News

25/07/24

Cooperation between IBRAM and the Saudi government, proposed by Raul Jungmann, president of the Institute, will be discussed in a working group, organized by the Saudi Arabian embassy in Brazil and will have the participation of mining companies, IBRAM and the Ministry of Mines and Energy.

The Brazilian Mining Institute (IBRAM) opens up more opportunities for investment, business and information exchange for Brazilian mining, by establishing a partnership with the Saudi government aimed at promoting the sector, engaging it among industries essential for the sustainable future of economies on all continents.

In a meeting at the Institute’s headquarters, in Brasília, this Thursday (25/7), the CEO, Raul Jungmann, the president of the Board of Directors, Ana Sanches, the Saudi Minister of Industry and Mineral Resources, Bandar Ibrahim Alkhorayef, and the Deputy Minister for Mining Affairs, Khalid Saleh Al-Mudaifer, agreed to form a working group to discuss mutual interests of the two countries related to the development of industrial mining projects, as proposed by Raul Jungmann.

The GT will be organized by the Saudi Arabian embassy in Brazil and will have the participation of mining companies associated with IBRAM, the Institute itself and the Ministry of Mines and Energy. The proposal is to advance discussions around investment and business opportunities, synergies and challenges related to the mineral sector to present these topics at the Future Minerals Forum (FMF), an important global platform for minerals, to be organized by Saudi Arabia in January, as stated by Minister Bandar Ibrahim Alkhorayef.

“The GT will be an important bilateral mechanism for us to advance the discussion of projects of mutual interest between Brazil and Saudi Arabia with a focus on the development of mining projects, and that we can continue the debate during the Future Minerals Forum, in that country, in January ”, said Raul Jungmann. He believes that the partnership will develop initiatives aimed at boosting the production of critical minerals for the energy transition, which is a global demand and represents an excellent opportunity for the expansion of the mining industry.

Ana Sanches agreed and added that the GT will provide high-level discussion, between representatives of both countries and the private sector, for “concrete actions and tangible plans” aimed at creating strategic partnerships to expand Brazilian mining into new businesses with Saudis.

To demonstrate Saudi Arabia’s real interest in working together with Brazilian mining, Minister Alkhorayef recommended that Brazilian miners, throughout the negotiations in the GT and FMF, provide detailed data on their mining projects, including investment values requested for objective analysis by international investors. “We want a business language (in the presentation of projects) with solid numbers of how many resources are needed for investments”, he said, adding that “this meeting at IBRAM is the beginning of a great future for our countries”.

Deputy Minister Khalid Saleh Al-Mudaifer said that Saudi Arabia is aware that investments in mining must be considered in the long term and “require a lot of effort and stability in policies, energy supply, logistics, among other aspects. Our government is willing to propose paths in partnership with the private sector, meeting their needs.”