Brazil and USA discuss critical minerals alliance in meeting with American vice-president, says agency

Lula says that Brazil will not be an exporter of critical minerals: ‘Whoever wants to will have to industrialize our country’ Brazil participated in a meeting in the United States this Wednesday (4) in which the North American vice-president, JD Vance, revealed plans to bring together allies in a trading bloc for critical minerals. The Brazilian government is still evaluating whether it will join the group, according to Planalto members. Itamaraty confirmed to Reuters that Brazil was present at the meeting through the Embassy in Washington, but did not say whether the country could join the initiative or how possible participation could take place. A Brazilian government source explained that Brazil is open to partnerships, as long as they bring added value to the country. According to this source, due to the scale of the issue, the issue needs to be addressed bilaterally, and a decision will not be taken quickly. The Trump administration has stepped up efforts to secure U.S. supplies of critical minerals after China roiled global markets last year by withholding rare earths needed by U.S. automakers and other industrial manufacturers. In this context, Brazil has aroused the interest of the United States and other countries, given the potential for the exploration of critical minerals such as rare earths, copper, nickel and niobium, among others. The source added that the Brazilian government is preparing to start conversations about a possible trip by President Luiz Inácio Lula da Silva to Washington and that, if the topic is of interest to the United States, it could be brought to the table. The Ministry of Mines and Energy told Reuters on Wednesday that it is open to dialogue and international initiatives “in line with national interests and the principles of the country’s economic and social development”. Without responding directly about this Wednesday’s meeting, the ministry also said that Brazilian action is guided by strengthening international cooperation, attracting investments, technological and industrial development in the country and inserting Brazil into global value chains, in dialogue with different partners, including the United States, the European Union, China and other strategic actors. Commissions from different parts of the world have sought out mining companies in Brazil and scheduled meetings with the Brazilian Mining Institute (Ibram), which represents the main companies in the sector in the country, such as Vale, BHP and Anglo American. In the case of rare earths, Brazil has the second largest global reserves, behind only China, but has few projects under development. On Monday, Trump launched a strategic North American package of critical minerals, called Project Vault, supported by $10 billion in initial financing from the Export-Import Bank of the United States and $2 billion in private financing. US Secretary of State Marco Rubio said that 55 countries participated in the negotiations in Washington, including South Korea, India, Thailand, Japan, Germany, Australia and the Democratic Republic of Congo, all with different refining or mining capabilities. VIDEOS: most watched on g1

Source link