In the global scramble for critical minerals, everyone seems to want a piece of Brazil. The European Union became the latest power to pitch a minerals deal to Brasília late last month, adding to a flood of interest, both new and old, from countries including the United States, South Korea, Japan, India, Canada, Australia, and China. All of them are eyeing Brazil’s potential rare-earth riches: The country claims the world’s second-biggest rare-earth reserves after China, potential treasures that companies have long tried—and mostly failed—to unlock. In the global scramble for critical minerals, everyone seems to want a piece of Brazil. The European Union became the latest power to pitch a minerals deal to Brasília late last month, adding to a flood of interest, both new and old, from countr