The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
And what if our Chinese partner is wanting a guaranteed larger percentage of the project, say 20+% ? and definitely worth at least one billion US dollars.
With state backing ie, their China Mineral Resources Group, originally formed as a "National" purchasing entity, then we have this officially in black and white re who we are already working with......"WITH THE POTENTIAL TO PROVIDE FURTHER CAPITAL"
As usual...alwayshoping.
With respect Starbright, you may well be proved to be correct with your thoughts. However, when you read this from official sources, then at least it gives us all a little hope and something to look forward to next week.
As usual...alwayshoping.
""""Several partnerships between the private sector and PIF and its portfolio companies are expected to be concluded and announced during the forum."""
hxxps://www.decypha.com/en/news/details/PIF-s-Private-Sector-Forum-takes-place-next-February/21395361?TSID=&EDT=&L=EN
MM et al...Remember back in November the ""Game changing news coming soon"" headline from the Saudis .
Perhaps your thoughts that the Saudis are going for the 60mta will be that news.
As usual...alwayshoping.
From 25th Nov...... ".Hi Jiving....I am in ALMOST total agreement with your thoughts. However, I believe an "agreement" is already, and has been for sometime, in place with the Saudis/Manara Minerals and their chosen "partners", with the final agreed figure dependent upon the costings and savings figures to be released in due course. It is well documented that the info relating to the aim of Manara and Iron Ore in Africa. And then the recent announcement relating to "GAME CHANGING" news coming soon. What else could that really refer to other than Zanaga?"
Marcus....this report relating to the same event sounds even better....in particular, the final sentence.
"Several partnerships between the private sector and PIF and its portfolio companies are expected to be concluded and announced during the forum."
hxxps://www.decypha.com/en/news/details/PIF-s-Private-Sector-Forum-takes-place-next-February/21395361?TSID=&EDT=&L=EN
Https://www.mining.com/brazil-negotiates-mining-investments-with-saudi-arabia-minister/
And the Saudis cosying up with Vale again.........
https://www.mining.com/brazil-negotiates-mining-investments-with-saudi-arabia-minister/
Can somebody PLEASE advise us where is all this bloody ore going to come from.
Turkiye’s Tosyali Holding to invest $5bn in Saudi steel plant
Tosyali Holding wants to raise its revenue to more than $7 billion this year. Shutterstock
Updated 18 January 2024
ARAB NEWS
January 18, 2024
RIYADH: A $5 billion steel plant is set for Saudi Arabia thanks to a new agreement signed by Turkish company Tosyali Holding, its chairman has revealed.
Speaking in an interview with Bloomberg on the sidelines of the World Economic Forum in Davos, Switzerland, Fuat Tosyali disclosed that the newly signed memorandum of understanding comes as part of an expansion spree that includes Algeria, Angola, Senegal, and Spain.
This move falls in line with the firm’s goal of raising its revenue to more than $7 billion this year from $5 billion in 2023.
“Our aim is to make the best quality steel from the best technology in a sustainable, efficient and carbon-neutral way,” Tosyali said.
The chairman highlighted that the company seeks to boost its solar output to 2,500 megawatts, up from 240 MW, through a $1.5 billion investment.
In addition, the firm also has plans to buy a stake in a major hydrogen energy company in an attempt to adapt that technology to steel plants, Tosyali added.
The chairman set out plans to propel the company’s steel production capacity to 14 million tons a year as investments in Algeria and Turkiye reach fruition.
The comments come two weeks after the firm announced it bought Spain’s Baika Steel Tubular Systems SL for an undisclosed price.
Additionally, Tosyali’s green plan follows days after Erdemir Group, which owns Turkiye’s two top steelmakers, announced a $3.2 billion plan to invest in greener production and curb carbon emissions.
As usual....alwayshoping
Can somebody PLEASE advise us where is all this bloody ore going to come from.
Turkiye’s Tosyali Holding to invest $5bn in Saudi steel plant
Tosyali Holding wants to raise its revenue to more than $7 billion this year. Shutterstock
Updated 18 January 2024
ARAB NEWS
January 18, 2024
RIYADH: A $5 billion steel plant is set for Saudi Arabia thanks to a new agreement signed by Turkish company Tosyali Holding, its chairman has revealed.
Speaking in an interview with Bloomberg on the sidelines of the World Economic Forum in Davos, Switzerland, Fuat Tosyali disclosed that the newly signed memorandum of understanding comes as part of an expansion spree that includes Algeria, Angola, Senegal, and Spain.
