Page 160 - CW E-Magazine (28-1-2025)

News from Abroad

EXPLORATION & MINING
Aramco, Ma’aden plan Joint Venture to extract lithium

and other minerals

Saudi Arabian integrated energy ing meaningfully to the growth of more
and chemicals conglomerate, Aramco, sustainable energy solutions while
and Ma’aden, a multi-commodity min- diversifying our portfolio for a lower-
ing and metals company also based in carbon future”.
Saudi Arabia, have announced the sign-
ing of non-binding Heads of Terms, Mr. Darryl Clark, Ma’aden Senior
which envisages the formation of a Vice President of Exploration, added,
minerals exploration and mining joint “Ma’aden has been undertaking one of
venture (jv) in Saudi Arabia. the world’s largest single-jurisdiction
exploration programs across the Arabian
The proposed jv would focus on identifi ed several areas with a high Shield, to unearth the estimated $2.5-
energy transition minerals, including lithium concentration of up to 400 trillion mineral endowment. This pro-
extracting lithium from high concen- parts per million. The jv is expected posed JV would enable us to accelerate
tration deposits and advancing cost- to benefi t from Aramco’s signifi cant exploration of the Arabian Platform,
effective direct lithium extraction (DLE) expertise and operations, including the combining Aramco’s vast knowledge
technologies. Commercial lithium pro- use of existing infrastructure, drilling of the area with Ma’aden’s extensive
duction could potentially commence operations, and more than 90 years of mining and exploration expertise”.
by 2027. The proposed jv is expected geological data in its area of opera-
to extend Aramco’s capabilities into an tions. The total global demand for lithium
adjacent sector, leveraging its techno- has tripled over the past fi ve years, and
logical innovation and skills in resource The jv is expected to further harness its compound annual growth rate is
and data management. natural resources utilising a wealth of anticipated to exceed 15% per annum
subsurface data, as well as emerging through 2035. The jv could potentially
It would seek to unlock the poten- technologies, to advance the nation’s help meet Saudi Arabia’s forecasted
tial of Saudi Arabia’s mineral resources, economic diversifi cation and energy demand for lithium, which is expected
with the aim of helping meet growing ambitions. Mr. Nasir Al-Naimi, Aramco to grow twenty-fold between 2024 and
demand for lithium and other transition Upstream President, said, “The 2030, supporting an estimated 500,000
minerals both domestically and globally. proposed JV will enable extraction of electric vehicle batteries and 110-GW
As part of its operations, Aramco has energy transition minerals, contribut- of renewables.

BATTERY MATERIAL
ICL and China’s Dynanonic plan production of lithium

iron phosphate in Europe

Israeli speciality minerals company, stages and will substantially
ICL, has signed a joint venture (jv) expand the company’s bat-
agreement with China’s Shenzhen tery materials business.
Dynanonic to establish lithium iron phos-
phate (LFP) cathode active material “This expansion builds
(CAM) production in Europe, with an on our strong, existing up-
initial investment of about €285-mn. stream position in speciality
phosphates globally and
A new facility at ICL’s Sallent, leverages the strengths of
Spain, site is currently in planning Dynanonic, a leading pro-

160 Chemical Weekly January 28, 2025

Contents Index to Advertisers Index to Products Advertised