{"id":89249,"date":"2025-02-14T00:00:00","date_gmt":"2025-02-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2025\/02\/14\/gulf-states-push-into-metals-trading-as-demand-surges\/"},"modified":"2025-02-14T00:00:00","modified_gmt":"2025-02-14T00:00:00","slug":"gulf-states-push-into-metals-trading-as-demand-surges","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2025\/02\/14\/gulf-states-push-into-metals-trading-as-demand-surges\/","title":{"rendered":"Gulf states push into metals trading as demand surges"},"content":{"rendered":"

An increased appetite for metal trading by <\/strong>Gulf<\/strong> stat<\/strong>es has caught the eye of the <\/strong>Financial<\/a><\/strong>Times<\/a><\/strong>, who ran a report last Sunday about leading firms in the UAE, KSA, and Oman setting up shop to capitalize on growing global demand for critical minerals. The move is part of Gulf countries\u2019 push to diversify their economies beyond oil and gas and position themselves as key players in the global supply chain for metals essential to the energy transition, including copper, lithium, and iron ore.<\/p>\n

Dubai is emerging as a hub:<\/strong> Over the past five years, MENA \u2014 particularly Dubai \u2014 has seen an influx of commodity traders gradually shifting away from traditional hubs like London and Geneva. Abu Dhabi\u2019s IRH \u2014 which plans to establish a copper trading hub<\/a> in Abu Dhabi \u2014 has already assembled a trading team for oil, gas, and metals, and is in talks with international players, including Mercuria, to explore potential trading windows. ADQ also announced last week a USD 1.2 bn JV with Orion Resources<\/a> to invest in mining assets and pursue offtake and long-term supply agreements. <\/p>\n

Oman is also on the move:<\/strong> The country is launching a trading company under Minerals Development Oman (MDO) to consolidate fragmented exports of chromite and gypsum and boost prices, MDO\u2019s CEO Mattar Al Badi told the FT. MDO is in talks with six global commodities firms \u2014 Trafigura, Glencore, Traxys, IXM, Mercuria, and Gunvor \u2014 on potential offtake agreements for processed copper and partnerships in its trading unit. <\/p>\n","protected":false},"excerpt":{"rendered":"

The move falls in line with Gulf countries\u2019 economic diversification efforts by angling for a piece of the global supply chain for metals<\/p>\n","protected":false},"author":1,"featured_media":89250,"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":[157],"tags":[519,156,315,389,11,92,293,159,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-climate-in-the-news","tag-adq","tag-climate-in-the-news","tag-critical-metals","tag-energy-transition","tag-enterpriseclimate","tag-oman","tag-pif","tag-saudi-arabia","tag-uae","wpautop","entry"],"acf":{"mongo_id":"694b3795-a90b-4044-ad58-31feff1c3ee4","order":"11","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/2\/1354.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Gulf states push into metals trading as demand surges","related_issue":[89228],"teaser":"The move falls in line with Gulf countries\u2019 economic diversification efforts by angling for a piece of the global supply chain for metals","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.96561052-bf8b-4fc4-81f1-789886319d0c.mp3"},"yoast_head":"\nGulf states push into metals trading as demand surges - 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