The Persian Gulf monarchy has been trying for years to diversify its economy, heavily dependent on oil, and looking for new ways to generate energy, mainly all those related to gas and hydrogen.
For some months now, the Government has been deepening bilateral relations with Saudi Arabia.
The interests are mutual: Chile is the world's largest producer of copper and the second largest producer of lithium, while the Persian Gulf monarchy is one of the largest global oil producers.
Saudi Arabia has been trying for years to diversify its economy, heavily dependent on the so-called black gold, and looking for new ways to generate energy, mainly all those related to gas and hydrogen.
On March 21, in addition, Foreign Minister Alberto Van Klaveren had a meeting with the Saudi ambassador, Khalid Al Salloom, to whom he confirmed that the Chilean embassy in his country will reopen at the end of 2024, a headquarters that was closed in 1996.
In parallel, Aramco - the state oil company of Saudi Arabia - bought 100% of the shares of the Chilean Esmax Distribución (the firm behind Petrobras in our country) and entered the distribution market.
At the beginning of the month, this firm announced the discovery of seven natural gas and oil fields in the east and southeast of the Kingdom, with a total production capacity of more than 28 million cubic feet of gas per day and more than 11,000 barrels of crude oil. .
SAUDI ARABIA WANTS LITHIUM AND COPPER
In the last hours, the Minister of Mining, Aurora Williams; the executive president of Codelco, Rubén Alvarado; the national director of Sernageomin, Patricio Aguilera; and Enami executive, Javiera Estrada; They received the Minister of Industry and Natural Resources of Saudi Arabia, Bandar Bin Ibrahim AlKhorayef, who is visiting Chile with a delegation.
The latter formally invited our country - and also businessmen - to attend an important mining forum.
According to Diario Financiero , Bandar Bin Ibrahim AlKhorayef highlighted the good relations with Chile and the mutual opportunities for cooperation in various matters.
“The Kingdom sees that Chile has minerals that Saudi Arabia wants and does not have, such as lithium and copper,” he stated.
Likewise, he stressed that they are seeking to diversify their economy "and reduce dependence on oil."
For all things, the aforementioned media indicated, the Saudi authority did not rule out investments in our country.
“Lithium is necessary to manufacture electric cars and export them to other countries in the world. (…) The Kingdom considers it to be one of the most important minerals it needs. (…) Everything we can do seeking joint partnerships in projects or reciprocal investments is welcome,” said Bandar Bin Ibrahim AlKhorayef.
