Brazil's Lula opens rare earths to all investors, including China, after Trump meeting
On Thursday, Brazilian President Luiz Inácio Lula da Silva expressed his country's readiness to engage in rare earth mineral initiatives with China and other nations. This declaration followed an extensive four-hour meeting with U.S. President Donald Trump at the White House. Addressing journalists at the Brazilian embassy in Washington, Lula reiterated Brazil's openness to foreign investment, stating, "We welcome all who wish to invest here." He underlined his government's dedication to processing rare earth materials locally, aiming to prevent previous issues linked to exporting unrefined resources. This announcement coincides with rising U.S. apprehensions regarding China's expanding presence in South America.
Key facts
- Brazilian President Lula met with U.S. President Trump at the White House on Thursday for a three-hour meeting.
- The meeting ran more than an hour past schedule.
- Lula stated Brazil has no preference among investors for rare earths development.
- He invited Americans, Chinese, Germans, Japanese, and French to invest in mining, separation, and production.
- Lula said refining of rare earths will stay in Brazil.
- He criticized past practices of exporting raw silver, gold, and iron ore without industrial value capture.
- The announcement addresses U.S. concerns about China's influence in South America.
- Lula spoke at a press conference at the Brazilian embassy in Washington.
Entities
Institutions
- White House
- Brazilian embassy
- Washington
Locations
- Brazil
- Washington
- United States
- China
- Germany
- Japan
- France
- South America