Aramco plans transition minerals JV with Ma' aden

DHAHRAN, Saudi Arabia, Jan. 15, 2025 /PRNewswire/

Aramco, one of the world's leading integrated energy and chemicals companies, and Ma'aden, the largest multi-commodity mining and metals company in the Middle East and North Africa region, today announced the signing of non-binding Heads of Terms, which envisages the formation of a minerals exploration and mining joint venture (JV) in the Kingdom of Saudi Arabia. The proposed JV would focus on energy transition minerals, including extracting lithium from high concentration deposits and advancing cost-effective direct lithium extraction (DLE) technologies. Commercial lithium production could potentially commence by 2027.The proposed JV is expected to extend Aramco's capabilities into an adjacent sector, leveraging its technological innovation and skills in resource and data management.

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