Brazil and India agree to boost cooperation on rare earths

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SAO PAULO (AP) — 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.

The deal on rare earths is part of a broader strategy from both India and Brazil to become more strategically autonomous from China and the U.S. through diversification, said Oliver Stuenkel, an international relations professor at the Getulio Vargas Foundation, a think tank and university.