{"id":82721,"date":"2024-11-28T00:00:00","date_gmt":"2024-11-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/11\/28\/ksa-inks-nine-new-agreements-to-shore-up-mining-sector-supply-chains\/"},"modified":"2024-11-28T00:00:00","modified_gmt":"2024-11-28T00:00:00","slug":"ksa-inks-nine-new-agreements-to-shore-up-mining-sector-supply-chains","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/11\/28\/ksa-inks-nine-new-agreements-to-shore-up-mining-sector-supply-chains\/","title":{"rendered":"KSA inks nine new agreements to shore up mining sector supply chains"},"content":{"rendered":"

Saudi Arabia secured nine agreements with USD 9.3 bn worth of <\/strong>investments to boost the supply chain capacity to support its mining sector<\/strong>, Reuters<\/a> reports. The agreements primarily target the development of processing and manufacturing facilities in KSA\u2019s industrial zones. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Here\u2019s a rundown of what we know about the projects:<\/strong><\/p>\n

#1- Copper rod:<\/strong> India's Vedanta Copper International, a subsidiary of Vedanta, signed an MoU with the Industry and Mineral Resources Ministry to invest USD 2 bn in significant copper projects in the Kingdom, according to a statement (pdf)<\/a>. The projects include a 400k metric ton per annum (TPA) greenfield copper smelter and refinery and a 300k TPA copper rod project, all set to be established in Ras Al Khair Industrial City. The company plans to begin its investments with a 125k copper rod project set to begin production by 2Q 2026, with initial investments of USD 30 mn.<\/p>\n

#2- Zijin plans to invest between SAR 5 and USD 6 bn in a multi-phase zinc, lithium, and copper project.<\/strong> The first phase will involve building a zinc smelter capable of producing 100k TPA of zinc ingots and 200k TPA of sulphuric acid. The second phase includes a lithium carbonate mining facility with a production capacity of 60k TPA of battery-grade lithium carbonate, and the final phase will see the establishment of a copper refinery with an output of approximately 50k TPA of electrolytic copper foil and 200k TPA of copper cathodes.<\/p>\n

#3- Australia\u2019s Hastings Technology Metals is set to invest SAR 5.6 to 7.2 bn in a multi-phase project to build processing facilities for rare earth elements.<\/strong> This will include a hydrometallurgical processing plant, a solvent extraction separation facility, and a downstream processing facility, Reuters reported.<\/p>\n

#4- A smelter and refinery:<\/strong> Vancouver-based Platinum Group Metals, in partnership with local firm Ajlan & Bros Mining, is exploring investments worth SAR 1.9 bn platinum into developing a group metals smelter and a base metals refinery. The smelter would process feedstock sourced from the company\u2019s Waterberg mine in South Africa.<\/p>\n

REMEMBER- Saudi Arabia has big mining plans:<\/strong> The country\u2019s Industry and Mineral Resources Ministry launched a fresh incentives package<\/a> worth SAR 685 mn earlier this year as part of efforts to expand the sector and tap reserves of gold, phosphate, and others. The goal is to attract local and foreign mining investors as part of a push to become a global hub for metals critical for the energy transition and become an EV manufacturing hub. The nation\u2019s untapped mineral resources are now worth as much as USD 2.5 tn, or 90% more than the last forecast in 2016.<\/p>\n","protected":false},"excerpt":{"rendered":"

The agreements primarily target the development of processing and manufacturing facilities in KSA\u2019s industrial zones<\/p>\n","protected":false},"author":1,"featured_media":82722,"comment_status":"","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":[45],"tags":[44,31],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-investment-watch","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"fc22422d-a7f1-4ea7-bcc2-8ddd2969800d","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/2562.jpg","photo_position":"above","homepage_title":"","full_issue_title":"KSA inks nine new agreements to shore up mining sector supply chains","related_issue":[82709],"teaser":"The agreements primarily target the development of processing and manufacturing facilities in KSA\u2019s industrial zones","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.35d3e664-4003-4c90-a220-2c4c1bc82f82.mp3"},"yoast_head":"\nKSA inks nine new agreements to shore up mining sector supply chains - 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