Lula wants to attract foreign investors to develop Brazil's critical minerals, H2 industries

The Brazilian government is looking to attract international investors to help develop the country's potential to produce critical minerals and for green hydrogen projects.

"Brazil has extraordinary potential to become the largest producer of green hydrogen in the world, and we have large reserves of strategic minerals such as niobium, graphite, nickel and rare earths. We're seeking partners interested in adding value to these resources in our territory," President Luiz Inácio Lula da Silva said during a seminar to present opportunities in Brazil to Saudi Arabian investors. 

According to Lula, Brazil has the potential to develop a complete value chain related to the critical minerals required for the energy transition.

"Being a mere exporter of raw materials doesn't interest us and doesn't suit us. We can produce green steel and electric battery components domestically and thus generate more revenue for our population," said Lula.

"Electric vehicles are the driver of the current renaissance of the Brazilian automotive industry. We don't want to simply install maquiladoras. We're perfectly capable of producing parts and components in our country," he added.

During his speech, Lula underlined that Brazil is already a big producer of electric buses and aircraft.