If They Want Critical Minerals, They Will Have to Industrialize our Country, Lula Says

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President says foreign companies may only operate in the sector if they add value to BrazilStatement comes after the G20, amid U.S. interest in Brazilian resources.

Brazilian President Luiz Inácio Lula da Silva said this Monday (24), during a visit to Mozambique, that foreign companies will only be allowed to explore critical minerals in the country if they contribute to its industrialization. The statement came one day after his participation in the G20, held in South Africa.

“We will not be exporters of critical minerals. If they want them, they will have to industrialize our country,” he said. Lula also argued that each nation should establish its exploitation model “in a sovereign manner.”

Ex-presidente Luiz Inácio Lula da Silva levanta diploma em cerimônia acadêmica, vestido com beca e capelo. Ao lado, duas pessoas também vestem trajes acadêmicos e sorriem. Ao fundo, tela exibe imagem do ex-presidente com faixa presidencial e bandeiras do Brasil.
The President of the Republic, Luiz Inácio Lula da Silva, during the ceremony awarding the title of Doctor Honoris Causa in Political Science, Development, and International Cooperation by the Pedagogical University of Maputo. Joaquim Chissano International Conference Center — Maputo (Mozambique) Foto: Ricardo Stuckert – Ricardo Stuckert/Ricardo Stuckert / PR

Critical minerals such as lithium, niobium, and rare earths are considered essential for defense and decarbonization technologies. Although Brazil holds some of the world’s largest deposits, it faces refining limitations.
The National Bank for Economic Development, responsible for boosting the sector in Brazil, is negotiating R$ 46 billion in investments.

The United States has signaled interest in Brazilian resources. In July, representatives of the U.S. Embassy mentioned Washington’s intention to expand its presence in the sector. Lula responded at the time that the minerals belonged “to the Brazilian people.”