BYD Acquires Lithium Mining Rights in Brazil
In 2023, Chinese electric vehicle manufacturer BYD secured mineral rights for two lithium-rich plots in Brazil. This strategic move marks BYD's entry into the mining industry outside of China, consolidating its presence in Brazil, its largest market abroad.
The acquisition, conducted through BYD subsidiary Exploracao Mineral do Brasil, grants the company access to plots located near Atlas Lithium's existing mining claims. The proximity to BYD's planned factory project in northeast Brazil underscores the company's commitment to securing reliable raw materials.
BYD has been actively pursuing mineral acquisition opportunities, including stakes in major Chinese miners and plans for a lithium cathode plant in Chile. The acquisition of mineral rights in Brazil further demonstrates BYD's global presence and its focus on securing strategic minerals.
Brazil's lithium sector has attracted significant interest from global players, including U.S., Saudi, and Chinese delegations. The country's open market approach and absence of heavy state involvement have made it an attractive destination for lithium exploration and development.
BYD's investment in Brazilian lithium reinforces its commitment to Latin America's largest economy. The company's acquisition of mineral rights in the Jequitinhonha Valley, known as Brazil's Lithium Valley, positions BYD to explore the region's substantial lithium potential.