Aramco and Ma’aden to explore lithium mining in Saudi Arabia

January 18, 2025 — Aramco, a global energy giant, and Ma’aden, the leading mining company in the Middle East and North Africa, have signed a non-binding agreement to form a joint venture for minerals exploration and mining in Saudi Arabia, Aramco says.

The focus will be on extracting lithium, a critical element for the energy transition, from high-concentration deposits within the Kingdom.

The proposed venture aims to leverage Aramco's expertise in resource management and technological innovation, while capitalizing on Ma'aden's extensive mining experience.

By combining their strengths, the companies seek to unlock the potential of Saudi Arabia's mineral wealth and contribute to the global demand for lithium.

Aramco has identified several areas within its operations with high lithium concentrations, potentially reaching up to 400 parts per million.

The joint venture will utilize Aramco's existing infrastructure, drilling capabilities, and vast geological data to facilitate efficient and cost-effective lithium extraction.

This partnership aligns with both companies' strategic objectives. Aramco aims to diversify its portfolio and contribute to a lower-carbon future, while Ma'aden continues its ambitious exploration program to unlock the estimated $2.5 trillion mineral endowment within the Arabian Shield.

The global demand for lithium has surged in recent years, driven by the rapid growth of the electric vehicle and renewable energy sectors.

This joint venture could play a crucial role in meeting the Kingdom's own growing demand for lithium, which is projected to increase significantly in the coming years.

The proposed joint venture is subject to regulatory approvals and other customary closing conditions.

Disclaimer: This article is based on the provided information and may not include all details or nuances of the agreement.

More News