The Saudi Public Funding Fund (PIF) and the Saudi Arabian
Mining Firm (Ma’aden) introduced on Wednesday that they’d
collectively set up a brand new firm to spend money on world mining belongings,
Development experiences citing
Xinhua.

The corporate’s capital will quantity to 50 million U.S. {dollars} and
goals to initially spend money on iron ore, copper, nickel, and lithium
as a non-operating accomplice taking minority fairness positions.

The brand new firm will considerably contribute to strengthening
Saudi Arabia’s strategic place as an essential hyperlink within the
world provide chain consistent with PIF’s technique to develop key
industries additional, mentioned Deputy Governor and Head of MENA
Investments at PIF Yazeed Alhumied.