Bandar Ibrahim Alkhorayef, Saudi Minister of Industry and Mineral Resources, has discussed with Alexandre Silveira, Brazilian Ministry of Mines and Energy, to strengthen the economic ties between the countries while enhancing the kingdom’s mining sector.
This move falls in line with Saudi Vision 2030, aiming to transform the mining sector by enhancing licensing transparency, promoting national industries and flourishing job opportunities to diversify the kingdom’s economy.
The meeting, held in Brazil, was attended by Khalid bin Saleh Al-Mudaifer, Vice Minister of Industry and Mineral Resources for Mining Affairs, Saeed Alkhalb, Saudi EXIM Bank Chief Executive and Faisal Ghulam, Saudi Ambassador to Brazil.
Saudi Arabia focuses on enhancing the mining sector by boosting exploration and mining activity with an aim to reduce relying on oil revenue. In 2022, the Ministry of Industry and Mineral Resources launched “Accelerated Exploration” to support the growth of this sector by attracting both domestic and foreign investments.
During the meeting, the two parties highlighted the significance of strengthening the relations between Saudi Arabia and Brazil, capitalizing on their growing economic development. The meeting also highlighted various collaborative projects between the two countries in the mining and industrial sectors.
A comprehensive overview of Future Mineral forum (FMF) 2025 was also included in the meeting. FMF focuses on facilitating global industry connectivity, which brings together governments, international organizations, and stakeholders to jointly shape the future of minerals.
This meeting is a part of Alkorayef’s broader official tour that includes both Brazil and Chile from July 22-30. Alkorayef attended a meeting organized by the Federation of Industries in Sao Paulo, where he invited Brazilian firms to invest in Saudi’s expanding mining sector, emphasizing its potential for significant progress.
