RIYADH: Saudi Arabia's Minister of Mines and Industries, Bandar Al Khorayaf, will visit Brazil and Chile this week, the ministry said on Sunday.
In Brazil, he will hold meetings with officials to expand the state's mining capacity, food processing and aviation, while in Chile he will explore the production of lithium needed for electric vehicle batteries.
“This is in line with the kingdom's directive to expand production of EVs,” the Saudi government said in a statement.
Alkhoryaf will land in Brazil on Monday and leave for Chile, the world's second-largest lithium producer, next Sunday.
During the first leg of the visit to Brazil, Alkhorayaf will meet with agricultural and industrial groups including Minerva Foods, JBS, and BRF SA, as well as the Brazilian Mining Association and mining company Vale.
Brazilian Energy Minister Alexandre Silvera 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 government company tasked with bringing the Chilean government into the lithium industry.
Saudi Arabia's sovereign wealth fund, PIF, and the Kingdom's mining company, 67 percent owned by PIF, known as Ma'aden, formed a joint venture called Manara Minerals to invest in mining assets overseas.
