DAHRAN, Saudi Arabia The world’s leading energy and chemicals company, and Ma’aden, the largest multicommodity mining
and metals company in the Middle East and North Africa, today jointly announc the signing of a
nonbinding Letter of Intent. According to the letter of intent, the two parties plan to establish a
mineral exploration and mining joint venture in country email list Saudi Arabia. The propos joint venture will focus on
the development of minerals requir for the energy transition, including the extraction of lithium from
highconcentration deposits, and will work to advance costeffective direct lithium extraction technology. The joint venture is expect to start commercial lithium production in 2027.
The joint venture will leverage Saudi Aramco’s technological innovations
An expertise in resource and data management to further expand Saudi Aramco’s business capabilities
into relat areas. This will help unlock the potential of Saudi Arabia’s highvalue mineral resources and
effectively respond to the growing demand for lithium and other transition minerals in domestic and
international markets. The joint venture will leverage the rich underground data and emerging
technologies to advance Saudi Arabia’s domestic economic diversification and energy development vision.
Saudi Arabia has huge potential to mine what does the d2c model look like the minerals ne for its energy transition. For example, Saudi
Aramco has discover a lithium ore section with up to 400ppm equivalent in its existing operations.
The joint venture will benefit from Saudi Aramco’s superior expertise and operations, including
leveraging existing infrastructure, industryleading drilling operations and more than 90 years of geological knowlge in the business.
Nasir al Naimi, president of Saudi Aramco Upstream, said :
This announcement underscores Saudi Aramco’s commitment to supporting the global energy
transition. The propos joint venture will enable calling list the development of minerals ne for the energy
transition, which is important for the development of more sustainable energy solutions and helps us
diversify our business for a lowcarbon future. We expect this partnership to leverage the world’s leading upstream companies with significant lowcost advantages, industry experience, technological innovation, extensive subsurface knowlge and an integrat supply chain ecosystem to meet Saudi and global lithium demand DAHRAN, Saudi Arabia.