This move falls in line with the firm’s goal of raising its revenue to more than $7 billion this year from $5 billion in 2023.
“Our aim is to make the best quality steel from the best technology in a sustainable, efficient and carbon-neutral way,” Tosyali said.
The chairman highlighted that the company seeks to boost its solar output to 2,500 megawatts, up from 240 MW, through a $1.5 billion investment.
In addition, the firm also has plans to buy a stake in a major hydrogen energy company in an attempt to adapt that technology to steel plants, Tosyali added.
The chairman set out plans to propel the company’s steel production capacity to 14 million tons a year as investments in Algeria and Turkiye reach fruition.
The comments come two weeks after the firm announced it bought Spain’s Baika Steel Tubular Systems SL for an undisclosed price.
Additionally, Tosyali’s green plan follows days after Erdemir Group, which owns Turkiye’s two top steelmakers, announced a $3.2 billion plan to invest in greener production and curb carbon emissions.
As usual....alwayshoping
A little more meat on the bones re next months meeting. I must admit the final sentence sounds really interesting/teasing....."CONCLUDED AND ANNOUNCED" !!!!!!!!!!!!!!!
as usual...alwayshoping.
PIF’s Private Sector Forum takes place next February
Riyadh - Sharikat Mubasher: Saudi Arabia’s Public Investment Fund (PIF) is set to host the second edition of the Private Sector Forum on 6 February in Riyadh, with the participation of 50 PIF portfolio companies.
The two-day forum aims to support the fund’s Private Sector Engagement Strategic Initiative.
It will showcase the business opportunities of the PIF and its portfolio companies, highlight potential opportunities for investors and suppliers, and broaden the means of cooperation.
The forum aims to promote and strengthen localization and support the development of stable supply chains in major sectors.
The PIF Private Sector Forum will feature panel discussions by leaders across key government entities, PIF, and its portfolio companies, highlighting the importance of the private sector for the Kingdom’s development.
Furthermore, it will include workshops on specific localization investments and supply chain opportunities, providing visibility on the expected demand for key products and services.
Several partnerships between the private sector and PIF and its portfolio companies are expected to be concluded and announced during the forum.
https://www.decypha.com/en/news/details/PIF-s-Private-Sector-Forum-takes-place-next-February/21395361?TSID=&EDT=&L=EN
AlKhorayef busy at Davos today. He certainly keeps himself busy.
https://www.leaders-mena.com/alkhorayef-declares-saudi-is-open-for-business-at-wef24-in-davos/
MM. You mentioned Nippon Steel earlier today. Have you seen this article that I have just come across?
https://www.leaders-mena.com/japan-looks-forward-to-partnering-with-ksa-in-mining-sector/
Hi MM. Yahoo report is a tiny bit more expansive.
RIYADH, Saudi Arabia, Jan. 11, 2024 /PRNewswire/ -- The first day of the third edition of Future Minerals Forum (FMF) saw the signing of 20 agreements and memorandums of understanding worth a total of SAR27 billion riyals between government agencies, companies and other organizations participating in the Forum.
During the FMF Signing Ceremony
During the FMF Signing Ceremony
These included agreements connected with mining exploration, technology and communications, as well as the application of sustainability standards, localization, qualification and industrialization in the minerals sector. Also unveiled at the Forum were details of the 33 sites available for exploration this year, and the first mining belt to be made available for exploration in the region at Jabal Sayid, an area of 4,000 square kilometers.
The signing ceremony was attended by His Excellency the Minister of Industry and Mineral Resources, Bandar AlKhorayef, His Excellency the Minister of Investment, Khalid Al-Falih, His Excellency the Minister of Transport and Logistics Services, Saleh Al-Jasser, His Excellency, His Excellency the Vice-Minister of Industry and Mineral Resources for Mining Affairs Khalid Al-Mudaifer, and Eng. Sulaiman Al-Mazrou, CEO of the National Industrial Development and Logistics Services Program.
Among the government agencies and private sector participating in signing these agreements and memorandums of understanding were Saudi Arabia's Ministry of Industry and Mineral Resources, the Ministry of Investment, the Royal Commission for Jubail and Yanbu, the Saudi Geological Survey, the Saudi EXIM Bank, and the Saudi Mining Polytechnic (SMP). Among those signing the agreements were the Saudi Mining Services Company, Moxico Ajlan & Bros Mining, Saudi Aramco, Al-Haytham Mining Company, Manara Minerals, Vale, the Geological Survey of Finland, Maaden, Japan Organization for Metals and Energy Security, SABIC, the Export-Import Bank of the United States, Energy & Water Academy, and the Al Fada Anode Production Company.
