RIYADH: Saudi Minister of Mines and Industry Bandar Al-Khorayaf will visit Brazil and Chile this week, the ministry said on Sunday.
In Brazil, he will hold meetings with officials to discuss expanding Saudi Arabia's mining, food processing and aviation capabilities, while in Chile he will explore production of lithium, which is needed for electric vehicle batteries.
“This is in line with Saudi Arabia’s direction in expanding the production of electric vehicles,” the Saudi government said in a statement.
Alkorayaf is set to arrive in Brazil on Monday and depart for Chile, the world's second-largest lithium producer, next Sunday.
On the first leg of the tour in Brazil, Alkhorayaf will meet with farmers and industry groups, including Minerva Foods, JBS and BRF SA, as well as the Brazilian Mining Association and mining company Vale.
Brazil's Energy Minister Alexandre Silveira said last month that Saudi Arabia's Public Investment Fund planned to invest $15 billion in Brazil in areas such as green hydrogen, infrastructure and renewable energy.
In Chile, the minister will meet with his counterpart Aurora Williams, as well as mining giant Antofagasta and Codelco, the state-owned company tasked with leading Chile's entry into the lithium sector.
Saudi Arabia's Sovereign Wealth Fund (PIF) and Saudi mining company Ma'aden, in which PIF holds a 67 percent stake, have formed a joint venture called Manara Minerals to invest in overseas mining assets.
