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In a similar arrangement in July, Saudi Arabian Mining Co (Ma’aden) and the Saudi Public Investment Fund (PIF) acquired 10% of Brazilian Vale’s base metal unit, while U.S. investment firm Engine No. 1 acquired 3%.
Source: https://www.shorenewsnetwork.com/2023/09/10/us-saudi-arabia-in/
In terms of global strategy, Ma’aden signed a mining agreement with two Indian companiesSaudi and Jordanian companies also signed deals related to mining in June.