Aramco, Ma’aden to form minerals exploration and mining JV

user icon
NOHA.GAD
calender icon
Jan 15, 2025
article image

Riyadh - Sharikat Mubasher: Aramco, one of the world’s leading integrated energy and chemicals companies, and the Saudi state-owned mining company Ma’aden signed a non-binding Heads of Terms, which envisages the formation of a minerals exploration and mining joint venture (JV) in Saudi Arabia.

The proposed JV will focus on energy transition minerals, including extracting lithium from high-concentration deposits and advancing cost-effective direct lithium extraction (DLE) technologies, Aramco revealed in a statement today.

The planned JV was announced during the fourth edition of the Future Mineral Forum which takes place in Riyadh from 14 to 16 January under the theme ‘The Year of Impact’.

The JV is expected to extend Aramco’s capabilities into an adjacent sector, leveraging its technological innovation and skills in resource and data management. It aims to unlock the potential of the Kingdom’s high-value mineral resources, to help meet the growing demand for lithium and other transition minerals domestically and globally.

Nasir Al-Naimi, Aramco Upstream President, said: “This announcement reflects Aramco's focus on positively contributing to the global energy transition. The proposed JV will enable the extraction of energy transition minerals, contributing meaningfully to the growth of more sustainable energy solutions while diversifying our portfolio for a lower-carbon future.”

He explained that the partnership will leverage the world’s leading upstream enterprise to apply significant low-cost advantages, industry experience, technological innovation, accumulated subsurface knowledge, and an integrated supply chain ecosystem.

For his part, Darryl Clark, Senior Vice President of Exploration at Ma’aden, stated that the proposed JV will enable the company to accelerate exploration of the Arabian Platform, combining Aramco’s vast knowledge of the area with Ma’aden’s extensive mining and exploration expertise.

Moreover, the JV is expected to benefit from Aramco’s significant expertise and operations, including the use of existing infrastructure, industry-leading drilling operations, and more than 90 years of geological data in its area of operations. 


Share

Related News

Alkhabeer, Fasanara partner to advance fintech credit solutions in Kingdom
News
Calendar Icon
July 17, 2025
Alkhabeer, Fasanara partner to advance fintech credit solutions in Kingdom
Read More
Schneider Electric launches Lauritz Knudsen brand in Saudi Arabia
News
Calendar Icon
July 17, 2025
Schneider Electric launches Lauritz Knudsen brand in Saudi Arabia
Read More
Elon Musk’s xAI in talks for data center deal in Saudi Arabia
News
Calendar Icon
July 17, 2025
Elon Musk’s xAI in talks for data center deal in Saudi Arabia
Read More
E-commerce market increases demand for Grade A warehousing in Kingdom
News
Calendar Icon
July 16, 2025
E-commerce market increases demand for Grade A warehousing in Kingdom
Read More
Shareek, SDAIA sign MoU to advance Saudi AI and data innovation
News
Calendar Icon
July 16, 2025
Shareek, SDAIA sign MoU to advance Saudi AI and data innovation
Read More
Nesma & Partners completes acquisition of Al Yusr Industrial Contracting
News
Calendar Icon
July 16, 2025
Nesma & Partners completes acquisition of Al Yusr Industrial Contracting
Read More
Tuwaiq Academy, Google Cloud launch ‘3,000 Developers Initiative’
News
Calendar Icon
July 16, 2025
Tuwaiq Academy, Google Cloud launch ‘3,000 Developers Initiative’
Read More
EEP to launch, operate schools in Riyadh starting 2026
News
Calendar Icon
July 15, 2025
EEP to launch, operate schools in Riyadh starting 2026
Read More
Mastercard renews partnership with 2025 Esports World Cup in Riyadh
News
Calendar Icon
July 15, 2025
Mastercard renews partnership with 2025 Esports World Cup in Riyadh
Read More
Uber unveils new product to empower women in Saudi Arabia
News
Calendar Icon
July 15, 2025
Uber unveils new product to empower women in Saudi Arabia
Read More