Analysis Trade Trump’s bravado fails to spook minerals market – so far Ordinarily, commodity markets tend to react strongly when leaders of major global economies announce plans for war and conquest. If those plans involve disrupting one of the world’s most important sea lanes and reversing centuries of peace with two major allies, you might even expect a certain panic. Yet, when US President-elect Donald Trump declined […] January 21, 2025
Mining Ma’aden signs $1bn contracts to develop industrial cities Saudi mineral giant Ma’aden has signed three contracts worth a combined $922 million with foreign companies to develop a third phosphate fertiliser project. The majority state-owned Saudi mining company announced the agreements in a note to the Saudi bourse on Thursday, coinciding with the final day of the Future Minerals Forum in Riyadh. Ma’aden is […] January 16, 2025
Mining Saudi development fund might invest $100m in Pakistan mining Saudi Arabia might invest more than $100 million in Pakistan’s mining infrastructure through its development fund to scale up operations to meet demand. Minister of industry and mineral resources Bandar Alkhorayef also confirmed that mining company Manara Minerals, a joint venture between Saudi sovereign wealth fund the Public Investment Fund and miner Ma’aden, is interested in investing […] January 16, 2025
Analysis Mining Lithium find exposes Algeria’s neglected mining sector The discovery of lithium in Algeria is a major economic opportunity – but underinvestment in the country’s mining industry means it could take a decade or more to bear fruit, experts say. In May 2024, Algeria discovered significant deposits of lithium and other essential climate technology minerals in the southern regions of Tamanrasset and In […] January 16, 2025
Mining Aramco-Ma’aden JV to mine lithium in Saudi Arabia Saudi Aramco and Ma’aden, two listed companies on the Saudi bourse, will launch a joint venture for minerals exploration and mining in the kingdom. The proposed venture will focus on energy transition minerals, which includes lithium extraction from high-concentration deposits and use of cost-effective direct lithium extraction technologies. “This proposed JV would enable us to accelerate […] January 16, 2025
Mining Ma’aden announces new gold discoveries in Saudi Arabia Saudi Arabia’s state-owned mining company Ma’aden has announced the discovery of “multiple intercepts of recoverable gold and copper grades” in exploratory sites at Wadi al Jaww and Jabl Shayban, in a note published on the Saudi stock market (Tadawul) on Wednesday. In a separate note, it also revealed “strong gold mineralisation” beneath its flagship open […] January 15, 2025
Mining Saudi Arabia grants exploratory rights to six mining sites The Saudi Ministry of Industry and Mineral Resources has allocated mineral exploration rights for six mining sites with a combined size of 890 sq km, according to the Saudi Press Agency. On Tuesday, the ministry announced that mining company Amak has been granted three exploratory concessions in Jabal al Khallah North (98 sq km) and […] January 14, 2025
Mining Brazil and UAE sign minerals exploration deal The UAE and Brazil have signed an agreement potentially worth billions of dollars to invest in the search for minerals that are essential to the green energy transition. The memorandum of understanding aims to promote exploration for and development of “strategic” minerals, in a partnership that could reach R$15 billion ($2.45 billion) in investments, Brazil’s […] January 14, 2025
Opinion Mining Riyadh seeks to become ‘rule shaper, not rule taker’ in mining Saudi Arabia's ambitions for a super-region will be on display at this week's Future Minerals Forum January 13, 2025
Energy Sale of enriched uranium announced by Saudi Arabia Saudi Arabia intends to export enriched uranium, the country’s energy minister, Prince Abdulaziz bin Salman, said on Monday. The announcement is the latest indication of Saudi nuclear ambitions. Saudi Arabia has long expressed an interest in developing a nuclear power sector and has engaged in talks with the United States over nuclear cooperation, which were […] January 13, 2025
Manufacturing Alba and Ma’aden end merger discussions Aluminium Bahrain (Alba) and the Saudi Arabian Mining Company (Ma’aden) have ended talks over a merger of the two Gulf manufacturing giants. Discussions had been taking place since last year and it had been hoped that a deal could be completed in the first quarter of 2025, according to Alba’s chief executive, Ali Al Baqali. […] January 13, 2025
