Saudi Arabia Seeks Stakes in Global Mining Ventures Amid Industry Consolidation
Jan 23, 2025

Saudi Arabia Seeks Stakes in Global Mining Ventures Amid Industry Consolidation

In a strategic move to bolster its economic transformation, Saudi Arabia is actively seeking to secure stakes in global mining ventures as the industry undergoes significant consolidation. According to a source, the Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef, emphasized the potential benefits of this strategy at the World Economic Forum in Davos.

Alkhorayef mentioned that Manara Minerals Investment Co., backed by the Saudi sovereign wealth fund, might express interest in acquiring Barrick Gold Corp.'s stake in Chile's Zaldivar copper mine. The potential acquisition aligns with Saudi Arabia's broader vision of economic diversification, which has already seen significant advancements, such as the country's first major international mining acquisition in 2023—a 10% share in Brazilian firm Vale SA's base metals unit.

The Kingdom's interest in investing abroad comes amid industry giants like Rio Tinto Group and Glencore Plc engaging in discussions for potential mergers to challenge BHP Group's dominance. In another vein, BHP's attempted acquisition of Anglo American Plc underscores the significant industry shifts Saudi Arabia is navigating. These developments reflect the robust deal-making environment that Saudi Arabia is keen to tap into, with the IndexBox platform highlighting a steady growth in the demand for critical minerals fueling such investments globally.

Alkhorayef drew parallels between the mining sector and similar moves in the food industry, citing state-owned Saudi Agricultural and Livestock Investment Co. acquiring a stake in Brazil's BRF SA and pursuing a complete takeover of Olam Group Ltd.'s agribusiness unit. These ventures showcase Saudi Arabia's strategic deployment of capital to secure critical industries essential for its long-term economic sustainability.

Despite some pending negotiations in Pakistan over a significant copper and gold mining project with Barrick Gold, Alkhorayef remains optimistic. "There are very small things to be ironed out from a commercial point of view," he stated, highlighting his anticipation of a successful deal closure in the near future.

Source: IndexBox Market Intelligence Platform

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  3. 3. MARKET OVERVIEW

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    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2024
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  10. 10. PROFILES OF MAJOR PRODUCERS

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  12. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption, By Country, 2018–2024
    5. Production, In Physical Terms, By Country, 2012–2024
    6. Imports, In Physical Terms, By Country, 2012–2024
    7. Imports, In Value Terms, By Country, 2012–2024
    8. Import Prices, By Country Of Destination, 2012–2024
    9. Exports, In Physical Terms, By Country, 2012–2024
    10. Exports, In Value Terms, By Country, 2012–2024
    11. Export Prices, By Country Of Origin, 2012–2024
  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Consumption, By Country, 2024
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2024
    18. Production, In Value Terms, 2012–2024
    19. Production, By Country, 2024
    20. Production, In Physical Terms, By Country, 2012–2024
    21. Imports, In Physical Terms, 2012–2024
    22. Imports, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, By Country, 2024
    24. Imports, In Physical Terms, By Country, 2012–2024
    25. Imports, In Value Terms, By Country, 2012–2024
    26. Import Prices, By Country, 2012–2024
    27. Exports, In Physical Terms, 2012–2024
    28. Exports, In Value Terms, 2012–2024
    29. Exports, In Physical Terms, By Country, 2024
    30. Exports, In Physical Terms, By Country, 2012–2024
    31. Exports, In Value Terms, By Country, 2012–2024
    32. Export Prices, 2012–2024

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