BRASÍLIA - On January 13, 2025, Brazil's Minister of Mines and Energy, Alexandre Silveira, signed a cooperation agreement with the United Arab Emirates for the exploration of strategic minerals essential for energy transition. The signing took place in Abu Dhabi, the capital of the UAE, with potential investments reaching R$ 15 billion.
The agreement, formalized as a memorandum, focuses on minerals such as lithium, niobium, and silicon. It aims to foster collaboration between government agencies, regulatory authorities, and companies from both nations, including small and medium enterprises and startups.
The Brazilian Ministry of Mines and Energy anticipates that the partnership will encompass investments in specific projects related to exploration, extraction, processing, refining, and commercialization of minerals. It will also address technology transfer and enhancements in environmental, social, and governance (ESG) practices. Additional aspects may include personnel training, potential investment incentives, and information exchange.
Currently, Brazil is the world's largest producer of niobium, with government data indicating that 75% of global production is managed by the Companhia Brasileira de Metalurgia e Mineração (CBMM), based in Araxá, Minas Gerais.
During his Middle Eastern tour, Minister Silveira also announced Brazil's intention to rejoin the International Renewable Energy Agency (IRENA), which comprises 170 member countries. This process had been halted under the previous administration of Jair Bolsonaro. Following this visit, the minister is set to travel to Saudi Arabia.