XM does not provide services to residents of the United States of America.

Saudi mining minister to visit Chile in July, source says

<html xmlns="http://www.w3.org/1999/xhtml"><head><title>Saudi mining minister to visit Chile in July, source says</title></head><body>

SANTIAGO, June 14 (Reuters) -Saudi Arabia's mining minister plans to meet with his Chilean counterpart in Santiago at the end of July to discuss potential investments in lithium, a Chilean government source said on Friday.

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef told Reuters in a recent interview that the Middle Eastern country is interested in obtaining lithium overseas as it aims to enter the electric vehicle (EV) sector.

Chile is the world's second-biggest producer of lithium, a material key to making the batteries that power EVs. The global shift towards EVs has created a rush by carmakers and global powers for the ultralight metal.

Chilean newspaper Diario Financiero first reported plans for the Saudi visit to Chile, saying Alkhorayef was expected to meet with mining minister Aurora Williams. It also said Saudi Arabia was interested in meeting with Codelco and Enami, the state-run mining companies tasked with bringing the Chilean government into the lithium industry.

Both companies are seeking private sector partners to launch new lithium projects - Codelco in the Maricunga salt flat, and Enami in brine deposits known as Altoandinos.

The Mining Ministry and Codelco did not immediately respond to requests for comment. Enami said it has not received any meeting requests from Saudi officials or companies.

Chile's mining ministry in April said it had been approached by the Saudi embassy in Santiago about hosting a delegation this year to discuss potential investments in the sector.

Saudi ambassador in Chile Khalid Alsaloom in a social media post last week said he met with Williams to discuss topics of mutual interest.

Reporting by Daina Beth Solomon and Fabian Cambero; Editing by Sam Holmes


Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.