Brazil and South Korea sign agreement to intensify cooperation in strategic minerals

Brazil and South Korea formalized joint communiqués on Monday (27) aimed at expanding bilateral collaboration in the field of critical and strategic minerals.

Objectives of the mining partnership

This initiative aims to strengthen the relationship between the two countries in the mining sector, defining guidelines for creating production chains that are more sustainable, diversified, and resilient. Such inputs are vital for technological progress, digital transformation, and energy transition.

One of the central focuses of the agreement is promoting the processing and refining of these minerals as close as possible to the extraction sites, which will help increase the value generated within Brazilian territory. The proposal aims to reduce the export of raw materials without any processing, instead stimulating investments in higher added-value industrial phases.

Collaboration in technology and sovereignty

The signed documents also foresee deepening cooperation in research, development, innovation, and knowledge transfer between both countries. Additionally, Brazil and South Korea plan to establish permanent mechanisms for technical exchange between their governments and improve institutional capacities dedicated to the mineral sector.

During the meeting, leaders reaffirmed the importance of maintaining national sovereignty and autonomy in defining public policies related to the exploration and use of mineral resources.

Intensification of bilateral relations

The rapprochement between Brazil and South Korea in the areas of energy and mining has been intensified since February of this year, when President Luiz Inácio Lula da Silva (PT) visited the Asian nation. During this visit, the governments launched the Action Plan for Implementing the Brazil-Korea Strategic Partnership 2026–2029, placing critical minerals among the priorities of mutual cooperation.

According to the Brazilian government, the adopted strategy consists of ensuring that the country's mineral potential is accompanied by the expansion of technological innovation, industrial transformation, and processing activities. The expectation is that this will attract foreign capital, reinforce the domestic production chain, and raise Brazil's participation in more valuable segments of the mineral industry.

Trade context and energy sectors

This strengthening of the partnership occurs in a scenario of growing trade exchanges between the two countries. In 2025, the volume of trade between Brazil and South Korea reached US$ 10.8 billion (equivalent to R$ 55.4 billion). Of this amount, US$ 5.5 billion (R$ 28.2 billion) represented Brazilian exports, while US$ 5.3 billion (R$ 27.2 billion) was recorded in imports, resulting in a positive balance of US$ 168 million (R$ 861.9 million) for Brazil.

Beyond mining, the countries intend to expand cooperation in other areas related to the energy transition. Sectors covered include the development of low-carbon hydrogen, bioenergy, renewable fuels, energy efficiency, smart infrastructure, battery storage, and carbon capture technologies.

Regarding critical minerals, the collaboration encompasses essential raw materials such as lithium, rare earths, nickel, and graphite. These materials are crucial for the production of electric vehicles and batteries, as well as other low-carbon technologies. It is expected that the demand for these inputs will increase considerably in the coming years, driven by the advancement of the global energy transition.

business-standard.comJuly 28, 06:31

Coforge reports first quarter: profit increased by 63%, revenue grew by 49%

Coforge Limited's consolidated net profit attributable to owners increased by 63.4% year-on-year, reaching INR 518.6 crore in the quarter ending June 30, 2026. Meanwhile, operating revenue grew by 49.2%, amounting to INR 5,527.7 crore.

Encora's Contribution to Results

The comparison of results was complicated by Coforge's acquisition of Encora, which was consolidated from May 1. During the period after the acquisition, Encora contributed INR 957.9 crore in revenue and INR 157.8 crore in profit after tax. The report noted that the current quarter cannot be compared with the same period a year ago.

Encora accounted for 17.3% of total revenue and 29.7% of the group's profit after tax for this quarter.

Expansion of EBIT Margin

Earnings Before Interest and Taxes (EBIT), which management uses to assess segment performance, rose by 101.5%, reaching INR 882.2 crore compared to INR 437.9 crore. The EBIT margin expanded by 414 basis points, rising from 11.8% to 16.0%.

Total expenses increased by 43.9%, totaling INR 4,797.4 crore. Among these, the growth in employee benefits expenses was 41.1% (to INR 3,125 crore), professional fees increased by 45.7% (to INR 700.2 crore), and depreciation and amortization by 51.4% (to INR 241.1 crore). Financial costs increased by 87.4%, reaching INR 86.6 crore.

Unexpected Expenses and Profit

Profit before exceptional items and taxes increased by 94.0%, amounting to INR 757.1 crore. The group recorded net exceptional expenses of INR 55 crore, higher than INR 24.8 crore the previous year, resulting in a profit before tax of INR 702.1 crore.

