Petrobras has entered into a partnership with Brazil’s state development bank, BNDES, to research and develop projects in the critical minerals sector.
The agreement marks a strategic expansion for the state-controlled oil major, which is increasingly positioning itself to capture value from the energy transition beyond traditional hydrocarbons.
The collaboration focuses on lithium and rare earth elements, key inputs for battery production and electric vehicle manufacturing.
By leveraging BNDES’s financial and technical expertise, Petrobras aims to assess the viability of domestic mineral resources and potentially secure a foothold in the supply chains powering the global shift to clean energy.
This move comes as geopolitical tensions over critical minerals intensify.
China recently placed US rare earth producer MP Materials on its export control list, highlighting the fragility of global supply networks and the strategic importance of securing alternative sources.