Saudi Arabia Explores Lithium Investment Opportunities in Chile

Saudi Arabia Explores Lithium Investment Opportunities in Chile
Saudi Arabia's state-owned mining company Manara Minerals is exploring investment opportunities in lithium production in Chile.

According to the Saudi mining minister Bandar Alkhorayaf Manara, a joint venture between Ma'aden and the Public Investment Fund is analysing various options in the world's second-largest lithium producer. 

Alkhorayaf expressed Saudi Arabia's interest in securing lithium supply, including from Chile, to support its domestic electric vehicle battery production goals.

Alkhorayaf added that Saudi Arabia was interested in quickly securing supply of lithium, including from Chile, as it aimed to produce EV batteries domestically.

"We have a leadership that's very ambitious. We are serious to source it now ... as soon as possible," he said.

In a meeting with his Chilean counterpart Aurora Williams, the two discussed the minerals supply chain, water supply issues and lithium, according to Chile's mining ministry.

Alkhorayaf also proposed setting up a group between both governments to explore possible collaboration, according to a ministry statement.