{"id":77712,"date":"2023-05-30T01:01:43","date_gmt":"2023-05-30T01:01:43","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/05\/30\/ksa-is-seeking-mining-investors-and-exploring-a-partnership-with-algeria-on-renewables-and-green-hydrogen-plus-oman-supports-ev-expansion-with-incentives\/"},"modified":"2023-05-30T01:01:43","modified_gmt":"2023-05-30T01:01:43","slug":"ksa-is-seeking-mining-investors-and-exploring-a-partnership-with-algeria-on-renewables-and-green-hydrogen-plus-oman-supports-ev-expansion-with-incentives","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/05\/30\/ksa-is-seeking-mining-investors-and-exploring-a-partnership-with-algeria-on-renewables-and-green-hydrogen-plus-oman-supports-ev-expansion-with-incentives\/","title":{"rendered":"KSA is seeking mining investors and exploring a partnership with Algeria on renewables and green hydrogen PLUS: Oman supports EV expansion with incentives"},"content":{"rendered":"

<\/a> KSA seeks subscribers for mining incubator program: <\/strong>Saudi Arabia\u2019s Industry and Mineral Resources Ministry called on SMEs and investors interested in the minerals sector to register for its Nuthree incubator program for mining exploration, the Saudi Press Agency<\/a> reports. The initiative was launched in March<\/a> to facilitate knowledge exchange between established companies and startups and support companies and individuals in obtaining a mining exploration license. Since February 2022, the kingdom has issued 80 new mining licenses, according to SPA.<\/p>\n

Nuthree is helping the government attract USD 15 bn in investments:<\/strong> The Nuthree incubator program comes as part of a national plan to deploy over USD 15 bn<\/a> of capital for investments in global mining investments in the coming years through a joint venture between Saudi mining company Ma\u2019aden and the Public Investment Fund established in January<\/a>. The kingdom says it has untapped metals and minerals \u2014 including copper, zinc, phosphate, and gold \u2014 collectively worth USD 1.3 tn<\/a>.<\/p>\n

ALSO- A geological map of the KSA in partnership with China is in the works: <\/strong>Saudi Arabia\u2019s Minister of Industry and Mineral Resources Bandar Al-Khorayef launched the Arabian Shield geological mapping project on Sunday, the Saudi Press Agency<\/a> reported. The project will be developed in partnership with the Chinese Geological Survey at a cost of SAR 777 mn (USD 207 mn). The map sets out to locate the region\u2019s mineral deposits while expanding the National Geological Database and national library of drilling samples to provide investors with knowledge of investment opportunities, the outlet notes.<\/p>\n

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Algeria and KSA talk renewables, green hydrogen cooperation:<\/strong> Algeria\u2019s Minister of Energy and Mines Mohamed Arkab met with a delegation from Saudi Delta Company<\/a> to discuss potential investments in renewables and green hydrogen through Algeria\u2019s state-owned oil firm Sonatrach, according to a statement<\/a>. The delegation was headed by the company\u2019s President and Director General Badr Al Aiban. Delta Group\u2019s energy arm began investing in renewables in 2015, mostly in generating clean energy for car parks, public buildings, farm houses, and street lighting, according to their website.<\/p>\n

REMEMBER-<\/strong> Sonatrach has been exploring green projects, signing two decarbonization<\/a>agreements<\/a> with Italy\u2019s Eni last January, including launching studies to see how Algeria\u2019s energy export to Europe could be improved. Sonatrach also partnered<\/a> with South Africa\u2019s petrochemicals company Sasol to establish low-carbon hydrogen production and synthetic gas generation plants equipped with carbon capture and storage tech in Sicily.<\/p>\n

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<\/a> Oman dishes out incentives for EV adoption:<\/strong> Electric vehicles in Oman will be exempt from value-added tax, customs tax, and registration fees nationwide starting 1 July, Oman News Agency<\/a> (ONA) reported earlier this week. The exemption, which will also apply to EV spare parts, will remain in effect for three years and will be subject to renewal, according to ONA. The move is part of the sultanate\u2019s efforts to transition to zero-emission vehicles and encourage residents to purchase EVs. It also aims to encourage car suppliers to import a wide range of EVs to ensure diversity and stability in the market.<\/p>\n

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n