes effect, while Brussels says exports can resume once safety requirements are met—keeping animal-product trade and compliance costs in the spotlight. Mining Oversight: Brazil’s Congress approved a bill to tighten control over mining deals, including a special council for ownership changes and limits on foreign takeovers, alongside tax breaks and a mining guarantee fund. Supreme Court Fallout: Leaked messages tied to Banco Master banker Daniel Vorcaro have reignited tensions inside Brazil’s Supreme Court ahead of the election, with Chief Justice Edson Fachin stressing legality while Lula pushes for judicial reform. Food Prices: The FAO reported global food prices rose to the highest level since late 2022, driven by weather and trade disruptions—raising pressure on Brazil’s agribusiness margins and input costs. BRICS Justice Track: India’s Chief Justice Surya Kant used the BRICS Chief Justices’ Forum to push arbitration/mediation platforms to speed commercial dispute resolution.

EU Meat Ban Fallout: The EU suspended imports of Brazilian beef, pork, chicken, eggs, honey and other animal-origin products after concerns over antimicrobial controls; exports can resume once Brazil proves compliance and an EU audit reviews supply chains. Food Inflation Pressure: The UN FAO said global food prices rose in August to the highest since late 2022, driven by weather shocks and war-related disruptions, lifting cereals, oils, sugar, meat and dairy. Brazil-US Trade Friction: Trump’s beef plan and tariff moves keep spotlighting Brazil in US import sourcing, while US lawmakers and cattle groups warn of market impacts. Antitrust Beef Probe (US): The DOJ expanded its beef price investigation to eight retailers, including Walmart and Amazon, as inflation becomes a midterm issue. FDI Snapshot for LatAm: FDI in Latin America rose in 2025 to $194.2bn, with Brazil and Mexico the top recipients, led by US and Europe. Brazil Tech & Payments: Ant International secured a Central Bank of Brazil licence for local and cross-border payments, while Pix-to-Europe instant payments links are being studied. Climate in Cities: A COP30-linked initiative is using an AI “City Climate Compass” to help Brazilian municipalities plan and prioritize climate action.

EU Meat Trade Clash: Brazil voiced “deep concern” after the EU suspended Brazilian meat imports over animal-health and antibiotic-use guarantees, with Brussels citing insufficient proof and no clear restart date. Brazilian Finance & Regulation: Revolut secured conditional approval from the US OCC for a national bank charter, moving toward a 2027 launch and expanding its licensing push across markets including Brazil. Tech & Data Infrastructure: Alibaba Cloud launched its first South America cloud region in Brazil with new Sao Paulo data centers, aiming at low-latency, data-governance-ready AI and cloud services. Climate & Cities: On Amazon Day, Brazil’s urban climate strategy spotlighted multilevel action via “Brazil Mutirão,” backing Amazon cities with mobility electrification, circular economy and methane-reduction projects. Judicial Pressure in Brazil: Supreme Court justice Alexandre de Moraes faced calls to resign after reported links to disgraced banker Daniel Vorcaro emerged from federal police documents. Commodities Watch: Sugar prices slid after India eased expectations for imports, while El Niño risks kept broader weather-driven uncertainty in focus.

Instant Payments & Cross-Border Finance: Brazil’s central bank is in talks with the ECB to connect Pix with Europe’s TIPS, with a possible operational pilot in June 2028—another step toward Pix becoming a cross-border payments bridge. Tropical Forest Finance: The UK pledged a £400m loan to the Brazil-led Tropical Forests Forever Facility, aiming to pay countries for keeping tropical forests intact and boosting long-term conservation funding. EU Beef Shock: The EU beef ban on Brazil takes effect amid antibiotic concerns, while an economist says Brazil could still be central to any expanded U.S. beef imports—though details on what’s truly “new” remain unclear. Digital Banking & AI: PicPay is integrating Anthropic’s Claude so customers can check balances and transactions via natural-language queries inside the PicPay environment. Climate & Amazon Restoration: A study finds just 15–25 tree species drive much of regrowing Amazon forest carbon and trees, offering a practical guide for Brazil’s restoration targets. Women’s Amazon Microcredit: EIB Global and Banco do Brasil unlocked €500m in microcredit for women entrepreneurs across Brazil’s Legal Amazon.

