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Lula Vows to Shield Brazil's Oil, Minerals From Foreign Control
(MENAFN) Brazilian President Luiz Inacio Lula da Silva pledged to defend the country's oil reserves and critical mineral wealth from outside control as October's presidential election approaches.
“What is at stake in the October elections is what you want for your country. What future do you want?” he said.
He pointed to recent developments in Venezuela's oil industry, including an agreement between Caracas and Washington over that country's energy resources, as a cautionary example.
“Do you want a country where the oil is ours, or a country where what happened in Venezuela happens?” he said.
Lula argued that Brazil should harness its natural resources to build up domestic industry and generate jobs, rather than simply shipping raw materials abroad.
Critical minerals have emerged as a flashpoint in Brazil's election campaign, as countries worldwide compete for resources essential to electric vehicles, renewable energy, electronics, and other advanced technologies. Brazil holds substantial deposits of rare earths alongside lithium, nickel, cobalt, graphite, and manganese — minerals increasingly viewed as strategic assets in the global energy transition.
Earlier this month, Brazil's Congress passed a legal framework for critical and strategic minerals designed to boost domestic processing and draw investment into the sector.
National sovereignty and resource control have become defining pillars of Lula's reelection bid. “We are not a colony and we will not be a colony of anyone,” he declared in a national address earlier this month, cautioning against foreign meddling in Brazil's mineral and oil industries.
The comments come as Lula holds a lead in the presidential race, even as his top rivals attack his record on the economy, public security, and government spending.
Brazil's first-round vote is set for Oct. 4. Lula is pursuing a fourth nonconsecutive term, facing off against Sen. Flavio Bolsonaro — the eldest son of former President Jair Bolsonaro — among his chief challengers.
“What is at stake in the October elections is what you want for your country. What future do you want?” he said.
He pointed to recent developments in Venezuela's oil industry, including an agreement between Caracas and Washington over that country's energy resources, as a cautionary example.
“Do you want a country where the oil is ours, or a country where what happened in Venezuela happens?” he said.
Lula argued that Brazil should harness its natural resources to build up domestic industry and generate jobs, rather than simply shipping raw materials abroad.
Critical minerals have emerged as a flashpoint in Brazil's election campaign, as countries worldwide compete for resources essential to electric vehicles, renewable energy, electronics, and other advanced technologies. Brazil holds substantial deposits of rare earths alongside lithium, nickel, cobalt, graphite, and manganese — minerals increasingly viewed as strategic assets in the global energy transition.
Earlier this month, Brazil's Congress passed a legal framework for critical and strategic minerals designed to boost domestic processing and draw investment into the sector.
National sovereignty and resource control have become defining pillars of Lula's reelection bid. “We are not a colony and we will not be a colony of anyone,” he declared in a national address earlier this month, cautioning against foreign meddling in Brazil's mineral and oil industries.
The comments come as Lula holds a lead in the presidential race, even as his top rivals attack his record on the economy, public security, and government spending.
Brazil's first-round vote is set for Oct. 4. Lula is pursuing a fourth nonconsecutive term, facing off against Sen. Flavio Bolsonaro — the eldest son of former President Jair Bolsonaro — among his chief challengers.
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