"China dominates the mining and processing of the world's rare-earth and critical minerals, and has increased its grip on exports in recent months as the United States attempts to break its hold on the growing industry. Still, for Brazil, which follows China as the world's second-largest holder of critical minerals, its resources are used across a range of fields, including electric vehicles, solar panels, smartphones, jet engines, and guided missiles."
"In a statement, Lula said, increasing investments and cooperation in matters of renewable energies and critical minerals is at the core of the pioneering agreement that we have signed today. While few details have emerged about the mineral deal so far, demand for iron ore, a material for which Brazil is the second-largest producer and exporter after Australia, in India has grown amid rapid infrastructure expansion and industrial growth."
Brazil and India signed an agreement to boost cooperation on critical minerals and rare earths to diversify supply sources and strengthen supply chains. The agreement aims to reduce dependence on China, which dominates mining and processing and has tightened export controls. Brazil ranks as the world's second-largest holder of critical minerals and is a major iron ore producer, with resources used in electric vehicles, solar panels, smartphones, jet engines and guided missiles. The pact emphasizes increased investment and cooperation in renewable energies and critical minerals. Details remain limited. India's demand for iron ore has risen amid rapid infrastructure expansion and industrial growth.
Read at www.aljazeera.com
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