Saudi Mining Company To Open Office In São Paulo

(MENAFN- Brazil-Arab News Agency (ANBA)) São Paulo – Saudi mining company Ma'aden will open an office in São Paulo and is expected to invest up to USD 1.3 billion in Brazil, according to information released on Tuesday (14) by Brazil's Mines and energy Minister Alexandre Silveira. The announcement was made by the minister during the opening of the Future Mineral Forum, an event taking place from Tuesday through Thursday (16) in Saudi capital Riyadh. At the forum, Silveira participated in the mining ministers' roundtable discussion.

“Ma'aden will establish an office in São Paulo for the first time. This opens up the prospect of significant resources- they mentioned an investment of around BRL 8 billion [USD 1.3 billion] -for geological mapping in Brazil. We know we lack sufficient knowledge about our own subsoil for research and partnerships with the Brazilian mining sector, so we can achieve the sustainable and appropriate use of Brazil's subsoil, as there can be no energy transition without mining,” said Silveira after the forum's opening, according to information from the Ministry. The Ministry's press office told ANBA the office is expected to open in March.

Silveira has been visiting Gulf countries since the weekend. He visited the United Arab Emirates, where he signed a memorandum of understanding for mining research and development in partnership with the UAE Ministry of Investments. He also participated in the General Assembly of the International Renewable Energy Agency (IRENA), an institution to which Brazil resumed its membership process after it was interrupted by the previous administration.

In Saudi Arabia, he visited facilities of oil company Saudi Aramco and petrochemical company Sabic. Representatives from both companies were in Brazil in 2024. He also met with local authorities, such as the Saudi Minister of Industry and Mineral Resources, Bandar Ibrahim Alkhorayef.

On Monday afternoon (13), the president of Brazil, Luiz Inácio Lula da Silva, spoke with the crown prince and prime minister of Saudi Arabia, Mohammed bin Salman Al Saud. Lula invited the prince to visit Brazil this year during a conversation in which they also discussed diversifying the trade flow between the two countries to include higher-value-added items. Saudi Arabia is Brazil's top trading partner among Arab countries, but exports are still concentrated on commodities.

According to information from the president's office, Lula said relations between the two countries are at an“excellent moment” and that the Brazil-Saudi Coordination Council, created in November 2024, will strengthen dialogue between the two nations. He also thanked Saudi Arabia for joining the Global Alliance Against Hunger and Poverty spearheaded by Brazil. During this conversation, Lula mentioned he had received a“positive report” of potential bilateral cooperation from Minister Alexandre Silveira himself. Last week, the Brazilian president had a phone conversation with the emir of Qatar, Tamim bin Hamad Al Thani.

Read more:
Brazil, UAE sign MoU to collaborate on mining

Translated by Guilherme Miranda

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