India signs critical minerals deal with Brazil to curb dependance on China

Brazilian President Lula called the critical minerals and rare earths deal the ‘core of the pioneering agreement’.

Brazil and India have signed an agreement to boost cooperation on critical minerals and rare earths, as the Indian government seeks new suppliers to curb its dependence on China.

Brazilian President Luiz Inacio Lula da Silva met Indian Prime Minister Narendra Modi in New Delhi on Saturday and discussed boosting trade and investment opportunities.

Modi said in a statement that the agreement on critical minerals and rare earths was a “major step towards building resilient supply chains”.

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.