Arab News, Mon, Jul 22, 2024 | Muharram 15, 1446
Saudi industry minister to visit Brazil, Chile to explore lithium production
Saudi Arabia:
Bandar Alkhorayaf, Saudi Arabia’s mining and industry minister, will visit
Brazil and Chile this week, the ministry said on Sunday.
In Brazil, he will hold meetings with officials to
discuss expanding the Kingdom’s mining capacity, food processing, and aviation,
while in Chile he will explore lithium production, needed for electric vehicle
batteries.
“This aligns with the Kingdom’s direction towards
expanding the production of EVs,” a Saudi government statement said.
Alkhorayaf will land in Brazil on Monday and leave
for Chile, the world’s second-largest producer of lithium, next Sunday.
On the first leg of the tour in Brazil, Alkhorayaf
will meet agricultural and industrial groups, including Minerva Foods, JBS, and
BRF SA, as well as the Brazilian Mining Association and mining company Vale.
Brazil’s Energy Minister Alexandre Silveira said
last month that Saudi Arabia’s Public Investment Fund plans to invest $15
billion in Brazil in areas such as green hydrogen, infrastructure, and renewable
energy.
In Chile, the minister will meet his counterpart
Aurora Williams, as well as mining companies Antofagasta, and Codelco, a
state-run company tasked with bringing the Chilean government into the lithium
industry.
Saudi Arabia’s sovereign wealth fund, the PIF, and
the Kingdom’s mining company, known as Ma’aden, which is 67 percent owned by the
PIF, formed a joint venture called Manara Minerals to invest in mining assets
abroad.