Saudi Gazette report

PARA, Brazil — Minister of Industry and Mineral Resources, Bandar Al-Khorayef, visited Vale's Carajas mines in the Brazilian Amazon forests, accompanied by Deputy Minister Eng. Khaled Al-Mudaifer and other leaders of the industry and mining sector.

During the visit, Al-Khorayef was briefed on the modern technologies used by Vale in extracting and processing minerals, including remote mine management technology and the use of driverless trucks for transporting mining materials.

He also discussed with company officials the transfer of knowledge and expertise in mining, particularly in the context of preserving rainforests while conducting mining activities.

Vale, one of the largest iron ore production complexes globally, has extensive experience in balancing iron ore exploitation within nature reserves, preserving the Amazon forests and their ecosystems, and fostering effective partnerships with surrounding communities.

The discussions also included Vale's expansion plans in Saudi Arabia and opportunities for cooperation in developing the Carajas mines and enhancing their annual production, which currently exceeds 300 million tons of iron ore.

This visit is part of Al-Khorayef's tour of Brazil and Chile aimed at strengthening bilateral relations and attracting investments to Saudi Arabia's industrial and mining sectors. The two countries have significant economic and investment relations in various sectors, notably the food and mining industries.

Saudi Arabia supplies Brazil with 16% of its phosphate fertilizer needs through the production of Maaden Company. Vale has growing ties with the Saudi mining sector, with Manara Minerals, a joint venture between the Public Investment Fund and Maaden, investing in a 10% stake in Vale.

Vale is also developing a factory and logistics center for processing and producing iron pellets in Ras Al Khair Industrial City in Saudi Arabia, with an investment exceeding SR4 billion and a production capacity of up to 4 million tons annually of iron pellets, the main material for steel production.