During a meeting with South African President Cyril Ramaphosa, Brazilian President Lula emphasized Brazil's intent to develop rare earth minerals jointly with South Africa for economic and technological benefits.
In a significant meeting at the Planalto Palace, Brazilian President Luiz Inácio Lula da Silva discussed the potential for collaborative exploitation of rare earth minerals with South Africa's President Cyril Ramaphosa. Lula highlighted the necessity of transforming the extraction of critical minerals into a strategy aimed at technological and economic development. He noted that both nations possess vast similar potential in this sector, which could lead to enhanced cooperation and prevent the unprocessed export of vital resources.
Lula pointed out that Brazil and South Africa are rich in essential minerals needed for the energy and digital transitions of the future. He suggested a joint assessment of mining resources in both countries to capitalize on their reserves effectively. This underscores a broader aim to ensure that strategic resources are not merely extracted and exported but are instead utilized to enhance local technological capabilities and economic growth.
Furthermore, the Brazilian president remarked that only about 30% of Brazil's territory has been mapped, indicating significant potential for discovering more mineral resources. By fostering this collaboration with South Africa, Lula aims to not only improve the countries' economic standings but also to assert more control over their natural resources, which have historically seen much of their value extracted by foreign entities without significant benefits to the local economies.
