Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, visited Brazil’s Carajás mines, seeking investment opportunities in one of the world’s largest iron ore production hubs. Operated by Vale, the Carajás complex in the Amazon rainforest produces over 300 million tons of iron ore annually.

Saudi Arabia, aiming to diversify its economy and reduce its reliance on oil, sees potential in Brazil’s mining expertise and resources. During the visit, both countries discussed knowledge sharing on sustainable mining practices and environmental protection.

Vale is also expanding its presence in Saudi Arabia, developing a plant and logistics center for iron pellet processing and production in Ras Al Khair Industrial City. This partnership, while promising, faces challenges in balancing economic interests with environmental protection and ensuring sustainable development for local communities.