Brazil's BNDES Launches R$140 bn Industry Fund and Petrobras Critical Minerals Partnership

Brazil's Development Bank (BNDES) and state oil company Petrobras signed a strategic partnership to boost research, development and innovation in critical minerals such as lithium, nickel, graphite and rare earths. The agreement, announced in Rio de Janeiro, aims to map technological gaps, support ongoing projects and position Brazil as a leader in the supply chain for electrification. Petrobras President Magda Chambriard said the initiative will help the company dominate Brazil's critical‑minerals technology sector.

At the same ceremony, BNDES revealed the "Nova Indústria Brasil" program, allocating R$140 billion (R$102.5 bn from BNDES and R$37.5 bn from Finep) for strategic industrial investments through December 2026. The launch, attended by President Luiz Inácio Lula da Silva and Vice‑President Geraldo Alckmin, brings total resources available for 2023‑2026 to more than R$750 billion, targeting sectors identified as essential for the country's economic development.