Saudi Arabia has committed to importing lithium from abroad to support its ambitions in producing electric car batteries and investing in this sector, according to Bandar Al-Khorayef, the country’s Minister of Industry and Mineral Resources. While efforts to provide these supplies locally are still in the early stages, Al-Khorayef emphasized the importance of lithium in the supply chain, especially for batteries, stating that it is a crucial mineral that cannot be overlooked.
To secure its natural resource needs, Saudi Arabia has started exploring the possibility of extracting lithium from seawater and salty discharges from oil fields in partnership with Aramco. However, the success of these initiatives is still uncertain. The Public Investment Fund and Ma’aden have established a joint project to invest in mining assets abroad to secure these resources.
Regarding international investments in lithium, Al-Khorayef expressed confidence that Saudi Arabia’s needs will be met either through domestic products or imports. He stated that Chilean officials have mentioned potential discussions with Saudi Arabia regarding investments in the mining sector, but he was not aware of any specific talks about lithium licenses with Chile.
Al-Khorayef emphasized the need for further exploration and research to ensure the economic viability of lithium extraction in Saudi Arabia.
