{"id":89099,"date":"2025-01-24T00:00:00","date_gmt":"2025-01-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2025\/01\/24\/more-mining-updates-from-saudis-future-minerals-forum\/"},"modified":"2025-01-24T00:00:00","modified_gmt":"2025-01-24T00:00:00","slug":"more-mining-updates-from-saudis-future-minerals-forum","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2025\/01\/24\/more-mining-updates-from-saudis-future-minerals-forum\/","title":{"rendered":"More mining updates from Saudi\u2019s Future Minerals Forum"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More mining + green industry agreements for KSA from Future Minerals Forum: <\/strong>Saudi Arabia inked 126 mining agreements and MoUs valued at SAR 107 bn (c. USD 28.5 bn) at the fourth annual Future Minerals Forum, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2244341\" style=\"\" rel=\"noopener\">SPA<\/a> reported last week. Many of the agreements aim to boost the Kingdom's mining, exploration, and value-added minerals supply chains, as well as sustainable production. Here\u2019s what we know so far:<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Sustainable cement by Modon + STA: <\/strong>An industrial contract was signed between the <a target=\"_blank\" href=\"https:\/\/modon.gov.sa\/en\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Saudi<\/a><a target=\"_blank\" href=\"https:\/\/modon.gov.sa\/en\/Pages\/default.aspx\" style=\"\" rel=\"noopener\">Authority for Industrial Cities & Technology Zones (Modon)<\/a> and sustainable constructor STA Industry to allocate over 120k sqm of industrial land in Al-kharj to produce environmentally friendly cement alternatives, with planned investments of over SAR 195 mn, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/saudi-authority-for-industrial-cities-and-technology-zones_%D8%A8%D8%B1%D8%B9%D8%A7%D9%8A%D8%A9-%D9%88%D8%AD%D8%B6%D9%88%D8%B1-%D9%85%D8%B9%D8%A7%D9%84%D9%8A-%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-%D9%88%D8%A7%D9%84%D8%AB%D8%B1%D9%88%D8%A9-%D8%A7%D9%84%D9%85%D8%B9%D8%AF%D9%86%D9%8A%D8%A9-activity-7285682262250065923-yvVM\/?utm_source=social_share_sheet&utm_medium=member_desktop_web\" style=\"\" rel=\"noopener\">statement<\/a> published last week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Modon\u2019s Al-Khunayqiyah industrial mining project:<\/strong> An MoU was signed to develop industrial land near the Al-Khunayqiyah mine, aiming to support mining operations and optimize the extraction of 25 mn tons of raw materials such as zinc, copper, manganese, and gold, <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2244446\" style=\"\" rel=\"noopener\">SPA<\/a> reported last Friday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Modon + Energy car batteries: <\/strong>Modon and <a target=\"_blank\" href=\"https:\/\/epc-battery.com\/\" style=\"\" rel=\"noopener\">Saudi Energy Projects Company<\/a> signed an industrial contract allocating over 69k sqm of land in Shaqra industrial city for a car battery manufacturing plant, with over SAR 125 mn planned investments. The project focuses on localizing automotive battery production, creating national supply chains, and enabling exports to global markets, according to a <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/saudi-authority-for-industrial-cities-and-technology-zones_%D8%A8%D8%B1%D8%B9%D8%A7%D9%8A%D8%A9-%D9%88%D8%AD%D8%B6%D9%88%D8%B1-%D9%85%D8%B9%D8%A7%D9%84%D9%8A-%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-%D9%88%D8%A7%D9%84%D8%AB%D8%B1%D9%88%D8%A9-%D8%A7%D9%84%D9%85%D8%B9%D8%AF%D9%86%D9%8A%D8%A9-activity-7285656431280738304-8ms6\/?utm_source=social_share_sheet&utm_medium=member_desktop_web\" style=\"\" rel=\"noopener\">statement<\/a> released last week. