Brazil is among the top 10 countries in terms of cobalt reserves, a metal that experts say is important for the development of high technology and the transition to renewable energy sources. This is reported by Metropoles, a partner of TV BRICS.

The Latin American country’s reserves of this metal are estimated at 70,000 tonnes. According to the World Bank, global demand for cobalt is expected to increase by 585 per cent by 2025.

Brazilian mining projects have previously attracted foreign investment, such as a nickel and cobalt mining firm in Piaui, which was awarded a US$25 million contract in 2020.

About 80 per cent of the cobalt mined is used to produce super-hard, heat-resistant, tool and wear-resistant alloys, as well as permanent magnets. Such alloys are used in mechanical engineering, aircraft, rocket, electrical and nuclear industries.

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