Saudi, Chile conclude talks on mining, industrial cooperation

The Kingdom’s Industry and Mineral Resources Minister Bandar AlKhorayef has concluded his visit to Chile where he held talks with leading private and public sector officials on boosting cooperation, the Saudi Press Agency reported on Friday.

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, particularly lithium, copper, and iron ore, the SPA reported.

At a meeting with Chile’s Mining Minister Aurora Williams, AlKhorayef focused on cooperation in sectors with high export and import potential including chemicals, auto parts and electronics.

AlKhorayef invited the minister to participate in January’s ministerial roundtable of the International Mining Conference to be held in Riyadh.

With Chile’s Finance Minister Mario Marcel, AlKhorayef discussed ways to enhance trade, as well as the Kingdom’s endeavor to become a leader in the electric-vehicle industry.

They 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 highlighted mutual investment opportunities and the aims of the Saudi Vision 2030 economic diversification plan.

The two sides looked at opportunities to enhance the export of Saudi Arabia’s phosphate fertilizers to Chile, given their importance in the agricultural sector for food security.

AlKhorayef also held talks held with Foreign Affairs Acting Minister Gloria de la Fuente; and participated in a roundtable meeting with the South America nation’s industrial federation SOFOFA, which was attended by representatives from major mining companies.

In addition, AlKhorayef met with Ruben Alvarado, CEO of mining giant CODELCO, to discuss investment opportunities in the production and processing of minerals, particularly lithium and copper.

CODELCO is one of the world’s largest copper producers and has a significant presence in major markets, including Asia, Europe and the US.

The Kingdom 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.

AlKhorayef also held a series of meetings with leaders of major Chilean and multinational mining companies, including Antofagasta, SQM, Advanced Mining Technology Center, and the Anglo American Mining Control Center.