Rio de Janeiro, Brazil — Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, met with Eduardo Bartolomeo, CEO of Brazilian mining giant Vale, to explore new opportunities in Saudi Brazil mining investment. The talks, attended by Deputy Minister for Mining Affairs Khalid bin Saleh Al-Mudaifer, aimed to deepen Saudi-Brazilian cooperation by using the Kingdom’s mining incentives and regulatory enablers.
The meeting builds on Saudi Arabia’s acquisition of a 10% stake in Vale’s base metals division through Manara Minerals—a joint venture between the Public Investment Fund (PIF) and Maaden. In particular, discussions emphasized advanced technologies to boost production and support environmental goals.
Strengthening Saudi Brazil Mining Investment Ties
Bartolomeo praised Saudi Arabia’s economic momentum and its expanding industrial infrastructure. He highlighted the support Vale received for its Ras Al-Khair iron pelletizing facility. He also invited the Saudi delegation to visit Vale’s mining sites in Carajás, Brazil.
With more than 50 years of bilateral ties, Brazil is a key partner in Saudi Arabia’s industrial diversification. Their joint focus includes energy and mineral development. This supports Vision 2030, which aims to make mining the third pillar of the Saudi economy.
Saudi Arabia holds SAR 9.4 trillion in untapped mineral resources. Its new National Minerals Program and SAR 120 billion plan for strategic metals aim to unlock this value. The program is backed by tax incentives, legal reforms, and support for foreign investors.
Saudi Brazil Mining Investment Expands to Manufacturing Sector
In a separate meeting, Minister Al-Khorayef met Magda Chambriard, CEO of Petrobras. They explored cooperation in manufacturing and petrochemicals. These meetings are part of a broader ministerial tour of Brazil and Chile from July 22 to 30. The goal is to attract investment and build long-term industrial partnerships.
The Saudi Standard’s View: Resource Diplomacy in Action
Saudi Arabia’s engagement with Vale and Petrobras shows that Saudi Brazil mining investment is central to its industrial strategy. These visits go beyond trade. They aim to secure partnerships that support technology transfer, stabilize supply chains, and grow future-ready industries. As Saudi mining policy matures, partnerships with countries like Brazil help transform mineral assets into economic growth.
