Brazil has intensified efforts to attract investment from Saudi Arabia into its mining sector, signing a five-year bilateral cooperation agreement and advancing strategic dialogue on geological exploration and critical minerals during high-level meetings in Riyadh.

At the Future Minerals Forum, Brazilian Mines and Energy Minister Alexandre Silveira and Saudi Industry and Mineral Resources Minister Bandar Al-Khorayef formalised a Memorandum of Understanding designed to expand technical cooperation, stimulate private investment and accelerate joint development of mineral resources, particularly those critical to energy transition and global supply chains.

The agreement provides for the exchange of specialists, capacity building programmes and technology transfer to support exploration, mining and resource evaluation.

The accord establishes the basis for a potential Brazil-Saudi Mining Investment Alliance to explore and process strategic minerals and improve value addition, signalling both countries’ intention to leverage their complementary strengths in geology, capital markets and industrial infrastructure.

Brazilian officials highlighted the country’s world-class mineral reserves — including iron ore, copper, nickel, lithium, niobium and rare earths — and pointed to regulatory and governance reforms aimed at streamlining licensing and enhancing legal certainty for investors.

Silveira emphasised Brazil’s stable political, economic and regulatory environment and invited Saudi investors to assess opportunities in key states such as Minas Gerais and Pará, while Saudi authorities underscored their interest in building partnerships that align with Saudi Arabia’s Vision 2030 diversification strategy.

Discussions also touched on expanding cooperation in geoscience research, sustainable mining practices and infrastructure development, with both sides expressing optimism about the scope for mutual benefit as global demand for critical minerals grows.