Riyadh, 2 August 2024 (TDI): Saudi Minister for Industry and Mineral Resources Bandar AlKhorayef has concluded his visit to Chile where he held talks with leading private and public sector officials on boosting cooperation.
There were discussions held on the transfer of knowledge, the latest innovative technologies in mining, and mutual investment opportunities in the production and processing of minerals, especially lithium, copper, and iron ore.
At a meeting with Chile’s Mining Minister Aurora Williams, AlKhorayef focused on cooperation in sectors with high export and import potential including auto parts, chemicals, and electronics.
AlKhorayef invited the minister to participate in a ministerial roundtable of the International Mining Conference to be held in January in Riyadh.
With Chile’s Finance Minister Mario Marcel, AlKhorayef discussed ways to enhance trade, as well as Saudi Arabia’a endeavor to become a leader in the electric-vehicle industry.
Both reviewed the sectors and objectives of the National Industrial Strategy and the Kingdom’s mining strategy.
During a meeting with Economy, Development and Tourism Acting Minister Veronica Pardo, AlKhorayef underlined mutual investment opportunities and the objectives of the Saudi Vision 2030 economic diversification plan.
The two sides looked at opportunities to increase the export of Saudi Arabia’s phosphate fertilizers to Chile, given their signifiance in the agricultural sector for food security.
AlKhorayef also held a meeing with Foreign Affairs Acting Minister Gloria de la Fuente; and attended a roundtable meeting with the South America nation’s industrial federation SOFOFA, which was participated by representatives from major mining companies.
Moreover, AlKhorayef met with Ruben Alvarado, CEO of mining giant CODELCO, to discuss investment opportunities in the production and processing of minerals, especially lithium and copper.
CODELCO is one of the world’s largest copper producers and has a notable presence in major markets, including Asia, Europe and the US.
Saudi Arabia and CODELCO have a partnership through the Almar Water Solutions company, owned by Abdul Latif Jameel. This project focuses on processing raw materials for the manufacture of EV batteries.