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- RCJY + Vale:<\/strong> RCJY and Brazilian miner <a target=\"_blank\" href=\"https:\/\/vale.com\/\" style=\"\" rel=\"noopener\">Vale<\/a> signed a land reservation agreement for a multi-phase Mega Hub at Ras Al-Khair to sustainably produce up to 12 mn tons annually of cold-briquette iron ore, boosting raw materials for domestic and global markets and reducing emissions, according to a <a target=\"_blank\" href=\"https:\/\/vale.com\/w\/vale-and-royal-comission-of-jubail-and-yanbu-sign-land-reservation-agreement-for-multi-million-dollar-mega-hub-at-ras-al-khair\/-\/categories\/1968812\" style=\"\" rel=\"noopener\">press release<\/a> published last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- Deep-sea mining fund by Mekyal + Atlantis Blu Mining:<\/strong> An MoU between Atlantis Blu Mining GmbH and Saudi\u2019s <a target=\"_blank\" href=\"https:\/\/www.mekyal.com\/en\/\" style=\"\" rel=\"noopener\">Mekyal<\/a> Financial Technology and Marine Mining Company was signed to establish a USD 1.4 bn fund supporting deep-sea mineral exploration and exploitation, <a target=\"_blank\" href=\"https:\/\/english.mubasher.info\/news\/4392986\/Mekyal-Atlantis-Blu-Mining-GmbH-announce-1-4bn-fund-at-FMF-2025\/\" style=\"\" rel=\"noopener\">Mubasher<\/a> reported last week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#6- <\/strong><strong>Ma\u2019aden<\/strong> <strong>also signed an MoU with <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.elementusaminerals.com\/\" style=\"\" rel=\"noopener\">ElementUSA<\/a><\/strong><strong> to deploy the latter\u2019s tech to extract <\/strong><strong>critical and REMs from various waste streams<\/strong>, including red mud and phosphogypsum, according to a <a target=\"_blank\" href=\"https:\/\/www.elementusaminerals.com\/media\/maadenmou\" style=\"\" rel=\"noopener\">press release<\/a> published on Tuesday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> <strong>The Kingdom is turning into a \u201cmining\u201d Silicon Valley,<\/strong> advancing a massive USD 100 bn investment in its mining sector, including USD 20 bn already in progress, as part of a \u201cfast and furious\u201d push to deepen the Kingdom\u2019s mining footprint and position itself as a global mining powerhouse.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong><strong>Ma\u2019aden<\/strong><strong>inks MoU with SpaceFleet + Tahreez to explore the <\/strong><strong>Arabian Shield<\/strong><strong>: <\/strong>Saudi Arabia\u2019s mining company Ma\u2019aden has inked an MoU with a JV \u2014 comprising Australia\u2019s <a target=\"_blank\" href=\"https:\/\/www.fleetspace.com\/\" style=\"\" rel=\"noopener\">Fleet Space<\/a> and Saudi security outfit <a target=\"_blank\" href=\"https:\/\/tahreez.com\/\" style=\"\" rel=\"noopener\">Tahreez<\/a> \u2014 to explore and develop mineral resources in the Kingdom, according to a <a target=\"_blank\" href=\"https:\/\/www.fleetspace.com\/newsroom\/maaden-signs-mou-with-fleet-space-tahreez-to-unlock-ksas-mineral-potential\" style=\"\" rel=\"noopener\">press release<\/a> published Monday. The collaboration entails leveraging developments in \u201cspace, multiphysics, and AI drill targeting services\u201d and Fleet Space\u2019s vertically integrated mineral exploration technology \u2014 ExoSphere \u2014 to \u201cdrive real-time 3D subsurface imaging\u201d in areas like the Arabian Shield. The timeline and investment ticket of the project were not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the Arabian Shield: <\/strong>The Arabian Shield is a unique stretch of geological terrain, spanning parts of Yemen and Jordan and \u2014 for the most part \u2014 Saudi Arabia, <a target=\"_blank\" href=\"https:\/\/sgs.gov.sa\/en\/pages\/the-precambrian-rocks\" style=\"\" rel=\"noopener\">according to the Saudi Geological Survey<\/a>. It contains valuable sources of different metals and rare earth metals (REMs), such as gold, copper, zinc, lead, tin, tungsten, and uranium. The Saudi government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/bb876ef1-6733-4f17-8498-4aebc2a0527f\" style=\"\" rel=\"noopener\">mapped part of the region<\/a> in partnership with the Chinese Geological Survey \u2014 at a cost of SAR 777 mn (USD 207 mn) \u2014 to locate mineral deposits in 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MORE MINING UPDATES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Saudi <\/strong><strong>government <\/strong><strong>has selected the first wave of qualified companies for the<\/strong> <strong><a target=\"_blank\" href=\"https:\/\/taadeen.sa\/en\/exploration-enablement-program\" style=\"\" rel=\"noopener\">Exploration Enablement Program (EEP)<\/a><\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/x.com\/mimgov\/status\/1881440550924243455\" style=\"\" rel=\"noopener\">statement<\/a> on