A global race for Brazil’s vast deposits of rare earths is heating up, with the US, China and EU all vying for access to the minerals that are vital for an array of 21st-century technologies.
The Latin American nation’s reserves of the metals, the second-largest in the world, are in the crosshairs of both Washington and Brussels as they try to reduce dependence on China, the dominant producer which has a chokehold on supplies.
The EU is in talks to reach an agreement with Brazil for joint investments into critical raw materials, European Commission president Ursula von der Leyen said last month in Rio de Janeiro.
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