Saudi Mining Minister to Visit Brazil and Chile to Boost Kingdom’s Industry
Saudi Arabia’s dynamic mining and industry minister, Bandar Alkhorayaf, is set to embark on a crucial visit to Brazil and Chile this week, as confirmed by the ministry on Sunday.
During his visit to Brazil, Alkhorayaf will engage in high-level meetings with officials to explore avenues for expanding the Kingdom’s mining capacity, enhancing food processing capabilities, and delving into the aviation sector. Meanwhile, in Chile, the focus will be on lithium production, a key component for electric vehicle batteries.
“This aligns perfectly with the Kingdom’s strategic goal of ramping up the production of electric vehicles,” emphasized a statement from the Saudi government.
The journey will kick off as Alkhorayaf touches down in Brazil on Monday before jetting off to Chile, renowned as the world’s second-largest lithium producer, on the following Sunday.
In Brazil, Alkhorayaf’s itinerary includes pivotal meetings with agricultural and industrial heavyweights such as Minerva Foods, JBS, and BRF SA, along with key players like the Brazilian Mining Association and mining giant Vale.
Brazil’s Energy Minister Alexandre Silveira had earlier disclosed that Saudi Arabia’s Public Investment Fund is eyeing a massive $15 billion investment in Brazil, with a focus on green hydrogen, infrastructure, and renewable energy.
Upon reaching Chile, the minister will engage in discussions with his counterpart Aurora Williams and meet with major mining entities such as Antofagasta and Codelco, the state-run company spearheading Chile’s lithium industry initiatives.
It is worth noting that Saudi Arabia’s sovereign wealth fund, the PIF, along with the Kingdom’s premier mining company Ma’aden (67% owned by the PIF), have established a joint venture named Manara Minerals to pursue lucrative mining opportunities abroad.