Lula vows to protect Brazil’s oil and minerals from foreign control
Brazilian President Luiz Inácio Lula da Silva, ahead of the presidential elections, promised not to allow the country’s oil resources and critical minerals to come under foreign control. As Anadolu Agency reports, the first round of voting is scheduled for October 4.
Sovereignty over resources
Lula da Silva said that in the elections, citizens must decide how they see the future of their country. He also mentioned developments in Venezuela’s oil sector and the agreement between Caracas and Washington concerning that country’s energy resources.
“Do you want a country where oil belongs to us, or a country where what happened in Venezuela will happen?” the president said. Earlier, in an address to the nation, he stated: “We are not a colony and we will not be anyone’s colony,” warning against foreign interference in Brazil’s mineral and oil sectors.
More current news is available on the UA.News Telegram channel Telegram.
Critical minerals
According to Lula da Silva, Brazil should use its natural resources to develop national industry and create jobs, rather than merely export raw materials. The issue of critical minerals has become a prominent topic in the election campaign amid global competition for resources needed for electric vehicles, renewable energy, electronics and other advanced technologies.
Brazil has significant deposits of rare-earth elements, as well as lithium, nickel, cobalt, graphite and manganese. Earlier this month, Brazil’s Congress approved a legislative framework on critical and strategic minerals aimed at stimulating domestic processing and investment in the sector.
Lula da Silva, who is seeking to win a fourth non-consecutive presidential term, is currently leading the race. Other leading contenders include Senator Flávio Bolsonaro, the eldest son of former President Jair Bolsonaro.
Download our app
