Saudi state mining giant Ma’aden and US-based Ivanhoe Electric have closed a deal to investigate 48,500 sq km of under-explored lands in the Arabian Shield for “critical minerals” that are key to powering the global energy transition. Surveys could begin as soon as September in the new joint venture, which is worth nearly $130 million, reports AGBI. The Saudi region – roughly the size of Switzerland – is understood to be rich potential for critical minerals such as copper, nickel, gold, silver and possibly lithium. Lithium is of great interest to Saudi Arabia as it is a key component of EV batteries. The kingdom wants to develop a significant industry around electric vehicles and to produce
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