Data Centers & Power Policy: Brazil’s Senate approved the Redata tax regime for data center services, tying incentives to contracted electricity demand using renewable or low-emission power—aimed at pulling more clean generation into the grid. Food & Trade Tensions: Ireland’s beef sector welcomed an EU ban on Brazilian beef over antimicrobial compliance concerns, warning the knock-on could push more Brazilian meat toward the UK. Corporate Investment: Nestlé plans to invest CHF310 million in Brazil’s nutrition business by 2028, including a new baby-food plant in Ituiutaba and capacity expansion for key ingredients like whey. Cybersecurity: Researchers flagged “Gambling Goblin” turning compromised Brazilian government sites into stealth phishing proxies, using hijacked trusted domains to route victims to scam pages. Energy Markets: An analysis says Americas oil exports are rising sharply amid Iran-related disruptions, with Brazil among the beneficiaries. BRICS Payments: BRICS is exploring links between members’ digital currencies (including Brazil’s Drex) to reduce dollar reliance in cross-border trade.

Trade & Investment: ApexBrasil opened a permanent trade and investment office in Addis Ababa, aiming to deepen Brazil–Ethiopia commercial ties after a Southern Africa mission and high-level visits, with a focus on agribusiness, green energy and tech transfer. Finance & Payments: Félix, a fintech built for Latino immigrants, closed a $200m Series C and is moving beyond remittances into loans and savings, while Brazil’s payment systems also face rising cybercrime risk as hackers execute fraudulent transfers. Energy & Commodities: Brazil’s coffee market slid as harvest expectations rise, while El Niño risk is reshaping Brazil’s power price outlook. Policy & Regulation: Brazil advanced rules for hydrogen subsidies and tax breaks, and lawmakers debated election-related uncertainty amid a Supreme Court crisis. Agri & Food Trade: EU moves to suspend Brazilian meat imports over compliance concerns, raising pressure on exporters and potential knock-on effects for UK market access.

Brazil Economy & Policy: Brazil’s economy grew 0.5% in Q2 2026, but the slowdown keeps pressure on households and fiscal planning as election-year spending debates resurface. EU Trade & Food Exports: The EU moved to suspend Brazilian meat imports over compliance concerns, adding fresh uncertainty for exporters already facing tariff and market-access friction. Digital Economy & Regulation: Brazil fined TikTok nearly $30m for children’s data protection failures and ordered deletions, underscoring tougher online safety enforcement ahead of the presidential race. Finance & Payments: Mercado Pago is expanding credit card services despite consumer-debt worries, while Mercado Bitcoin and Bitso are pushing deeper into Brazil’s crypto and payments competition. Energy & Industry: Siemens Energy plans to spin off its Transformation of Industry unit into a standalone company, signaling a major restructuring in industrial energy services. Agribusiness: Brazil’s soybean planting pace is slowing, and herbicide use has risen sharply—both themes that could shape costs and sustainability debates.

Brazil Economy: IBGE data show GDP grew 0.5% in Q2 2026 (vs Q1), with agriculture up 2.8% and services up 0.2%, while investment rose 1.2%. Concert Rules: Lula signed the “Taylor Swift Law” to curb digital ticket scalping with anti-bot safeguards, require full price disclosure, and mandate free drinking water at large events. Payments & Credit: Mercado Pago says it’s comfortable expanding credit cards despite rising household debt concerns, citing manageable delinquency and a healthy loan book. Cybersecurity: Google and Mandiant warn of “Breeze Comet,” targeting Brazilian payment and banking systems to run fraudulent transfers. Trade Talks: Brazil reiterated U.S. tariffs are discriminatory and said negotiations can resume, but Pix remains non-negotiable. EU Meat Ban: The EU moves to suspend Brazilian meat imports over compliance concerns, adding pressure to exporters. Tourism & Business Links: Brasil DNA opens early access for its Oct 5–8 virtual roadshow connecting Brazil travel suppliers with North American trade. Global Context: Thailand cuts visa-free stays to 30 days from Sept. 15, while granting Brazil 90 days.

