Brazil and Saudi Arabia expand cooperation in mining

Memorandum strengthens technical exchange, investment and projects in strategic minerals for the energy transition.

Brazil’s Ministry of Mines and Energy and the Ministry of Industry and Mineral Resources of the Kingdom of Saudi Arabia have formalized a Memorandum of Understanding (MoU) to expand bilateral cooperation in mineral resources. Details include:

• Agreement signing: held in Riyadh by Brazil’s Minister of Mines and Energy Alexandre Silveira and Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef, following advances achieved by the Brazilian mission in the Middle East.
• Objective: to establish a framework for knowledge exchange, investment promotion and the joint development of technologies applied to geology and mining.
• Term: five years.
• Areas of technical cooperation: geology, exploration, mining and mineral assessment.
• Planned actions: exchange of specialists, implementation of training programs and transfer of modern technologies.
• Private sector participation: incentives for investment by Brazilian and Saudi companies, including the acquisition of exploration and mining licenses, in accordance with the legislation of each country.

Brazil–Saudi Arabia Mining Investment Alliance

Among the planned initiatives is the potential creation of a Brazil–Saudi Arabia Mining Investment Alliance, aimed at cooperation in exploration, processing and value addition of strategic minerals, in coordination with government entities.

The agreement also provides for training programs for geologists, mining engineers and environmental specialists, with a focus on efficient use of mineral resources and mitigation of environmental impacts.

“Brazil is building strategic alliances with countries that share a vision of the future based on development, innovation and the energy transition. The Brazil–Saudi Arabia Mining Investment Alliance is a concrete step in this direction, bringing together financial capacity, technology and geological potential to generate sustainable growth and opportunities for both nations.” 

Alexandre Silveira – Minister of Mines and Energy

Strategic minerals and energy transition

In the fields of geology and mining, the understanding reinforces interest in projects related to energy transition minerals, including processing initiatives in Brazil, partnerships in research, development, innovation and cooperation in logistics infrastructure to support mining activities.

In addition, the initiatives continue the dialogue launched between Minister Alexandre Silveira and Saudi Minister Bandar Al-Khorayef focused on developing financial instruments and investment funds for the mineral sector and on strengthening bilateral trade in mineral inputs, with emphasis on fertilizers.

The agreement consolidates the partnership between Brazil and Saudi Arabia and broadens the scope of bilateral cooperation in strategic areas for sustainable development, mineral security and the energy transition.

Source: Agência Brasil