These exceptional items included INR 61.3 crore in costs for the acquisition and integration of Encora, INR 5 crore in legal expenses related to cybersecurity, and a provision of INR 10.8 crore against a client's debt following bankruptcy filing. These amounts were partially offset by a foreign exchange gain of INR 22.1 crore resulting from the devaluation of the Bolivian currency.

Total consolidated profit was INR 531.7 crore, which is 49.2% more than INR 356.4 crore. The figure for the current quarter relates exclusively to continuing operations, whereas the total figure for the last year included INR 70.2 crore in profit from discontinued operations.

Profit attributable to non-controlling interests decreased to INR 13.1 crore from INR 39 crore. Basic earnings per share for both continuing and discontinued operations rose to INR 12.34 from INR 9.47.

Regional Revenue Figures

Revenue from America increased by 63.4%, reaching INR 3,417.8 crore, and EBIT in the region more than doubled to INR 606.1 crore. Revenue from Europe, Middle East, and Africa grew by 33.6% to INR 1,492.4 crore, while revenue from the rest of the world business increased by 24.7% to INR 617.5 crore.

Dividends and Encora Acquisition

Coforge completed the acquisition of Encora on April 23, 2026. The allocation of the purchase price was preliminary and resulted in goodwill of INR 12,089 crore. The cash component of the deal was financed through US dollar borrowings of INR 550 million.

The Board of Directors announced an interim dividend of INR 4 per share for the financial year 27, setting August 3, 2026, as the record date. The dividend will be paid within 30 days of its announcement.

business-standard.comJuly 28, 05:10

GIFT Nifty predicts negative opening, Kospi falls by 8%, Brent oil below $88

GIFT Nifty indicators signaled a possible negative opening for the Nifty50 index. Most Asian markets traded in a declining trend, reflecting the drop in technology stock values.

Asian Market Overview

On July 28, 2026, GIFT Nifty showed signs of a negative start for Nifty50, despite mixed global signals. Futures were valued at 24,005 points, which is 23 points lower. Markets in the Asia-Pacific region traded in the red as investors closed their positions on technology stocks awaiting reports from Amazon, Meta Inc., and Apple Inc.

The Korean index Kospi fell by 8.04 percent, while SK Hynix shares dropped by 10 percent. Japan's Nikkei 225 and Australia's S&P ASX 200 indices also showed declines—by 3.84 percent and 0.23 percent, respectively.

US Market Situation

During the night, the Nasdaq Composite index closed down by 0.18 percent. However, the Dow Jones Industrial Average and S&P 500 showed growth: the latter by 0.51 percent, and the former by 0.02 percent.

Commodity Price Dynamics

Oil prices continued to fall amid optimism regarding a potential diplomatic settlement between the US and Iran. President Donald Trump stated that negotiations with Tehran are progressing successfully but warned that Washington would initiate military action if talks stalled. Iran also made similar statements.

July futures were valued at $87.52 per barrel on the International Continental Exchange, representing a drop of 0.95 percent. Gold and silver futures traded down by 0.67 percent and 1.79 percent, respectively.

uza.uzJuly 28, 01:21

Uzbekistan and Malaysia Develop Cooperation in High Technologies

A meeting took place in Kuala Lumpur, Malaysia, between a delegation from Uzbekistan and the management of Dagang NeXchange Berhad. During this meeting, issues regarding the development of cooperation in high-tech manufacturing, particularly in the semiconductor industry, were discussed.

Areas of Potential Partnership

The parties reviewed prospects for joint work on forming a semiconductor ecosystem in Uzbekistan, attracting investment to this industry, implementing advanced technologies, and training qualified specialists.

Company Experience and Activities

During the negotiations, special attention was paid to the experience and technological potential of DNeX in the semiconductor production sector. Dagang NeXchange Berhad is recognized as one of Malaysia's major technology firms operating in the fields of digital technologies, information and communication services, energy, and semiconductors.

The company acquired a 60% stake in SilTerra Malaysia Sdn. Bhd. in 2021, which is one of the leading semiconductor manufacturers in the country.

Meeting Outcomes and Future Cooperation

At the conclusion of the meeting, representatives of both sides stated their readiness to continue mutually beneficial relations aimed at developing high-tech manufacturing capabilities, exchanging experience, and expanding investment partnerships. According to information from the Ministry of Economy and Finance's information service, this meeting is of great importance for strengthening technological partnership between Uzbekistan and Malaysia, as well as for implementing new joint projects in innovative industrial sectors.