Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Al-Khorayef, has stated that the country is committed to importing lithium from abroad to support its ambitions in producing electric car batteries and investing in this sector. Despite efforts to provide these supplies locally being still in the early stages, Al-Khorayef emphasized the importance of lithium in the supply chain, especially for batteries.
Al-Khorayef mentioned that 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. Regarding international investments in lithium, Al-Khorayef expressed confidence that Saudi Arabia’s natural resource needs will be met either through domestic products or imports. The Public Investment Fund and Ma’aden have established a joint project to invest in mining assets abroad to secure these resources.
Chilean officials have mentioned potential discussions with Saudi Arabia regarding investments in the mining sector, but Al-Khorayef stated that he was not aware of any specific talks about lithium licenses with Chile. He emphasized the need for further exploration and research to ensure the economic viability of lithium extraction in Saudi Arabia.
In summary, Saudi Arabia is committed to importing lithium from abroad while also exploring local options for extracting this crucial mineral. The country has established partnerships with Aramco and foreign investors to secure its natural resource needs and ensure its economic viability in this sector.