Mining Saudi Arabia chases 15% stake in Pakistan’s Reko Diq mine Saudi Arabia is in talks with Pakistan to acquire a 15 percent stake in one of the world’s largest undeveloped copper and gold resources, a Pakistani government minister has said. Negotiations between the two countries started last year over a minority stake in the Reko Diq copper and gold mine project in Pakistan’s southwestern Balochistan […] January 3, 2025
Mining Oman resumes copper exports as global demand rises Minerals Development Oman (MDO) has resumed exporting copper from the Lasail mine in Sohar with its first shipment in nearly 30 years. The mine, developed by Oman Mining Company, a subsidiary of MDO, produces an average of 500,000 tonnes of copper ore per year. MDO said it also plans to initiate operations at the Al […] January 2, 2025
Mining Saudi Arabia extends bids deadline for largest mineral belts Saudi Arabia has extended the deadline for submitting exploration licence proposals for its first mineralised belts. The extension was granted following a request from qualified bidders, seeking more time to complete the procedures, the Ministry of Industry and Mineral Resources said. In November the ministry announced 14 pre-qualified bidders for the five mineralised sites. The […] December 25, 2024
Analysis Mining Critical minerals become a Middle East battleground Saudi Arabia’s efforts to boost domestic processing of so-called critical minerals could redraw the mining industry’s regional and global supply chains, industry observers say. Critical minerals are defined as materials required for a country’s strategic industries where there is a risk of interruption to supply. They include lithium, for making batteries, platinum, used in fuel […] December 4, 2024
Mining Oman takes 41% stake in Angolan diamond miner Oman’s Maaden International Investment has acquired a 41 percent share in Angolan diamond miner Catoca from Russia’s Alrosa. Diamantino Azevedo, Angola’s minister of mineral resources, oil and gas, announced the decision, saying the deal is in order to comply with sanctions imposed by the US, the European Union and allies, following Russia’s invasion of Ukraine […] December 2, 2024
Mining Saudi Arabia secures $9bn to unlock mining potential Saudi Arabia has announced investment agreements with global mining companies worth SAR35 billion ($9.32 billion), as the country seeks to capitalise on its estimated $1.3 trillion worth of untapped mineral resources. India-based Vedanta will build SAR7.5 billion copper facilities at Ras Al Khair Industrial City, including a greenfield smelter and refinery with a capacity of […] November 27, 2024
Economy Ras Al Khaimah’s economy to expand until 2027 Ras Al Khaimah’s (RAK) economy is projected to expand by an average 4.2 percent annually until 2027, driven by strong tourism, real estate, manufacturing, and mining performances, S&P Global said. “We forecast GDP per capita levels to strengthen to about $32,800 by 2027, compared with an estimated $30,000 in 2024,” the rating agency said. This […] November 25, 2024
Mining Saudi Arabia’s Ma’aden seeks $1bn private sector investment Saudi Arabian Mining Company (Ma’aden) is offering upwards of 52 investment opportunities worth SAR4 billion ($1 billion) to boost private sector participation, a senior executive has said. Investments worth SAR1.3 billion are already in the implementation phase, Abdullah Al Osaimi, senior vice president, procurement and business support, told CNBC Arabia. Ma’aden, Saudi Arabia’s largest miner, […] November 22, 2024
Mining Alba to decide on Ma’aden merger early next year Aluminium Bahrain (Alba) expects to decide whether to merge with subsidiaries of Saudi Arabia’s Ma’aden by the first quarter of 2025, its chief executive said on Wednesday. Alba, Bahrain’s largest listed company with a market valuation of almost BHD2 billion ($5.3 billion), on September 16 announced it had entered a non-binding agreement with Ma’aden. Under […] November 13, 2024
Mining Minerals come into focus as Egypt wrestles with oil reforms Egypt’s proposed platform to encourage investment into their minerals sector is likely to launch early next year, the minister of petroleum and mineral resources said this week. The so-called Mining Portal, which was originally scheduled to be operational by the end of 2024, is part of a drive to exploit what the government says is […] November 8, 2024
Industry Bahrain’s Alba looking to Europe after Ma’aden deal Aluminium Bahrain (Alba) will keep exploring mergers and acquisitions, with a particular eye on Europe, once it completes its multi-billion dollar deal with Saudi Arabian Mining Company (Ma’aden). The deal is expected to be signed off in the first half of next year. The two companies penned a non-binding agreement in September and are in […] November 5, 2024
