Brazil-India Sign MoU on Critical Minerals Pact

Brazilian President Luiz Inácio Lula da Silva concluded a five-day state visit to India on Sunday, where he and Indian leaders signed a memorandum of understanding on critical minerals and rare earths, aiming to expand cooperation in mining, exploration and related technologies between the two nations.

Lula arrived in New Delhi on February 18, accompanied by 11 ministers, including those for foreign affairs, finance, health and agriculture, as well as more than 300 business leaders. The delegation marked one of the largest for any of Lula's foreign trips, underscoring Brazil's commitment to deepening ties with India, a fellow founding member of the BRICS group of developing economies. During the visit, Lula met Prime Minister Narendra Modi at Hyderabad House, received a ceremonial welcome from Modi and President Droupadi Murmu at Rashtrapati Bhavan, and held discussions with External Affairs Minister S. Jaishankar.

The centerpiece agreement, signed in Modi's presence on Saturday, establishes a non-binding framework for reciprocal investments in rare earth minerals, which Brazil holds in the world's second-largest reserves. These resources, essential for products like...