Aramco And Maaden Target Copper In Major Saudi Mining JV

Dubai (PlantAndEquipment.com) - Aramco and Maaden have signed a shareholder’s agreement to form a new mineral exploration and hard-rock mining joint venture in Saudi Arabia, focusing on copper and other minerals required for the energy transition.

The planned business would be 51% controlled by Maaden and 49% by Aramco, and it will explore an area of around 182,000 square kilometers, or almost 10% of Saudi Arabia's entire geographical area.

Copper will be the major goal, along with zinc, lead, and rare earth elements. The partners want to integrate Maaden's mining and exploration skills with Aramco's massive geological data, artificial intelligence, and high-performance computers to find potential mineral resources more effectively.

If findings lead to mine development, the scope of the exploration program might generate major prospects for Saudi Arabia's mining and heavy equipment sectors, possibly boosting future demand for drilling rigs, excavators, loaders, haul trucks, and mineral processing equipment.

The joint venture is still subject to regulatory, corporate, and antitrust licenses, and it is part of Saudi Arabia's larger ambition to establish mining as a significant economic driver.