Saudi Arabia’s Manara Minerals Investment Co., supported by the Kingdom’s sovereign wealth fund, is considering potential investments in lithium production in Chile, a top official revealed.
During a state visit to Chile, Saudi Arabia’s Industry and Mineral Resources Minister Bandar Alkhorayef shared with Reuters that the Kingdom is evaluating various investment opportunities in the nation, known as the top lithium producer globally.
Alkhorayef highlighted Manara’s interest in Chile, particularly because of its status as the leading producer of the crucial battery metal.
The Kingdom’s strategic moves to gain access to lithium and other essential minerals align with its goals to establish itself as a center for battery and electric vehicle production.
Formed in 2023 by the Public Investment Fund and Saudi Arabian Mining Co., Manara Minerals is a key player in Saudi Arabia’s plan to diversify its economy and leverage its rich mineral deposits.
