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Saudi Aramco and Maaden Plan Mineral Exploration Joint Venture In Saudi Arabia

Ma'aden logoMa'aden
Sig2.70Sen+3.20Env-1.00Soc0.00Gov0.00
Saudi Aramco logoSaudi Aramco
Sig3.10Sen+3.20Env-1.60Soc+0.90Gov+0.50

Saudi Aramco and Maaden plan a joint venture for mineral exploration and hard-rock mining in Saudi Arabia. Maaden is expected to hold 51% and Aramco 49%. The move follows January 2025 non-binding talks on a transition-minerals effort targeting lithium from underground brines. Saudi authorities cite $2.5 trillion in potential mineral resources and back exploration with a SAR685m ($182m) incentive program and state funding.

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