Saudi Arabia commits to a rapid and aggressive expansion in the mining sector, announcing a substantial $100 billion investment. 2215

2025-04-17 22:51:25

Saudi Arabia last year increased the valuation of its unexploited mineral resources from $1.3 trillion to $2.5 trillion, boosted by the discovery of rare earth elements and metals.
The kingdom on Wednesday announced a new mineral investment project valued at $100 billion, with $20 billion already in the final engineering phase or under construction.
Investment in critical minerals mining and processing must be happening "as fast and furious as possible" in Saudi Arabia, its energy minister said at the Future Minerals Forum in Riyadh.

Saudi Energy Minister Abdulaziz bin Salman addresses attendees at the annual Future Investment Initiative (FII) conference held in Riyadh on October 29, 2024.

RIYADH, Saudi Arabia — At its annual Future Minerals Forum in the capital, Riyadh, Saudi Arabia is making significant strides to establish itself as a key player in the global critical minerals sector, unveiling various agreements, investment initiatives, and new discoveries.

On Wednesday, Khalid al-Mudaifer, the Saudi vice minister of mining affairs, revealed plans for a substantial mineral investment initiative worth $100 billion. He also mentioned that $20 billion of this investment is currently in the final engineering stage or already under construction.

Although the vice minister refrained from sharing additional specifics, Saudi authorities have been in talks about ambitious plans to greatly enhance the nation's exploration efforts for lithium, alongside other essential minerals and rare earth elements such as copper, gold, zinc, phosphate, and nickel.

In early 2024, the kingdom's ministry of industry and mineral resources increased its estimate of the value of its unexploited mineral resources from $1.3 trillion to $2.5 trillion, boosted by the discovery of the aforementioned elements and metals. At the Future Minerals Forum in Jan.

Recommend

7 Unconventional Yet Brilliant Methods People Are Earning Money on TikTok from Anywhere Globally

2025-04-17 22:51:25

"I've seen individuals attempt to return second-hand patio furniture": A man tries to return items at Costco, prompting an employee to step in.

2025-04-17 22:51:25

In December, Chinese imports surged as American consumers sought to dodge the tariffs suggested by Trump.

2025-04-17 22:51:25

A woman from Northeast Philadelphia had taken care of her husband's burial expenses long before his passing. However, wh 2220

2025-04-17 22:51:25

China boasts an $8.5 billion bridge that stretches an impressive 102 miles, capturing the fascination of conspiracy theorists everywhere.

2025-04-17 22:51:25

Mark Zuckerberg is set to co-host a reception alongside Republican billionaires for the inauguration of Trump. 2229

2025-04-17 22:51:25

Her Jobless Roommate Had A Meltdown Because She Didn't Pay Her Portion Of The Rent Again This Month.

2025-04-17 22:51:25

SEC takes legal action against Elon Musk regarding acquisition of 'undervalued' Twitter shares, according to reports. 2225

2025-04-17 22:51:25

Woman Goes Viral on TikTok After Alleging Marijuana Was Found in Her Burger King Meal

2025-04-17 22:51:25

How Can You Determine If You're Considered Wealthy? The Key Figure Is $2.5 Million, Yet It's More Complex Than That.

2025-04-17 22:51:25