Saudi Arabia - Vale-Minerals Agreement

On July, 2023, Manara Minerals, a joint venture  between  Ma’aden, a state owned company,  and  Saudi  Arabia’s  Public  Investment  Fund, signed a binding agreement with Vale  Base  Metals  Limited  (VBM) for an equity interest of 10% at an enterprise implied value of US$26 billion. The partnership will expand VBM's copper and nickel production, and will allow Manara Minerals access to VBM mining projects in Canada, Brazil, and Indonesia. Therefore, Saudi Arabia will secure high purity minerals such as copper, nickel, and lithium, which are essential for the Kingdom's 2030 domestic manufacturing vision of electric vehicles, aluminum, and battery cells.

Want to know more about this policy ? Learn more