off-the-wire

Brazil’s BNDES to partner with Vale, Petrobras on critical minerals

Kitco Media
By Reuters
Published:
Updated:
Reuters
Brazil’s BNDES to partner with Vale, Petrobras on critical minerals teaser image

Brazilian state-run development bank BNDES will partner with miner Vale and oil company ‌Petrobras on critical minerals, the bank’s head Aloizio Mercadante said on Monday.

Speaking at an event alongside President Luiz Inacio Lula da Silva, Mercadante also said that Lula had asked BNDES to recycle its equity portfolio and invest in artificial intelligence and biotechnology.

(By Rodrigo Viga Gaier and Isabel Teles)

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