The present study aimed at investigating the carbon metabolism in terms of carbon dioxide fixation and its destination in microalgae cultivations. To this purpose, analysis of growth parameters, media of cultivation, biomass composition and productivity and nutrients balance were performed. Four microalgae suitable for mass cultivation were evaluated: Dunaliella tertiolecta SAD-13.86, Chlorella vulgaris LEB-104, Spirulina platensis LEB-52 and Botryococcus braunii SAG-30.81. Global rates of carbon dioxide and oxygen were determinated by a system developed in our laboratory. B. braunii presented the highest CO(2) fixation rate, followed by S. platensis,D. tertiolecta and C. vulgaris (496.98, 318.61, 272.4 and 251.64 mg L(-1)day(-1), respectively). Carbon dioxide fixated was mainly used for microalgal biomass production. Nitrogen, phosphorus (calcium for D. tertiolecta), potassium and magnesium consumption rates (mg gX(-1)) were evaluated for the four microalgae. Biomass composition presented a predominance of proteins but also a high amount of lipids, especially in D. tertiolecta and B. braunii.