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Al-Khorayef Discusses Expansion Plans of Brazilian Mining Giant Vale in Saudi Arabia

Al-Khorayef touring giant Carajas mines in the Amazon forests (Asharq Al-Awsat)
Al-Khorayef touring giant Carajas mines in the Amazon forests (Asharq Al-Awsat)
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Al-Khorayef Discusses Expansion Plans of Brazilian Mining Giant Vale in Saudi Arabia

Al-Khorayef touring giant Carajas mines in the Amazon forests (Asharq Al-Awsat)
Al-Khorayef touring giant Carajas mines in the Amazon forests (Asharq Al-Awsat)

Saudi Arabia and Brazil are seeking to expand partnerships in the mining sector, as the two countries enjoy important economic and investment relations. The Kingdom supplies Brazil with 16 percent of its market need for phosphate fertilizers through Maaden Company.
During a visit to Brazil, Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef discussed with officials of the Brazilian mining giant Vale, the company’s expansion plans in the Kingdom and opportunities for cooperation in developing the Carajas mines in the Amazon forests, which produce over 300 million tons of iron ore annually.
On Sunday, the minister visited Vale’s Carajas mines, where he was briefed on advanced technologies used in mineral extraction and processing, including remote mine management and driverless trucks.
Accompanied by Deputy Minister of Industry and Mineral Resources Khalid Al-Mudaifer and other industry leaders, Al-Khorayef discussed with Vale officials prospects for transferring knowledge and expertise, particularly in mining within rainforests and nature reserves, and forming effective partnerships with local communities.
This visit comes as part of the minister’s tour to Brazil and Chile, which aims to strengthen bilateral relations and attract investments to the Kingdom in the industrial and mining sectors.
Brazil is the second largest iron ore producing country in the world, and has a long history in the mining sector, with the number of mines exceeding 3,000.
Vale works to develop a factory and logistics center for processing and producing iron pellets in the Ras Al-Khair Industrial City in the east of the Kingdom, with an investment exceeding SAR 4 billion ($1.06 billion), and a production capacity of up to 4 million tons annually of iron pellets, which is the main material for steel production.
Al-Khorayef had recently met with the CEO of Vale Mining Company, Eduardo Bartolomeo, in Brazil, to discuss the promising investment opportunities provided by the Saudi mining sector and the expansion plans in the Kingdom.

 

 

 

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World Trade Chief Says Global Free Trade is in a 'Crisis'

World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala (L) meets with Japan's Prime Minister Shigeru Ishiba at the latter's office in Tokyo on May 13, 2025. (Photo by Kazuhiro NOGI / POOL / AFP)
World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala (L) meets with Japan's Prime Minister Shigeru Ishiba at the latter's office in Tokyo on May 13, 2025. (Photo by Kazuhiro NOGI / POOL / AFP)
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World Trade Chief Says Global Free Trade is in a 'Crisis'

World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala (L) meets with Japan's Prime Minister Shigeru Ishiba at the latter's office in Tokyo on May 13, 2025. (Photo by Kazuhiro NOGI / POOL / AFP)
World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala (L) meets with Japan's Prime Minister Shigeru Ishiba at the latter's office in Tokyo on May 13, 2025. (Photo by Kazuhiro NOGI / POOL / AFP)

Global free trade is in crisis, the head of the World Trade Organization chief said Tuesday while meeting Japanese Prime Minister Shigaru Ishiba on Tuesday.

Ngozi Okonjo-Iweala, director-general of the World Trade Organization, told Ishiba that she has high expectations for Japan as a champion of open markets as US President Donald Trump disrupts world commerce with his fast-changing tariffs and other policies.

“Trade is facing very challenging times right now and it is quite difficult,” she said, according to The Associated Press. “We should try to use this crisis as an opportunity to solve the challenges we have and take advantage of new trends in trade.”

Japan, as “a champion of the multilateral trading system” must help maintain, strengthen and reform the WTO, the Japanese Foreign Ministry cited her as saying.
They met a day after the United States and China said they had agreed to slash recent sky- high tariffs for 90 days to allow time for negotiations.

Japan is among many countries yet to reach a deal with the Trump administration on hikes to US tariffs, including those on autos, steel and aluminum.

The WTO played a pivotal role in past decades as the US and other major economies championed the trade liberalization that facilitated the growth of global supply chains, many of which are anchored in China.

By dismantling many protectionist barriers to trade, it has aided the ascent of Japan and China, and many other countries, as export manufacturing hubs.

Since taking office for a second time, Trump has prioritized higher tariffs to try to reduce US imports and compel companies to locate factories in the United States, doubling down on a trade war that he launched during his first term.

The two leaders agreed that WTO member countries should unite to restore the organization's capacity to address challenges.

Okonjo-Iwaela was visiting Japan to strengthen cooperation between Japan and the WTO to maintain and reinforce the multilateral trading system, Japanese officials said.