Saudi Arabian Mining Company (Ma’aden) has signed an agreement with the Saudi sovereign wealth fund, the Public Investment Fund, to set up a joint company that will invest in mining assets abroad to secure strategic minerals. Under the joint venture agreement, Ma’aden will own 51% of the new company, while the Public Investment Fund (PIF) will own the remaining 49%, Ma’aden said in a statement on Wednesday. The joint company plans to initially invest in the iron ore, copper, nickel, and lithium sectors as a non-operating…
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