Saudi Miner Ma’aden to Explore Brazilian Resources
Ma’aden, a Saudi Arabian mining company, will invest R8 billion ($1.3 billion) in Brazil. This investment will map, research, and explore strategic minerals. These minerals are “essential to the energy transition,” according to Brazilian mines and energy minister Alexandre Silveira. The announcement occurred at the Future Minerals Forum in Riyadh, Saudi Arabia.
“We know that we need to learn more about our subsoil,” the minister stated. “Because there is no [energy] transition without mining.” Ma’aden’s investment signifies a strong interest in Brazil’s mineral potential.
UAE Partnership and Brazilian Investments
The UAE will also partner with Brazil’s mines and energy ministry. This partnership will explore and develop Brazil’s metals industry. Investments could reach R15 billion. These investments will focus on research, processing, trading, technology, and professional training.
Earlier this month, Brazil’s Bndes development bank announced a R5 billion investment. This investment targets strategic metals projects within Brazil. Brazil holds significant mineral reserves. It has the largest niobium reserves and is the top producer. Additionally, it possesses the second-largest natural graphite reserves. Brazil ranks third in nickel and rare earth reserves. It is the fifth-largest lithium and third-largest silicon producer. SuperMetalPrice reports that these are very important resources.
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