Via Cagan Koc and Dinesh Nair in mining.com: Saudi Arabia is looking for mining deals in a push to secure supplies of critical minerals for its industrialization plan, just as a wave of attempted consolidation sweeps the sector. Joining the consolidation drive “could be a good way of entering the market or getting at least access to different assets in a more structured way,” Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef said in an interview at the World Economic Forum in Davos. He didn’t elaborate whether this would be buying stakes in assets or buying companies outright. Deals have been on Saudi Arabia’s radar for a while as it pushes through with an ambitious economic transformation plan. The overseas drive has had limited results so far with just one major completed deal and another in the works in Pakistan, but recent dealmaking efforts by major companies may give the Saudis an opportunity to deploy their cash.
