S. Arabia’s Manara Minerals explores lithium investment in Chile

Manara Minerals, a joint venture between Saudi Arabia’s Ma’aden and the Public Investment Fund (PIF), is evaluating investment opportunities in Chile’s lithium sector, according to Saudi mining minister Bandar Alkhorayaf. During his visit to Chile, Alkhorayaf stated that Manara was “analysing the different options.”

This move supports Saudi Arabia’s strategy to secure lithium for its emerging battery and electric vehicle (EV) manufacturing sector. Alkhorayaf noted Chile’s potential as the world’s second-largest lithium producer. He further highlighted the Chilean government’s commitment to facilitating investment.

Meetings were held with Chile’s mining ministry and Codelco representatives. Further discussions are planned with other mining companies. Alkhorayaf emphasised the urgency in securing lithium supplies to produce EV batteries domestically, stating, “We are serious to source it now … as soon as possible.”

In talks with Chilean mining minister Aurora Williams, they discussed minerals supply, water issues, and collaboration opportunities.

Attribution: Reuters