Still no signs or clues anywhere as to what this money or the bulk of it was spent on. All very quiet and mysterious. It couldnt be for us.....could it ?? As usual alwayshoping.
From Zaway.com last week......MM..I am still waiting for more info on these $7.2 Billion deals signed last week. That is one hell of a lump of cash, and unusually for the Saudis/PIF all under the rada at the moment. Maybe a huge chunk of that involves Zanaga and Vale. It certainly makes sense, as does all those dots that you have joined up.
As usual...alwayshoping.
I wonder, will this be when the long awaited news will be released ? AT did say he would be back in Saudi next month.
"Major partnerships between the private sector and PIF, along with its portfolio companies, will be announced, showcasing tangible progress in collaborative efforts for the Kingdom’s economic development."
PIF to host Private Sector Forum in February
The forum will feature discussions with leaders on the private sector’s importance in Saudi Arabia’s development, collaboration success stories, and opportunities in emerging regions.
ARAB NEWS
January 14, 2024
17:30
RIYADH: Saudi Arabia’s sovereign wealth fund is gearing up to host the second Private Sector Forum in February to strengthen the Kingdom’s local economy.
In an announcement on its website, the Public Investment Fund said the event, to be held on Feb. 6 and 7 at King Abdul Aziz International Conference Center, aims to support the fund’s private sector engagement.
The forum seeks to bolster business localization and promote stable supply chains within key sectors of the Saudi economy.
Key objectives include showcasing partnership opportunities, facilitating networking, enabling supplier registration, and providing information access about PIF programs.
The forum will feature discussions with leaders on the private sector’s importance in Saudi Arabia’s development, collaboration success stories, and opportunities in emerging regions.
Additionally, business opportunity workshops conducted by experts will provide information on specific localization investments and supply chain opportunities.
Representatives from over 50 PIF portfolio companies will participate in an exhibition to showcase opportunities and new projects, fostering networking and direct engagement.
The forum will also unveil key PIF programs, reinforcing the wealth fund’s commitment to growing collaboration.
Major partnerships between the private sector and PIF, along with its portfolio companies, will be announced, showcasing tangible progress in collaborative efforts for the Kingdom’s economic development.
In October 2022, the PIF launched a Local Content Growth Program to promote competition and innovation in the private sector.
PIF said that this program is in line with the fund’s strategic objective of building partnerships with the private sector to boost Saudi Arabia’s gross domestic product and to create 1.8 million jobs by 2025.
https://www.arabnews.com/node/2441461/business-economy
As usual...always hoping.
I wonder, will this be when the long awaited news will be released ? AT did say he would be back in Saudi next month.
"Major partnerships between the private sector and PIF, along with its portfolio companies, will be announced, showcasing tangible progress in collaborative efforts for the Kingdom’s economic development."
PIF to host Private Sector Forum in February
The forum will feature discussions with leaders on the private sector’s importance in Saudi Arabia’s development, collaboration success stories, and opportunities in emerging regions.
ARAB NEWS
January 14, 2024
17:30
RIYADH: Saudi Arabia’s sovereign wealth fund is gearing up to host the second Private Sector Forum in February to strengthen the Kingdom’s local economy.
In an announcement on its website, the Public Investment Fund said the event, to be held on Feb. 6 and 7 at King Abdul Aziz International Conference Center, aims to support the fund’s private sector engagement.
The forum seeks to bolster business localization and promote stable supply chains within key sectors of the Saudi economy.
Key objectives include showcasing partnership opportunities, facilitating networking, enabling supplier registration, and providing information access about PIF programs.
The forum will feature discussions with leaders on the private sector’s importance in Saudi Arabia’s development, collaboration success stories, and opportunities in emerging regions.
Additionally, business opportunity workshops conducted by experts will provide information on specific localization investments and supply chain opportunities.
Representatives from over 50 PIF portfolio companies will participate in an exhibition to showcase opportunities and new projects, fostering networking and direct engagement.
The forum will also unveil key PIF programs, reinforcing the wealth fund’s commitment to growing collaboration.
Major partnerships between the private sector and PIF, along with its portfolio companies, will be announced, showcasing tangible progress in collaborative efforts for the Kingdom’s economic development.
In October 2022, the PIF launched a Local Content Growth Program to promote competition and innovation in the private sector.
