Brazil and India agree to boost cooperation on rare earths
AP News • • world
Key Points:
- Brazil and India signed a non-binding memorandum of understanding to cooperate on rare earth minerals, focusing on investment, exploration, mining, and AI applications, aiming to diversify trade relations between the two major Global South countries.
- Brazil holds the world's second-largest reserves of rare earth minerals, essential for products like smartphones, electric vehicles, and solar panels, making the deal strategically significant for both nations.
- The agreement is part of a broader strategy by Brazil and India to reduce dependence on China and the U.S., enhancing their strategic autonomy through diversified partnerships.
- Brazilian President Luiz Inácio Lula da Silva's visit to India, accompanied by a large ministerial and business delegation, underscores Brazil's commitment to strengthening ties with India and expanding cooperation across various sectors.
