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Released May 29, 2025 | SUGAR LAND
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Written by Paul Wiseman for Industrial Info Resources (Sugar Land, Texas)--As the U.S. looks to spread its sourcing of critical minerals beyond the dominance of China, other nations with deposits of these increasingly in-demand minerals are also looking to ramp up production.
Industrial Info Vice President of Research Metals & Minerals Joe Govreau pointed out, "Saudi Arabia is diversifying away from reliance on oil [as are many Middle East nations] so investment in mining and smelting are on the rise. Saudi Arabia has about $6 billion worth of critical minerals projects under development including aluminum, copper, ilmenite and lithium."
Saudi mining company Maaden (Riyahd) is evaluating partnerships with at least one international mining company to develop a rare earth elements (REEs) and magnet manufacturing facility. Maaden is already a major force in mining in the region, operating 17 mines and sites, with 6,000 employees and revenues of $7.12 billion in 2023.
Reports are that the company is considering U.S.-based MP Materials (Las Vegas, Nevada), Shenghe Resources from China, Lynas Rare Earths (Perth, Western Australia), and Neo Performance Materials (Toronto, Canada) for such a deal. Sources have listed late June as the goal for choosing a company.
After that the Saudis and the selected firm will conduct a feasibility study to see how best to proceed, looking for a report to be issued by the end of 2025. All this is part of the nation's Vision 2030, a plan for reducing its dependence on oil and diversifying its economy. The region appears to have significant deposits of gold and silver, along with industrial metals including aluminum, iron, copper, zinc, manganese, and chromium. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases can click here for related project reports and click here for a plant profile.
Iran announced in 2023 the discovery of minable lithium deposits in Hamedan, with an estimated 8.5 million metric tons of lithium carbonate equivalent. That would make the nation's lithium stores second in the world, behind only Chile's 9.2 million metric tons. But with worldwide sanctions on Iran already in place, the possibility of finding investments to develop and market such deposits would seem remote at this time.
Two Middle East nations with little to no oil--Jordan and Turkey--are also jumping into the REE waters. Jordan includes the eastern shore of the Dead Sea's trove of deposits, mainly lithium. The nation is considering tapping into that according to a 2023 release from MENAFN, the Jordanian news agency.
The release quoted Maen Ensour, chief executive of the Arab Potash Company, as saying the company's work in the lithium market included "advancements in lithium concentration processes that can potentially revolutionize lithium extraction from the Dead Sea."
Turkey would like to see REEs developed there. Some in the nation claim to have found enough resources to meet global demand for a thousand years, but outside experts doubt that its deposits are anywhere close to that amount. And, as with any nation new to the fray, the ability to fund further exploration, then mining and processing, would be a major hurdle.
The challenge for all REE endeavors, especially the processing end, is to maintain environmentally friendly operations. Processing generally requires much energy, copious amounts of water, and leaves mountains of toxic waste, all of which runs counter to the environmental goals for which their end product is targeted. And, especially in undeveloped nations, the labor force often involves underage workers and toxic conditions.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Industrial Info Vice President of Research Metals & Minerals Joe Govreau pointed out, "Saudi Arabia is diversifying away from reliance on oil [as are many Middle East nations] so investment in mining and smelting are on the rise. Saudi Arabia has about $6 billion worth of critical minerals projects under development including aluminum, copper, ilmenite and lithium."
Saudi mining company Maaden (Riyahd) is evaluating partnerships with at least one international mining company to develop a rare earth elements (REEs) and magnet manufacturing facility. Maaden is already a major force in mining in the region, operating 17 mines and sites, with 6,000 employees and revenues of $7.12 billion in 2023.
Reports are that the company is considering U.S.-based MP Materials (Las Vegas, Nevada), Shenghe Resources from China, Lynas Rare Earths (Perth, Western Australia), and Neo Performance Materials (Toronto, Canada) for such a deal. Sources have listed late June as the goal for choosing a company.
After that the Saudis and the selected firm will conduct a feasibility study to see how best to proceed, looking for a report to be issued by the end of 2025. All this is part of the nation's Vision 2030, a plan for reducing its dependence on oil and diversifying its economy. The region appears to have significant deposits of gold and silver, along with industrial metals including aluminum, iron, copper, zinc, manganese, and chromium. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases can click here for related project reports and click here for a plant profile.
Iran announced in 2023 the discovery of minable lithium deposits in Hamedan, with an estimated 8.5 million metric tons of lithium carbonate equivalent. That would make the nation's lithium stores second in the world, behind only Chile's 9.2 million metric tons. But with worldwide sanctions on Iran already in place, the possibility of finding investments to develop and market such deposits would seem remote at this time.
Two Middle East nations with little to no oil--Jordan and Turkey--are also jumping into the REE waters. Jordan includes the eastern shore of the Dead Sea's trove of deposits, mainly lithium. The nation is considering tapping into that according to a 2023 release from MENAFN, the Jordanian news agency.
The release quoted Maen Ensour, chief executive of the Arab Potash Company, as saying the company's work in the lithium market included "advancements in lithium concentration processes that can potentially revolutionize lithium extraction from the Dead Sea."
Turkey would like to see REEs developed there. Some in the nation claim to have found enough resources to meet global demand for a thousand years, but outside experts doubt that its deposits are anywhere close to that amount. And, as with any nation new to the fray, the ability to fund further exploration, then mining and processing, would be a major hurdle.
The challenge for all REE endeavors, especially the processing end, is to maintain environmentally friendly operations. Processing generally requires much energy, copious amounts of water, and leaves mountains of toxic waste, all of which runs counter to the environmental goals for which their end product is targeted. And, especially in undeveloped nations, the labor force often involves underage workers and toxic conditions.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
