Saudi mining giant Maaden partners with Aramco in new mineral exploration venture
Saudi Arabia’s state-owned miner Maaden has formed a joint venture with oil producer Aramco to map and develop mineral resources across roughly one-tenth of the kingdom.
The collaboration will blend Aramco’s geospatial capabilities with Maaden’s mining know-how to survey areas rich in copper, zinc and other transition-critical minerals. Ownership of the venture is set at 51% Maaden and 49% Aramco. Interest in Saudi mineral exploration has surged, with registered firms climbing from six in 2020 to over 225 by 2024. The kingdom estimates its mineral wealth at about $2.5 trillion, though commercial extraction will take time.
Why it matters
The deal could accelerate Saudi Arabia’s shift toward mining critical minerals needed for global clean-energy technologies.
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