Aramco plans transition minerals JV with Ma’aden | PR Newswire [Video]

• Collaboration harnesses Aramco’s extensive geoscience data, digital capabilities, and subsurface knowledge and Ma’aden’s decades of mining expertise
• Aramco identifies promising lithium concentrations exceeding 400 parts per million in its existing area of operations
• Possible collaborations could potentially commence commercial lithium production by 2027
• Companies sign Heads of Terms to explore new opportunities in transition minerals

, /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 …