São Paulo – Brazil’s Minister of Mines and Energy, Alexandre Silveira, and Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Alkhorayef, signed a memorandum of understanding on Tuesday (13) in Riyadh, providing for several joint actions in mineral resource exploration. In the Saudi capital, Silveira attended the annual Future Minerals Forum.
According to information from the Ministry of Mines and Energy, the MoU will be valid for five years, during which technical cooperation actions may be carried out in geology, exploration, mining, and mineral evaluation, as well as exchanges of specialists, training programs, and technology sharing. Subject to each country’s legislation, the memorandum also provides for private-sector investment from both countries in the acquisition of exploration and mining licenses.
The partnership also points to the creation of a Brazil–Saudi Arabia mining investment alliance. According to the Ministry, the goal is to foster cooperation in the exploration, processing, and value addition of strategic minerals.
“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 peoples,” Silveira said in a statement from the Ministry. Saudi Arabia also signed memorandums of understanding on mineral exploration with Chile and Canada during the forum.
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Translated by Guilherme Miranda
