Saudi Arabia’s commitment to importing lithium from abroad has been emphasized by Bandar Al-Khorayef, Minister of Industry and Mineral Resources. According to him, the country is determined to invest in the production of electric car batteries and the sector as a whole. However, efforts to provide these supplies locally are still in their infancy.
Al-Khorayef highlighted the importance of lithium in the supply chain, particularly for batteries. He stressed that it is a vital mineral that cannot be overlooked. The Kingdom 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 remains uncertain.
In terms of 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. Additionally, 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. Instead, he emphasized the need for further exploration and research to ensure the economic viability of lithium extraction in Saudi Arabia.