In Chile, Alkhorayaf is scheduled to meet with Aurora Williams, his counterpart, along with representatives from mining giants Antofagasta and Codelco. Codelco, a state-owned entity, is spearheading the Chilean government's entry into the lithium sector. The company has been in talks with private sector entities to initiate lithium ventures. One such entity is Saudi Arabia's Almar Water Solutions, whose CEO expressed interest in June to collaborate with Codelco on the Maricunga lithium mining project. Saudi Arabia, traditionally reliant on oil, is aiming to leverage lithium to diversify its economy and establish itself as a center for electric vehicle (EV) production. This diversification strategy also involves expanding into international mining to secure access to critical minerals like copper, cobalt, nickel, and lithium. The Saudi Arabian sovereign wealth fund, the Public Investment Fund (PIF), and the Kingdom's Mining Company, Ma'aden (67% owned by PIF), have jointly established Manara Minerals to invest in overseas mining assets. Brazil's energy minister, Alexandre Silveira, recently announced that the PIF intends to invest $15 billion in Brazil across sectors such as green hydrogen, infrastructure, and renewable energy.