A Memorandum of Understanding (MoU) between India and Brazil has been signed to intensify collaboration in the mining and minerals that are major steel industry players. This deal was sealed before Prime Minister Narendra Modi and Brazilian President Luiz Inácio Lula da Silva in Hyderabad House.
The MoU establishes a structure of cooperation along the steel value chain, which is oriented at ensuring stable and sustainable raw material supply. Investment in exploration, mining, and infrastructure will be encouraged in both countries, along with the development of mineral processing, benefit and recycling technologies. Automation and artificial intelligence in the analysis of geoscientific data to enhance the efficiency of exploration are also part of the partnership.
Brazil, a large iron ore producer, possesses large quantities of manganese, nickel and niobium, which are essential in steel making. The increased collaboration will lead to better access to these resources for India.
India has a steel-making capacity of 218 million tonnes and is rapidly increasing to satisfy the increasing demand. The agreement will enhance resilience in supply chains and help the steel industry to grow in the long run.
 between India and Brazil has been signed to intensify collaboration in the mining and minerals that are major steel industry players.){kind=link}