Saudi Arabia is committed to importing lithium from abroad to support its ambitions in producing electric car batteries and investing in this sector, as stated by Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef. He emphasized the importance of lithium in the supply chain, stating that it is a crucial mineral that cannot be overlooked.
Saudi Arabia has started exploring the possibility of extracting lithium from seawater and salty discharges from oil fields in partnership with Aramco, but the success of these initiatives is still uncertain. The country is also looking for ways to meet its natural resource needs through international investments. 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.
Despite the challenges, Al-Khorayef expressed confidence that Saudi Arabia’s natural resource needs will be met either through domestic products or imports. The government is determined to continue investing in this sector and support its growth as a key player in the global electric vehicle market.