Mining

Aramco and Ma’aden have officially signed a shareholders’ agreement to establish a joint venture aimed at unlocking significant new frontiers for mineral exploration and hard-rock mining across the Kingdom of Saudi Arabia. 

Aramco and Ma’aden have officially signed a shareholders’ agreement to establish a joint venture aimed at unlocking significant new frontiers for mineral exploration and hard-rock mining across the Kingdom of Saudi Arabia. 

This strategic collaboration, which was first disclosed in January 2025, represents a landmark effort to integrate Aramco’s advanced technical capabilities with Ma’aden’s extensive mining expertise to bolster the global energy transition value chain.

The newly formed entity is expected to be owned 51% by Ma’aden and 49% by Aramco. Its primary mandate is to focus on exploration activities within ‘Zone-4’, an area frequently referred to as the Transition Zone. Situated along the Arabian Platform, this exploration region covers approximately 182,000 square kilometres—an area equivalent to nearly 10% of the total land mass of Saudi Arabia.

Pioneering Exploration through Advanced Technology

The joint venture intends to leverage a combination of historical geological data and cutting-edge computational tools. By utilising high-performance computing and proprietary artificial intelligence algorithms, the partnership aims to identify areas with high potential for copper and other critical transition minerals. This approach is designed to streamline the transition from initial regional screening to definitive target discovery.

Saleh M. Al Saleh, Aramco Vice President of Transition Minerals, highlighted the extensive data foundation underpinning the project: “Over 90 years, Aramco has accumulated and analysed the largest amount of geological and geophysical data ever acquired in a single basin for the Kingdom. This partnership intends to leverage this legacy information to find minerals in the JV area within the basin. Maaden's expertise, our people, high-performance computing, and AI are expected to play a pivotal role in accelerating the discovery of key transition minerals at low cost.”

Strengthening the Global Energy Transition

The global demand for copper is experiencing rapid growth, largely driven by the increasing shift toward electric vehicles, advanced power networks, energy storage solutions, and renewable energy infrastructure. Currently, copper represents over 20% of the $1.2 trillion mined metals market. With the market valuation projected to climb from approximately $250 billion today to over $400 billion by 2035, the strategic importance of this joint venture cannot be understated.

In addition to copper, the exploration efforts will target other essential minerals, including zinc, lead, and various rare earth elements that are anticipated to be fundamental to the industries of the future.

Darryl Clark, Ma’aden Executive Vice President for Exploration, emphasised the scale of the ambition: “Maaden has been advancing one of the world's largest single jurisdiction exploration programs across the Arabian Shield to help unlock the Kingdom's mineral potential. This joint venture would take that ambition into a new area. By combining Maaden's exploration and development expertise with Aramco's extraordinary knowledge of the Arabian Platform, we would have an opportunity to move faster, explore smarter, and create new opportunities to discover the minerals that will power the energy transition.”

Regulatory Path Ahead

While the agreement marks a significant milestone, the incorporation of the joint venture remains subject to several conditions. The effectiveness of the shareholders’ agreement is contingent upon the successful fulfillment of various conditions precedent, including obtaining all necessary corporate and regulatory approvals, as well as securing standard antitrust clearances.

By combining the operational strengths of two of the Kingdom’s most prominent organisations, the JV aims to reinforce Saudi Arabia’s role as a key player in the global minerals sector, ensuring a more resilient supply chain for the energy systems of tomorrow.

Egypt and Jordan have formally agreed to significantly deepen their strategic partnership across the energy and mining sectors.

Across the Middle East, nations face the pressing challenge of maximising the economic value of natural resources while mitigating the impacts of volatile global energy markets.

For countries with substantial mineral wealth, simply extracting raw materials is no longer sufficient to sustain long-term economic development. The contemporary industrial landscape demands a transition towards value-added processing and sophisticated supply chains. Historically, in the mining and energy sectors, isolated national strategies have led to elevated operational costs and constrained industrial competitiveness.

For Jordan and Egypt, addressing these challenges requires modernising infrastructure and securing affordable, reliable energy to power their respective industrial zones. In an era where long-term energy security and rapid industrial growth are inextricably linked, the high cost of powering large-scale manufacturing remains a primary hurdle. To remain competitive on the global stage, regional players must find innovative ways to reduce energy expenditures while upgrading their capacities to process raw materials, such as raw phosphate, into high-value fertilisers and specialised chemical products.

Regional Integration as a Growth Catalyst

The solution to these industrial challenges lies in cross-border cooperation and the pooling of technical expertise. By linking energy networks, sharing advanced production technologies, and developing joint geological services, neighbouring nations can create a highly resilient economic environment. This integration allows countries to leverage complementary strengths, such as Egypt's extensive experience in natural gas distribution and Jordan's rich mineral reserves.

Furthermore, the current market dictates a pivot towards sustainable, forward-looking industries. The global push for agricultural security has heightened the demand for phosphate-based industries, including the production of phosphoric acid. Concurrently, the ongoing energy transition opens new avenues for investments in ammonia and green hydrogen production. By aligning industrial strategies, these nations can capture a larger share of expanding global markets, transitioning from raw material exporters to hubs of advanced chemical and green energy manufacturing.