PIF said that this program is in line with the fund’s strategic objective of building partnerships with the private sector to boost Saudi Arabia’s gross domestic product and to create 1.8 million jobs by 2025.
https://www.arabnews.com/node/2441461/business-economy
As usual...always hoping.
MM..I am still waiting for more info on these $7.2 Billion deals signed last week. That is one hell of a lump of cash, and unusually for the Saudis/PIF all under the rada at the moment. Maybe a huge chunk of that involves Zanaga and Vale. It certainly makes sense, as does all those dots that you have joined up.
As usual...alwayshoping.
Saudi Arabia signs MoU with Brazil’s Vale for iron ore project
The MoU was signed on the sidelines of the two-day Future Minerals Forum during which the Brazilian company also showcased its ambitious plans in the Middle East.
https://arab.news/bgjaa
Updated 11 January 2024
ARAB NEWS
January 11, 2024
RIYADH: The Royal Commission for Jubail and Yanbu on Thursday signed a memorandum of understanding with Brazilian mining company Vale for the development of an iron ore briquettes project in the Kingdom.
The MoU was signed on the sidelines of the two-day Future Minerals Forum during which the Brazilian company also showcased its ambitious plans in the Middle East.
The deal marked an integral milestone in Vale’s journey in the region, spotlighting the upcoming state-of-the-art project in the Kingdom as a crucial part of its strategy to decarbonize the steelmaking industry.
Speaking in a panel discussion titled “Making Africa, Western and Central Asia processing and manufacturing hubs,” Vale CEO Eduardo Bartolomeo highlighted the technological innovations and advancements planned within the Mega Hub in Ras Al-Khair Industrial City.
Vale said that its participation at the forum underscored the company’s pivotal role in the region’s sustainable mining sector, adding that it demonstrated a strong alignment with the Kingdom’s Vision 2030 in an emphasis to its project in Ras Al-Khair and commitment to net-zero emissions.
As usual...alwayshoping.
Saudi Arabia signs MoU with Brazil’s Vale for iron ore project
The MoU was signed on the sidelines of the two-day Future Minerals Forum during which the Brazilian company also showcased its ambitious plans in the Middle East.
The MoU was signed on the sidelines of the two-day Future Minerals Forum during which the Brazilian company also showcased its plans in the Middle East.
https://arab.news/bgjaa
Updated 11 January 2024
ARAB NEWS
January 11, 2024
RIYADH: The Royal Commission for Jubail and Yanbu on Thursday signed a memorandum of understanding with Brazilian mining company Vale for the development of an iron ore briquettes project in the Kingdom.
The MoU was signed on the sidelines of the two-day Future Minerals Forum during which the Brazilian company also showcased its ambitious plans in the Middle East.
The deal marked an integral milestone in Vale’s journey in the region, spotlighting the upcoming state-of-the-art project in the Kingdom as a crucial part of its strategy to decarbonize the steelmaking industry.
Speaking in a panel discussion titled “Making Africa, Western and Central Asia processing and manufacturing hubs,” Vale CEO Eduardo Bartolomeo highlighted the technological innovations and advancements planned within the Mega Hub in Ras Al-Khair Industrial City.
Vale said that its participation at the forum underscored the company’s pivotal role in the region’s sustainable mining sector, adding that it demonstrated a strong alignment with the Kingdom’s Vision 2030 in an emphasis to its project in Ras Al-Khair and commitment to net-zero emissions.
As usual...alwayshoping.
zawya.com reporting today on bob wilts comments, also added this in their update..
wilt, who is also the ceo of ma'aden, said that the fund has a strict mandate to source iron ore, lithium, copper and nickel as part of saudi arabia's plan to become a metals processing hub.
manara is in talks to potentially buy a stake in ****stan's reko diq mine, wilt added, currently half owned by toronto-listed barrick gold, and half by the governments of ****stan and the province of balochistan. barrick considers the mine one of the world's largest underdeveloped copper-gold areas.
"manara is evaluating a host of opportunities, post closure of the vale deal, and reko diq is one of them," he said. (reporting by clara denina, additional reporting by divya rajagopal;
"
Just listened to AT again, but dont forget he is there in his position with Vision Blue, although you could believe he was wearing his Zioc hat. When asked what was his main takeaway from the forum...a few one liners......."the Saudi Arabia factor itself".....".in a position to be the perfect partner for 2024"..........."government and private support for providing the supply chain"....."a very refreshing feeling"........"have had a HUGE number of meetings since we have been here"......"lots of support from the Ministry" !!!!