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Saudi Focus on Minerals Needed in Power Transition, EVs

Saudi Arabia pushes to intensify mining investments amid focus on minerals with future demand (Asharq Al-Awsat)
Saudi Arabia pushes to intensify mining investments amid focus on minerals with future demand (Asharq Al-Awsat)
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Saudi Focus on Minerals Needed in Power Transition, EVs

Saudi Arabia pushes to intensify mining investments amid focus on minerals with future demand (Asharq Al-Awsat)
Saudi Arabia pushes to intensify mining investments amid focus on minerals with future demand (Asharq Al-Awsat)

Saudi Vice-Minister for Mining Affairs Khalid Al-Mudaifer has predicted a fourfold increase in the demand for minerals used in clean energy technologies and electric vehicles by 2040.

Al-Mudaifer stressed that the Kingdom of Saudi Arabia is focused on benefiting from the knowledge and experience of developed mining regions.

The vice-minister noted that net consumption of minerals like graphite, cobalt, vanadium, and nickel will exceed demand by two-thirds by 2050.

Moreover, current supplies of copper, lithium and platinum are insufficient to meet future needs. Al-Mudaifer projected a 30%- 40% supply gap for those minerals.

He explained that the new mining strategy in the Kingdom launched more than 40 initiatives designed to improve the general climate for mining and attract the investment required for the success of this new industry.

According to Al-Mudaifer, Saudi Arabia is focused on developing sustainable integrated value chains, which are enabled by creating an investment environment based on simple licensing and sustainability processes.

Additionally, Al-Mudaifer mentioned the benefits of devoting financial and human resources to bring about a rapid transformation in the mining sector in Saudi Arabia.

Al-Mudaifer noted that the mining investment system in the Kingdom provides a clear regulatory environment, as well as a transparent digital process for requests for licenses and approvals.

He added that the Kingdom’s efforts to create one of the best mining investment climates in the world has led to a 27% year-on-year growth in Saudi mining revenues in 2021.

“We have made great progress creating one of the most favorable mining investment climates in the world, resulting in a 27% year-on-year growth in mining revenues in 2021, totaling more than $8-billion in foreign direct investment attracted by the Ministry,” Al-Mudaifer told Mining Weekly.

Moreover, a recent survey reveals the enthusiasm expressed by mining industry investors regarding the opportunities in Saudi Arabia, with nearly 80% of those surveyed considering investing in the sector. This relative optimism, Al-Mudaifer said, speaks to the success of the Saudi Arabian mining sector transformation.

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Saudi-British Business Council to Turn Sustainability, Green Finance Deals into Reality

A previous meeting between the Saudi Minister of Commerce, Chairman of the Economic and Social Committee of the Saudi-British Strategic Partnership Council, and the UK Minister of State for Business and Trade in Riyadh (SPA)
A previous meeting between the Saudi Minister of Commerce, Chairman of the Economic and Social Committee of the Saudi-British Strategic Partnership Council, and the UK Minister of State for Business and Trade in Riyadh (SPA)
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Saudi-British Business Council to Turn Sustainability, Green Finance Deals into Reality

A previous meeting between the Saudi Minister of Commerce, Chairman of the Economic and Social Committee of the Saudi-British Strategic Partnership Council, and the UK Minister of State for Business and Trade in Riyadh (SPA)
A previous meeting between the Saudi Minister of Commerce, Chairman of the Economic and Social Committee of the Saudi-British Strategic Partnership Council, and the UK Minister of State for Business and Trade in Riyadh (SPA)

The Saudi-British Joint Business Council (SBJBC) has revealed ongoing efforts to translate agreements aimed at advancing sustainability, clean energy, and green financing into tangible projects.

This comes alongside the development of new initiatives in artificial intelligence and defense technology, as part of expanding bilateral cooperation between the two nations.

Speaking to Asharq Al-Awsat, Cordelia Begbie, UK Executive Director of the SBJBC, stated that the council is currently exploring new sectoral opportunities as part of its 2025-2026 program, while also hosting a series of events aimed at enhancing collaboration between the two kingdoms.

SBJBC is set to support its new research unit through upcoming events that will focus on producing both independent and collaborative research papers, revealed Begbie.

These papers will address regulatory changes, sector insights, and opportunities for development, as well as highlight government initiatives designed to assist businesses in these areas.

According to Begbie, the council's activities are centered on clean technology projects, linking investors with emerging clean tech companies from both Saudi Arabia and the UK.

These initiatives also support specialized task forces that discuss policy developments and long-term opportunities in these sectors, with active participation from both public and private sector stakeholders.

The Saudi-British cooperation plan has made notable strides in investment, economic, and commercial projects, particularly through the “Saudi-British Vision 2030” partnership.

This initiative has significantly strengthened ties between the two nations in key areas such as technology, energy, infrastructure, and defense.

Additionally, the Saudi Public Investment Fund has made substantial investments in British projects, particularly in clean energy, green hydrogen, and infrastructure.

The two countries have also deepened their collaboration in renewable energy, with British companies playing a key role in Saudi Arabia’s large-scale solar and wind energy projects.

Begbie expressed strong optimism about the future of Saudi-British cooperation in climate, clean technology, hydrogen, and ammonia. The collaboration is seen as highly promising, driven by shared goals to address climate change and diversify the economy, with both nations committed to achieving net-zero emissions.

While the UK aims to reach this target by 2050, Saudi Arabia is set to achieve it by 2060, creating significant potential for bilateral cooperation.

Saudi Arabia is solidifying its position as a global leader in hydrogen production, with vast opportunities for collaboration with the UK, which has extensive expertise in hydrogen policies and technology. Geopolitical and economic ties also enhance this cooperation, as Saudi Arabia’s strategic location serves as an energy hub for Europe, Asia, and Africa.

Moreover, the UK’s environmental policy goals align with Saudi Arabia’s climate objectives, further strengthening the partnership.

Bilateral agreements, such as the Saudi-British Vision 2030 partnership, are expected to boost investments in clean technologies and sustainability.

The SBJBC continues to work with stakeholders to expand its reach and influence within Saudi Arabia. The council also oversees the ongoing growth of the Saudi-British Technology Center, an integral part of the SBJBC since its launch in 2022.

The SBJBC remains committed to enhancing private sector contributions and developing stronger commercial ties between the two nations, offering a range of services and providing access to high-level networks from both the public and private sectors in both countries.