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The Saudi Public Investment Fund (PIF) and the Saudi Arabian
Mining Company (Ma’aden) announced on Wednesday that they would
jointly establish a new company to invest in global mining assets,
Trend reports citing
Xinhua.
The company’s capital will amount to 50 million U.S. dollars and
aims to initially invest in iron ore, copper, nickel, and lithium
as a non-operating partner taking minority equity positions.
The new company will significantly contribute to strengthening
Saudi Arabia’s strategic position as an important link in the
global supply chain in line with PIF’s strategy to grow key
industries further, said Deputy Governor and Head of MENA
Investments at PIF Yazeed Alhumied.
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