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| Ma'aden |
Saudi Miner Focuses on Strategic Resources for Energy Transition
Ma'aden will invest R8bn ($1.3bn) in Brazil. The investment aims to map and explore strategic minerals. These minerals are essential for the energy transition. Brazilian mines and energy minister Alexandre Silveira announced the investment. The announcement occurred at the Future Minerals Forum in Riyadh. "We need to learn more about our subsoil," the minister stated. "There is no energy transition without mining." The focus is on identifying and developing critical mineral resources.
UAE Partnership and Brazil's Mineral Wealth
The UAE will also partner with Brazil's mines and energy ministry. This partnership will explore and develop Brazil's metals industry. Investments may reach R15bn. These investments will focus on research, processing, trading, technology, and training. Bndes development bank previously announced a R5bn investment. This investment targets strategic metals projects in Brazil. Brazil holds significant mineral reserves. It has the largest niobium reserves and is the largest producer. Brazil also has the second-largest natural graphite reserves. It ranks third for nickel and rare earths reserves. Brazil is the fifth-largest lithium and third-largest silicon producer.
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