The document is expected to be signed during the upcoming visit of Brazilian President Luiz Inácio Lula da Silva to New Delhi next week.
According to the report, Brazilian authorities are keen to find new partners for joint mineral extraction and are interested in advancing technological collaboration in this field. During the Brazilian leader's visit, the two sides plan to sign 11 agreements, including in the mining and aerospace industries.
It is expected that Lula da Silva will also hold talks with Indian Prime Minister Narendra Modi. The Brazilian president aims to discuss with the Indian side the reform of international institutions, including the United Nations Security Council.
The President of Brazil will visit India from February 18 to 22.