Tuesday. The shortlisted firms are Saudi-backed <a target=\"_blank\" href=\"https:\/\/www.royalroadminerals.com\/\" style=\"\" rel=\"noopener\">Royal Road Minerals<\/a>, KSA\u2019s Ajlan & Bros, Ma\u2019aden, Almasane Alkobra (Amak), <a target=\"_blank\" href=\"https:\/\/gmco.com.sa\/\" style=\"\" rel=\"noopener\">Gold and Minerals Company<\/a>, and the Australian battery chemicals company <a target=\"_blank\" href=\"https:\/\/www.evmetalsgroup.com\/\" style=\"\" rel=\"noopener\">EV Metals Group<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moving forward with the program: <\/strong>The program \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d7dc71f7-c0b0-4a5c-852f-d706b9cf6983\/ksa-signs-spate-of-mining-agreements-worth-usd-20-bn-%2B-launches%253cmark%253e-usd-182-mn%253c%2Fmark%253e-mineral-exploration-incentive-program\" style=\"\" rel=\"noopener\">announced early last year<\/a> \u2014 incentivizes critical minerals exploration, including copper, lithium, and nickel, while offsetting costs of drilling, and geophysics and geochemistry surveys. EEP licenses will cover a total area of 4 sqkm and 440k drilling meters. The Saudi government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/e3f31033-8bc1-4a62-bb4e-ae100b7aaa4d\/saudi-shortlists-six-companies-for-mining-exploration-program\" style=\"\" rel=\"noopener\">shortlisted six bidders<\/a> for the first batch of licenses last October, with another wave penciled in for this January.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Oman <\/strong><strong>grants new copper mining license:<\/strong> Oman\u2019s Ministry of Energy and Minerals has granted Al Haditha Energya mining concession for copper in an area covering 1.4 sqkm in the Al Washhi-Al Majazah site in North Al Sharqiyah Governorate, the <a target=\"_blank\" href=\"https:\/\/timesofoman.com\/article\/154315-oman-signs-two-mining-concession-agreements\" style=\"\" rel=\"noopener\">Times of Oman<\/a> reported on Wednesday. The agreement provides for conducting topographical, geophysical and remote sensing surveys, geological mapping, and geochemical analysis during the first exploration period of three years. The site could contain up to 10 mn tons of extractable copper, the Times of Oman reported.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Major copper action for Oman recently: <\/strong>The Ministry <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/73f76bcd-5794-4544-a75a-b40b76792bab\/\" style=\"\" rel=\"noopener\">granted<\/a> AlTamman Indsil Ferrochrome a mining concession for chrome and copper in an area covering 790 sqkm in North Al Sharqiyah Governorate last month. Minerals Development Oman\u2019s (MDO) subsidiary Mazoon Mining broke ground on its integrated copper concentrate complex in Yanqul Governorate back in November. The project \u2014 planned for operational launch in 1Q 2027 \u2014 spans an area of 20 sq km, with estimated copper ore reserves of 22.9 mn tons. The project will also feature a plant with an annual processing capacity of 2.5 mn tons of copper ore and a production capacity of 115k tons of copper concentrate at a grade of 21.5%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Kingdom is advancing a massive USD 100 bn investment in its mining sector as part of a \u201cfast and furious\u201d push<\/p>\n","protected":false},"author":1,"featured_media":89100,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[373],"tags":[631,11,219,196,632,92,293,159],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mining","tag-critical-mineral","tag-enterpriseclimate","tag-maaden","tag-mining","tag-modon-holding","tag-oman","tag-pif","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"7f1595ab-a9a0-42aa-aed8-868ababdd270","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/1685.jpg","photo_position":"above","homepage_title":"","full_issue_title":"More mining updates from Saudi\u2019s Future Minerals Forum","related_issue":[89088],"teaser":"The Kingdom is advancing a massive USD 100 bn investment in its mining sector as part of a \u201cfast and furious\u201d push","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.d673e0fc-965a-420b-8458-ea45cf1a69b9.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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