India, Brazil Seek $20 Billion in Trade, with Mining in Key Role

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Written by Amir Richani for IIR News Intelligence (Sugar Land, Texas)

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Summary

Brazil and India have signed mining agreements that would boost trade to US$20 billion per year by 2030. While Brazil aims to leverage raw material reserves, New Delhi plans to expand its mining influence.

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Rare Earths in Focus

Brazilian President Luiz Inacio Lula travelled to New Delhi to meet India's Prime Minister Narendra Modi to close new economic and political agreements between the BRICS nations. The leaders agreed to boost bilateral trade from US$15 billion in 2025 to US$20 billion by 2030, aiming for US$30 billion in the future.

"Prime Minister Modi and I are committed to working toward reaching US$20 billion in trade within a few years," Lula said. "It wouldn't be surprising if, by 2030, instead of US$20 billion, we reach US$30 billion in trade between the two countries. We just need to pursue it."

The visit included two memoranda of understanding (MoU): one on cooperation in rare earths and critical minerals, and another on steel mining and supply chain cooperation.

Brazil is one of the world's largest iron ore producers, with Vale S.A. playing a major role in production. At the same time, the South American nation holds reserves and geological potential of rare earths, lithium, nickel, cobalt and other minerals essential to the energy transition.

Industrial Info is tracking 850 mining projects across commodities (excluding bricks and ceramics, cement plants and glass plants) in Brazil, amounting to investments of US$65.41 billion.

India is seeking to expand its mining industry by making deals with South American nations and increasing investments in the region. Last year, India released a copper roadmap outlining plans for more South American investment and local capacity development.

For India, Industrial Info has mapped 4,505 mining projects across commodities (excluding bricks and ceramics, cement plants, and glass plants) with investments of US$137.50 billion.

Rare Earths and Critical Minerals

Both governments agreed to explore technology transfer, exploration, research and development in rare earths and critical minerals. The MoU encourages investment opportunities in exploration, mining and infrastructure development for brownfield and greenfield projects.

The deal also aims to develop geological surveying to identify new lithium, nickel, cobalt, rare-earth and other critical mineral deposits.

Regarding rare earths mining and processing developments in Brazil, Industrial Info has mapped 28 projects, totalling US$2.57 billion of investments.

Industrial Info also is tracking the Pela Ema rare earths mine and processing plant in Minacu, Goais, the nation's only rare earths operating facility. Other major projects, such as Rocha da Rocha and Pocos de Caldas, could further boost domestic production and capacity.

Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Plant and Project databases can learn more about these facilities--including capacities, investment values and necessary equipment--from a profile of Pela Ema and detailed reports on the Rocha da Rocha and Pocos de Caldas projects.

For lithium, a key commodity for the energy transition, Brazil is home to 17 mining projects worth more than US$835 million, and four operating mines and plants, according to Industrial Info's data. Subscribers can learn more from a detailed list of project reports and plant profiles.

Steel Partnership

Brazil and India also signed onto a steel partnership aimed at strengthening the related supply chain and technology. The MoU promotes investment opportunities in exploration, mining, infrastructure, processing, recycling, and other areas.

The agreement includes artificial intelligence for geoscientific data analysis.

Industrial Info has mapped almost 800 steel mill plants in India, making them a possible destination for Brazil's vast iron ore production. Subscribers can learn more from a detailed list of plant profiles.

Key takeaways

• Brazil and India aim to increase bilateral trade from US$15 billion to US$20 billion by 2030.
• Both nations signed MoUs on rare earths, critical minerals, and steel.
• The MoUs promote investments, exploration, mining, and the development of supply chain capacities.

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About IIR News Intelligence
IIR News Intelligence is a trusted source of news for the industrial process and energy markets, powered by Industrial Info Resources' Global Market Intelligence (GMI).

About Industrial Info Resources
Industrial Info Resources (IIR News Intelligence) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 250,000 current and future projects worth $30.2 trillion (USD).