Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Chile’s government said on Saturday that Saudi Arabia’s mining minister will travel to the Latin American country in July and plans to meet with his counterpart in Santiago.
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef told Reuters in March the kingdom was interested in sourcing lithium abroad, as it aims to enter the electric vehicle sector.
“He will indeed be in Chile (in July) and has asked for a meeting with the minister. But the date is not yet set,” the ministry said in an email to Reuters.
A government source had told Reuters about the visit on Thursday, saying the two officials would discuss potential investments in lithium.
Chile is the world’s second-largest producer of lithium, a key material for making the batteries that power electric vehicles.
(By Fabian Cambero; Editing by William Mallard)
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