Saudi Gazette report

RIYADH — Minister of Industry and Mineral Resources Bandar Alkhorayef concluded an official visit to Chile, where he engaged in discussions with ministers and private-sector leaders to enhance cooperation in the industrial and mining sectors.

The talks focused on knowledge transfer, innovative mining technologies, and mutual investment opportunities in the production and processing of minerals, particularly lithium, copper, and iron ore.

In a meeting with Chilean Minister of Mining Aurora Williams, Alkhorayef explored cooperation opportunities in the mining sector and key industrial sectors with high export and import potential, such as chemicals, auto parts, and electronics.

He also invited Minister Williams to participate in the ministerial roundtable of the International Mining Conference in Riyadh next January.

Alkhorayef's discussions with Chilean Finance Minister Mario Marcel centered on enhancing trade between Saudi Arabia and Chile and the Kingdom’s ambition to lead in the electric-vehicle (EV) industry. They reviewed the National Industrial Strategy's sectors and objectives and the Kingdom's comprehensive mining strategy.

During a meeting with acting Minister of Economy, Development, and Tourism Verónica Pardo, Alkhorayef highlighted investment opportunities in Saudi Arabia’s industrial and mining sectors. He emphasized the significant value tourism and mining sectors aim to add under Saudi Vision 2030. They also discussed enhancing the export of Saudi phosphate fertilizers to Chile, crucial for the agricultural sector and food security.

Alkhorayef commended the strong relations between Saudi Arabia and Chile in his meeting with acting Minister of Foreign Affairs Gloria de la Fuente, noting these ties create opportunities for development in various economic and commercial fields.

Participating in a roundtable organized by the Ministry of Industry and Mineral Resources in collaboration with the Chilean industrial federation SOFOFA, Alkhorayef engaged with representatives of major Chilean mining companies.

In discussions with Ruben Alvarado, chief executive of Chilean mining giant CODELCO, Alkhorayef explored investment opportunities in mineral production and processing, particularly lithium and copper. CODELCO, one of the world’s largest copper producers, has a significant presence in major markets including Asia, Europe, and the United States. There is a partnership between Saudi Arabia and CODELCO through Almar Water Solutions, owned by Abdul Latif Jameel, focusing on processing raw materials for EV battery manufacturing.

Alkhorayef also held bilateral meetings with leaders of major Chilean mining companies, including Antofagasta and SQM, discussing high-quality opportunities in the mining sector, with a focus on copper, lithium, and iron production. The discussions reviewed the role of Manara Minerals in leveraging these opportunities.

Additionally, he met with officials from the Advanced Mining Technology Center (AMTC) and the Anglo American Mining Control Center to explore ways to enhance cooperation in the mining sector.