A Strategic Bilateral Partnership

In a definitive move to operationalise this cooperative regional strategy, Egypt and Jordan have formally agreed to significantly deepen their strategic partnership across the energy and mining sectors. During high-level talks held in Amman on the 12th of July 2026, Egyptian Minister of Petroleum and Mineral Resources Karim Badawi and Jordanian Minister of Energy and Mineral Resources Saleh Al-Kharabsheh established a comprehensive framework for a new phase of bilateral economic integration. The discussions underscored the critical importance of translating strong diplomatic ties into actionable, on-the-ground investments.

The announcement outlines specific plans to maximise the added value of both nations' natural resources. In the mining sector, the two countries will collaborate on developing phosphate-based industries, enhancing mineral value chains, and conducting joint exploration activities. The partnership will combine technical, engineering, and managerial expertise to implement large-scale projects and eventually expand into broader regional markets.

A pivotal element of this agreement involves increasing the participation of Egyptian petroleum sector companies in Jordan's energy infrastructure. Building upon the successful track record of the Fajr Jordan Egyptian Natural Gas Transmission and Supply Company, Petrojet, ENPPI, and Gas Misr, the new initiatives will explore opportunities for enterprises like EPROM, Town Gas, and Modern Gas.

Crucially, the Jordanian government announced that it is nearing the completion of agreements with two Egyptian firms to implement natural gas distribution projects in the industrial cities of Ma'an and Al Muwaqqar. These infrastructure developments will complement ongoing gas network expansions in Mafraq and Zarqa, directly addressing the need to reduce energy costs for Jordan’s industrial sector.

Paving the Way for Future Ventures

To ensure these goals translate into tangible outcomes, Egypt and Jordan have committed to establishing joint technical working groups. These teams will develop clear implementation mechanisms for the proposed infrastructure and investment partnerships. The ministers also explored emerging opportunities in green hydrogen and ammonia production. By transforming diplomatic ties into concrete commercial projects, Jordan and Egypt are setting a compelling precedent for robust Arab economic integration and sustainable industrial advancement.

The Ministry of Energy and Minerals has launched a public investment opportunity encompassing two highly anticipated limestone mining sites in Salalah.

The Sultanate of Oman is taking a decisive step towards bolstering its domestic construction industry and diversifying its economy.

The Ministry of Energy and Minerals has launched a public investment opportunity encompassing two highly anticipated limestone mining sites in Salalah. This strategic move invites qualified Omani companies to bid for the extraction projects, representing a core component of efforts to support the robust development of the nation's mining sector whilst strengthening local production of essential construction materials.

According to a recent ministry announcement, the application window for these locations remains open for three months, commencing on the 19th of July and concluding on the 18th of October 2026. Interested enterprises must submit proposals through the government’s Taqa digital platform. The opportunity explicitly covers two designated limestone mining sites situated within the Public Mining Area in Salalah, a region renowned for rich geological reserves.

Empowering Local Enterprises

A notable characteristic of this public tender is its strict exclusivity. The ministry has stated categorically that the bidding process is open solely to Omani companies and institutions. Furthermore, these entities must possess demonstrable, proven experience in managing mining projects and related operational activities.

This crucial requirement underscores the government's strategic focus on increasing local participation within the lucrative mining sector. By mandating a baseline of technical capability among successful bidders, the ministry ensures the nation’s natural resources are managed by competent domestic operators committed to long-term sustainable extraction.

Securing Domestic Supply Chains

Perhaps the most defining parameter of this new investment opportunity is the strict regulation regarding the destination of extracted minerals. Under the published terms, all limestone production from these two Salalah sites will be entirely restricted to domestic use, with exports strictly not permitted.

This condition is deliberately aimed at supporting the local building materials industry by guaranteeing a stable supply of raw materials for the domestic market. Limestone stands as one of Oman's most abundant mineral resources, serving as an indispensable raw material for cement, construction aggregates, and other building products. Driven by ongoing infrastructure projects, industrial developments, and rapid urban expansion across the Sultanate of Oman, domestic demand for high-quality construction materials is expected to remain exceptionally strong.

Fostering Fair Competition

To ensure equitable resource distribution, the Ministry of Energy and Minerals has implemented stringent regulatory measures regarding site allocation. While companies are encouraged to submit competitive bids for both mining locations, the ministry has firmly mandated that no single company will be awarded more than one site.

Crucially, this restriction also extends to companies owned by the same shareholders. If cross-ownership exceeds the threshold of 30 per cent in relation to the same site, the entities will be subject to the one-site limitation. This measure is intended to promote significantly wider participation, foster healthy competition within the local industry, and prevent the consolidation of essential resource rights into the hands of a few operators.

Advancing Oman Vision 2040

This mineral offering forms an integral part of Oman's broader macroeconomic strategy to develop its mining sector. Mining is identified as a priority industry under the Oman Vision 2040 framework, which seeks to rapidly diversify the national economy beyond hydrocarbons. To actualise this vision, Oman has steadily expanded investment opportunities across various mineral resources. This expansion is heavily supported by geological surveys, regulatory reforms, and efficient digital licensing services designed to attract private-sector investment.

