EU Offers Brazil Rare Earths Deal with Refining Investment and Tech Transfer

During a week-long trip to Brazil, Jozef Sikela, the European Commissioner for International Partnerships, is promoting a rare earths agreement that he asserts is more advantageous than those from the US or China. Sikela toured a rare earth research and processing facility operated by Australian company Viridis Mining and Minerals in Pocos de Caldas, located in Minas Gerais state. This facility is among four initiatives aimed at enhancing collaboration between the EU and Brazil. The EU's proposal includes offtake agreements to meet its rare earth demands while assisting Brazil in developing its refining capabilities and advancing in the supply chain for improved profits. This agreement entails investment in refining and technology transfer, establishing the EU as a viable competitor in the Brazilian minerals market, where the US and China already have significant influence.