Chinese electric carmaker BYD acquired mineral rights for two plots of land in a lithium-rich part of Brazil in 2023, entering the mining business in its biggest market outside of China, according to public records reviewed by Reuters.

Chinese EV giant BYD (SZ:002594) has acquired mineral rights in Brazil, marking a major step into lithium mining in its largest market outside China. The acquisition, made in late 2023 through its subsidiary

This strategic expansion into the uranium sector positions Pioneer Lithium as a key player in the critical minerals space. As the global energy landscape continues to evolve, the company is well-positioned to capitalize on the growing demand for uranium and contribute to the global transition towards cleaner energy sources.

The plots are located near BYD's new factory project in north-east Brazil, close to US-listed miner Atlas Lithium's holdings.