Saudi Arabia’s mining minister is set to visit Chile at the end of July to meet with his Chilean counterpart in Santiago, aiming to explore potential investments in lithium, according to a Chilean government source.
Saudi Interest in Overseas Lithium for EV Sector
In a recent interview with Reuters, Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef expressed the Middle Eastern country’s interest in acquiring lithium from overseas as part of its strategic push into the electric vehicle (EV) market.
Chile: A Key Player in Lithium Production
Chile, the world’s second-largest producer of lithium, is a critical player in the global supply chain for the ultralight metal essential for EV batteries. The worldwide shift towards EVs has intensified the competition among automakers and global powers for lithium resources.
Engagement with Chilean Mining Sector
Chilean newspaper Diario Financiero first reported the planned visit, noting that Alkhorayef is expected to meet with Chilean Mining Minister Aurora Williams. The report also highlighted Saudi Arabia’s interest in engaging with Codelco and Enami, state-run mining companies that are integral to Chile’s lithium industry.
Seeking Partnerships for Lithium Projects
Both Codelco and Enami are actively seeking private sector partners to initiate new lithium projects—Codelco in the Maricunga salt flat and Enami in the Altoandinos brine deposits. However, the Mining Ministry and Codelco have yet to respond to requests for comment. Enami reported that it has not received any formal meeting requests from Saudi officials or companies.
Diplomatic Engagement and Future Prospects
In April, Chile’s mining ministry acknowledged that the Saudi embassy in Santiago had approached them regarding hosting a delegation to discuss potential investments. Last week, Saudi Ambassador to Chile Khalid Alsaloom posted on social media about his meeting with Minister Williams, where they discussed topics of mutual interest in the mining sector
