Competition is intensifying among the United States, the European Union, and China over the exploitation of rare minerals in Brazil, crucial for a wide range of modern technologies, according to a report by the Financial Times. Brazil holds the second-largest reserves of rare minerals in the world, making it a focal point for Washington and Brussels in their efforts to reduce dependence on China, the dominant producer that controls the supply. European Commission President Ursula von der Leyen recently announced in Rio de Janeiro that the EU is in talks to reach an agreement with Brazil for joint investments in critical raw materials.

Next month, Brazil's export agency plans to host an event where EU-linked investors are expected to unveil financial support for five mining projects in the country. These projects will include elements like rare earth minerals, nickel, lithium, and manganese, highlighting the significant role Brazil plays in the global supply chain of these essential resources. The moves by the EU and the US to secure access to these minerals reflect a broader geopolitical strategy aimed at minimizing reliance on Chinese resources and ensuring stable supply chains for future technological advancements.

As the EU aims to finalize agreements, it finds itself in competition with the United States, which has also expressed a strong desire to access Brazil's mineral reserves. This rivalry reveals a larger narrative of global power dynamics where control over essential resources is becoming increasingly important for economic and technological sovereignty. The competition not only has implications for the involved nations but also for Brazil, as its decisions could shape the future of its economy and its role in international trade concerning these vital minerals.