US-Brazil Tariff Talks: Brazil again called U.S. tariffs on Brazilian goods “unjustified” and “inconsistent” with trade rules, but both sides agreed to keep negotiating after new U.S. surcharges tied to Section 301. Cybersecurity: Researchers warn attackers are exploiting critical flaws in Langflow and Rails, with rapid detections and potential secret leaks that can lead to remote code execution. BRICS Payments Push: India is set to press BRICS leaders on cheaper, interoperable cross-border payments, fast-payment links, and CBDC use amid difficult consensus-building. Brazil Energy & Industry: Burckhardt Compression won major Petrobras orders for compressor packages at the Boaventura Energy Complex, while Siemens Energy prepares to spin off its industrial energy unit. Food & Packaging: Copacol launched cellulose air-fryer-ready chicken trays aimed at convenience and lower environmental impact. Crypto Payments Trend: Stablecoin payment cards hit their best August on volume and users, with growth led by emerging markets including Brazil. Meat Trade Pressure: Rabobank flagged disruption to global beef flows, with China quota dynamics set to affect Brazil’s exports and domestic cattle prices.

EU Trade Shock: The European Union will suspend imports of Brazilian meat and other animal products from Thursday, citing insufficient guarantees on antibiotic rules; poultry could resume within weeks if an audit goes well, while beef may take longer. Online Safety Enforcement: Brazil is becoming the region’s main test bed for online safety rules, with regulators pushing Discord and fining TikTok, and a new lawsuit seeks damages of 500 million reais. Payments & Fintech Outlook: Research forecasts global cross-border payments could top $320T by 2032 as networks modernize, with real-time rails and tokenized settlement gaining momentum. Consumer & Market Watch: Sugar prices hold a firmer tone on deficit fears, while arabica coffee consolidates after harvest pace and inventory signals from Brazil. Business Expansion: SmartFit is shifting from gyms to a broader ecosystem via studios and TotalPass as some Brazilian regions show oversupply. Antitrust: iFood has filed a complaint at Cade accusing China’s Meituan of subsidizing low prices to squeeze competition.

India-Brazil Trade Push: India and Brazil reaffirmed a plan to lift bilateral trade to $30B by 2030, with talks in Brasilia focusing on pharmaceutical market access, plus chemicals, engineering goods and machinery. Critical Minerals Pipeline: Brazilian Critical Minerals advanced its Ema rare earths project by appointing Altris Engineering to lead FEED for the next step toward financing and a final investment decision. Energy Storage Momentum: CATL teamed up with Moura to bid in Brazil’s LRCAP 2026 battery capacity auction, aiming for localized production to meet local-content rules. Oil Refining Pressure: Goldman Sachs warned diesel refining margins are under strain from Middle East and Russia disruptions, with Brazil demand adding to the pressure. G20 Finance Talks: G20 finance chiefs met in Asheville as the US sought growth consensus while Iran and trade tensions loomed; Brazil’s finance minister skipped amid US frictions. Pharma Deal: BioMarin and Ascendis settled global Yuviwel patent disputes, with royalties tied to sales across the US, EU, Brazil and South Korea. Trade Strategy Debate: South Africa’s business leadership criticized Brazil ties as too political and urged a tougher, reciprocity-based trade strategy.

Green Shipping Deal: Singapore and Brazil signed an agreement to create a Singapore-Brazil Green and Digital Shipping Corridor, aiming to scale alternative marine fuels and share maritime/port data. Trade Mission to Africa: Brazil launched a mission to deepen trade with southern African countries, targeting investment and export opportunities beyond commodities. Energy & Diplomacy Pressure: U.S. Treasury Secretary Scott Bessent faces a G20 test as tariffs, the Iran war, and bond-market stress collide, with pressure to cut business ties to Iran. Brazil Debt & External Balance: Brazil’s July primary surplus was reported, but the current account deficit widened to a 7-year high, underscoring external stress. Central Bank Credit Curbs: Brazil is weighing lending restrictions as household debt stress mounts. Digital Economy & Data Rules: Brazil fined TikTok nearly $30m over children’s data protection failures, ordering deletions. Payments & Tech: Alibaba’s Brazil data-centre push raises questions around LGPD compliance as AI expands. Agribusiness Watch: Sugar price benchmarks rose to US$785, while industry argues more support is needed amid import pressure. Sports With Business Spillover: Neymar’s fitness doubts and the Corinthians-Santos derby keep attention on Brazil’s high-value football market.