Anglo American Brazil plans to invest BRL 25 million ($4.4 million) in open innovation projects in Brazil by 2026, the company said.
The company said it has an undisclosed budget to invest in research, development, and project execution on innovative initiatives, as well as proof of concepts generated by startups.
“Most of the solutions built globally are brought and adapted into our businesses in Brazil,” said Felipe Starling, executive manager of innovation, planning and sustainability at Anglo American Brazil.
He said there are also solutions developed in Brazil that are later deployed at Anglo American’s other global businesses.
Currently, Anglo American Brazil has direct involvement in businesses with 20 startups.