Aramco, Maaden Form Major Mining Joint Venture

Saudi Aramco and Ma'aden have signed a shareholders' agreement to establish a joint venture focused on mineral exploration and hard-rock mining across Saudi Arabia. The deal, signed in 2026, brings together two of the Kingdom's largest industrial players to develop the country's mineral wealth.

The partnership covers an exploration area of about 182,000 square kilometers, located in Zone 4, known as the Transition Zone, within the Arabian Platform. Under the agreement, Ma'aden will hold a 51% stake in the venture, while Aramco will hold 49%.

Copper is the main target of the exploration work, with the joint venture also focused on zinc, lead, and rare earth elements. These minerals are increasingly important for a range of modern industries, from construction and manufacturing to advanced technology and clean energy applications.

Why It Matters

Mining is a growing pillar of the Kingdom's economic diversification efforts under رؤية السعودية 2030, aimed at expanding sectors beyond oil and creating new industrial opportunities and jobs. A partnership of this scale signals continued momentum in developing Saudi Arabia's mineral resources.

The agreement remains subject to the required corporate, regulatory, and antitrust approvals before the venture becomes fully operational. At this stage, no financial figures, permits, or timelines have been disclosed regarding the partnership.

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