Brazil and India sealed a deal Saturday on critical minerals and rare earths, enhancing cooperation on crucial resources between two major countries of the global south as they seek to diversify their trading relationships. The non-binding memorandum of understanding on rare earths establishes a framework for cooperation between the two countries, focusing on reciprocal investment, exploration, mining and artificial intelligence applications, among other issues.
Brazil has the world’s second-largest reserves of rare earth minerals, used in a wide range of products, including smartphones, electric vehicles, solar panels and jet engines.
“Increasing investments and cooperation in matters of renewable energy and critical minerals is at the core of a pioneering agreement that we have signed today,” Brazilian President
Luiz Inácio Lula da Silva told journalists.
