The BRICS control 72% of rare metal reserves!

The BRICS alliance continues to strengthen its position on the global stage. After consolidating its dominance in the oil and gas sectors, the group now holds a significant share of the world’s rare metal reserves. These strategic resources could provide the alliance with a crucial advantage in international trade exchanges.

A reinforced grip on world resources

The expansion of BRICS in 2024 has strengthened their grip on the global energy markets. The bloc now controls 42% of the world’s oil and gas reserves thanks to the integration of new members. This strategic position allows them to influence prices and energy policies internationally.

At the same time, the BRICS hold 72% of the rare metal reserves, which are essential in advanced technologies and electronics. This majority gives them an unprecedented ability to shape the rules of the game in the trade of strategic minerals. The bloc can easily influence the technological and manufacturing industries on a global scale. This new dynamic suggests a potential shift of traditional powers towards these emerging nations.

Economic and political strategies of the BRICS

The next BRICS summit is expected to focus on the trade of rare metals and oil. Members will discuss the possibility of restructuring current trade agreements to strengthen the economic integration of the alliance. A report indicates that prospects for cooperation in the field of studying, developing, and rationally using mineral resources will be on the agenda. Head of the Russian Federal Agency for Subsoil Use (Rosnedra), Evgeny Petrov, emphasized the importance of this cooperation. He stated that it would ensure the continuity of supplies and price stability.

Furthermore, the bloc wishes to use local currencies for rare mineral exchanges. This strategy could weaken the position of the US dollar in international markets. Such a change could have profound consequences on global economies, particularly in sectors heavily dependent on imports of these materials.

In summary, the maneuvers of BRICS could not only redefine the rules of international trade but also suggest deeper changes in global economic governance. By anticipating these developments, global actors must consider adaptive strategies to maintain their relevance in a rapidly changing world.