Brazil’s abundant but largely untapped rare earth deposits are drawing interest from the US, with Brasília eyeing the minerals as a potential bargaining chip as it repairs diplomatic ties with Washington.
The South American country holds the world’s second-largest reserves of the elements, which are vital for cutting-edge technologies from electric cars and drones to laser-guided missiles, but whose mining and processing are dominated by China.
Washington has been seeking alternative sources after Beijing restricted exports in reaction to President Donald Trump’s trade tariffs, and sees Brazil as a potential partner, said several people with knowledge of the situation.
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