India and Brazil agreed to boost cooperation on critical minerals and rare earths on Saturday, Prime Minister Narendra Modi said after talks in New Delhi with Brazilian President Luiz Inacio Lula da Silva.
“The agreement on critical minerals and rare earths in a major step towards building resilient supply chains,” Modi said. Brazil has the world’s second-largest reserves of critical minerals, which are used in everything from electric vehicles, solar panels and smartphones to jet engines and guided missiles.
India, seeking to cut its dependence on top exporter China, has been expanding domestic production and recycling while scouting for new suppliers.
“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,” Lula said.
