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Economic Times
5 days ago
- Business
- Economic Times
Brazil's Lula plans new ‘national sovereignty' policy for strategic minerals amid Bolsonaro trial and US tensions
Synopsis Brazilian President Luiz Inacio Lula da Silva announced plans for a new mineral policy. The policy will treat strategic minerals as a matter of national sovereignty. Brazil aims to add value locally instead of exporting raw minerals. This move comes amid trade tensions with the U.S. linked to political issues surrounding Jair Bolsonaro. Reuters Brazil's President Luiz Inacio Lula da Silva speaks during an interview with Reuters at the Alvorada Palace, in Brasilia, Brazil, August 6, 2025. Brazilian President Luiz Inacio Lula da Silva told Reuters on Wednesday of his plans for a new national policy treating strategic minerals as a matter of "national sovereignty" in order to avoid exporting minerals without adding value locally. "We won't allow what happened in the last century to happen again, where Brazil exports raw minerals and then buys products with very high added value," the president, known as Lula, said in the interview. "We want to add value in Brazil." Lula's comments came as a new 50% tariff hit U.S. imports from Brazil amid a political spat between the two countries linked to an investigation against the South American country's former president, Jair Bolsonaro. Bolsonaro, under house arrest since late Monday, is standing trial on charges of plotting a coup to overturn his 2022 electoral defeat. Bolsonaro has denied wrongdoing. U.S. President Donald Trump, seen as a Bolsonaro ally, has decried what he calls persecution of Brazil's former leader. Trump has long sought to secure U.S. supplies of critical minerals, complaining of China's near-total control of the industry and striking deals with Ukraine to secure critical minerals in exchange for defense help. Currently, Brazil lacks a complete mapping of its mineral wealth, Lula said, adding that his government would start this process by setting up the national council on mineral materials and standards. The council will safeguard Brazil's control of its mineral wealth, allowing the country to become a global leader in the energy transition, Lula said, adding that businesses will not face difficulties following the council's creation. "Few countries in the world have the opportunity that Brazil has in this area," Lula said.
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First Post
08-07-2025
- Politics
- First Post
PM Modi receives Brazil's highest civilian honour for boosting bilateral ties
Brazilian President Luiz Inacio Lula da Silva bestowed the 'Grand Collar of the National Order of the Southern Cross' onto PM Modi in recognition of his significant achievements to improving bilateral ties and expanding India-Brazil collaboration across important global platforms read more Brazil's President Luiz Inacio Lula da Silva gives a thumbs up, after he presented India's Prime Minister Narendra Modi with the National Order of the Southern Cross - a prestigious honor awarded by the Brazilian president to foreign dignitaries, during a ceremony at the Alvorada Palace in Brasília, Brazil. Reuters Brazil bestowed the 'Grand Collar of the National Order of the Southern Cross', the country's highest civilian award, on Prime Minister Narendra Modi as a notable diplomatic gesture. Brazilian President Luiz Inacio Lula da Silva bestowed the accolade onto PM Modi in recognition of his significant achievements to improving bilateral ties and expanding India-Brazil collaboration across important global platforms. #WATCH | Brasilia, Brazil: President Lula confers Brazil's highest civilian honour, the 'Grand Collar of the National Order of the Southern Cross', on PM Narendra Modi. Source: ANI/DD — ANI (@ANI) July 8, 2025 STORY CONTINUES BELOW THIS AD This is the 26th international accolade given on PM Modi by a foreign government since he took office in May 2014. The award is intended for foreign heads of state and is regarded as one of the most prestigious accolades bestowed by Brazil to recognise outstanding leadership and efforts to promote international ties. Previous recipients of the 'Grand Collar of the National Order of the Southern Cross' include former South African President Nelson Mandela, Queen Elizabeth II, and US President Dwight D Eisenhower.