The ministry has increasingly utilised competitive public tenders and digital platforms to allocate mining concessions. This approach achieves greater transparency and operational efficiency whilst encouraging responsible resource development. These proactive measures guarantee that Oman's natural wealth is harvested efficiently and managed in a way that provides maximum benefit to the national economy over the long term.

Interested organisations must act promptly, as applications are required to be submitted electronically via the Taqa e-mining platform before the application period expires. Successful bidders will be legally expected to develop the Salalah sites in strict accordance with technical and regulatory requirements, fulfilling their mandate of supplying limestone exclusively to the domestic market.

Global energy technology firm SLB has been awarded a landmark seven-year contract by the Kuwait Oil Company (KOC) under the ambitious Ahmadi Innovation Valley (AIV) initiative.

Global energy technology firm SLB has been awarded a landmark seven-year contract by the Kuwait Oil Company (KOC) under the ambitious Ahmadi Innovation Valley (AIV) initiative.

For decades, the global energy sector has faced a persistent hurdle: whilst cutting edge digital tools are abundant, seamlessly integrating them into harsh, real-world extraction environments remains a formidable challenge. Now, global energy technology firm SLB is poised to bridge this critical gap. In a major development for the Middle East’s upstream oil and gas sector, SLB has been awarded a landmark seven-year contract by the Kuwait Oil Company (KOC). Operating under the highly ambitious Ahmadi Innovation Valley (AIV) initiative, this partnership officially designates SLB as KOC’s very first contracted technology partner for its flagship innovation programme.

The heart of this agreement lies in a shared commitment to accelerating digital transformation across Kuwait's energy landscape. By focusing intensely on applied research, large-scale technology deployment, and advanced digital innovation programmes, both organisations are aligning their efforts with Kuwait’s overarching energy objectives. SLB will collaborate intimately with KOC experts to evaluate, test, and deploy cutting-edge technologies.

The scale of the undertaking is vast, encompassing nearly 100 distinct technology projects designed to tackle the pressing obstacles of modern hydrocarbon extraction. These high-priority projects span artificial intelligence (AI), industrial internet of things (IIoT) applications, complex production optimisation, and advanced reservoir technologies. The initiative will also prioritise proactive water management systems and crucial energy transition protocols aimed at lowering the environmental footprint of heavy operations.

A pivotal element of this seven-year contract is the rapid operationalisation of AI-enabled workflows. By marrying KOC’s deep operational expertise with SLB’s state-of-the-art digital tools, the partnership seeks to dramatically improve exploration accuracy and streamline demanding drilling operations. These integrated digital ecosystems will enhance continuous reservoir surveillance and allow teams to automate complex production adjustments informed by real-time telemetry data. As the energy sector pivots towards these data landscapes, modern operators must collaborate effortlessly on data-driven solutions to lower operational costs, maximise efficiency, and measurably reduce carbon intensity during routine extraction phases.

The strategic necessity of this collaboration extends far beyond mere hardware and software upgrades. Ahmad Jaber Al-Eidan, chief executive officer of Kuwait Oil Company, emphasised the strategic importance of the programme for the nation. "Ahmadi Innovation Valley represents an important step in advancing technology leadership across Kuwait's energy sector," he stated. "Through collaboration with leading technology partners, we are accelerating technology deployment, strengthening local capabilities and expanding knowledge transfer to support Kuwait's energy industry."

This dedication to knowledge transfer will play a pivotal role in nurturing local technical capabilities, thereby securing the long-term future of Kuwait’s energy workforce and ensuring the nation maintains a fierce competitive edge in an increasingly digitised global market.

SLB has announced concrete plans to establish a physical, dedicated Ahmadi Innovation Valley facility within Kuwait to facilitate this massive technological leap. Construction on this specialised innovation centre is expected to commence in 2026, with the facility officially opening its doors to researchers and engineers in 2028. Once fully operational, this centre will serve as a dynamic collaborative hub where technology providers, academic researchers, and front-line operational teams converge. It will furnish the necessary physical and digital infrastructure to scale emerging solutions from early pilot phases directly into full production environments, driving quantifiable improvements in process stability and asset longevity.

Olivier Le Peuch, chief executive officer of SLB, highlighted the core hurdle that the new initiative aims to overcome. "The energy industry has no shortage of technology. The challenge is deploying it at scale and turning innovation into operational impact," he noted. "Ahmadi Innovation Valley brings together technology providers, researchers and operational teams to accelerate the evaluation, deployment and scaling of new solutions across KOC's operations. We are proud to contribute our technology, domain expertise and global experience while helping strengthen local capabilities and support the next generation of Kuwaiti talent."

This landmark award signifies a major expansion of a deep-rooted relationship, building upon more than 85 years of continuous collaboration between SLB and KOC, and promising a profound modernisation of Kuwait’s upstream capabilities.