Chinese company Gulf Resources, a producer of bromine and crude salt, announced an agreement on 26 August to enter Brazil’s mining sector, with a particular focus on assets related to lithium, bromine, rare earths and other minerals.

The company recently signed a strategic co-operation agreement with the Brazilian company Montes Verdes. The agreement provides for the creation of a joint venture to combine the Brazilian company’s mineral assets with Gulf Resources’ technology, industrial expertise and commercial channels.

Montes Verdes is engaged in the exploration of gold, manganese, lithium, bromine and rare earths. According to Gulf Resources, the Brazilian company’s mineral resources could be developed using the Chinese company’s technological and production expertise.

The partnership is expected to combine the mineral resources, technology, commercial channels and operational capacity of the two companies. The aim is to expand Gulf Resources’ international presence and develop new businesses outside the Chinese market.

The agreement also sets an ambitious growth target for the businesses that will be integrated into Gulf’s structure. According to the statement, Montes Verdes guaranteed that the operations to be consolidated by Gulf are expected to generate at least US$180 million in revenue in 2027.

(Source: CNN Brasil, 26 August)