cc.web.local

twitteryou tubefacebookfacebookacp

Mining

Ivanhoe, QIA deepen minerals alliance

Ivanhoe Mines has formalised a new partnership framework with Qatar Investment Authority (QIA) following the sovereign fund’s recent US$500mn strategic investment in the company.

The MoU was concluded during the visit of His Highness The Amir of Qatar, Sheikh Tamim bin Hamad Al-Thani, to the Democratic Republic of the Congo (DRC). During his trip, the Amir held discussions with DRC President Félix Tshisekedi on strengthening ties between the two nations, creating the backdrop for the Ivanhoe–QIA agreement.

Under the terms of the MoU, Ivanhoe Mines and QIA have established a broad framework intended to support the discovery, responsible development and long-term supply of critical minerals required for global decarbonisation and next-generation technologies.

Commenting on the agreement, Robert Friedland said, “The signing of the MoU, together with the strategic investment by the Qatar Investment Authority, is a strong vote of confidence in Ivanhoe Mines and our mission to supply the strategic metals that power global electrification and the rise of AI and large-scale datacentres. We are excited to build this long-term, world-class alliance as we unlock new frontiers in our hunt for the next generation of great discoveries, which we will sustainably mine together.”

QIA CEO Mohammed Saif Al-Sowaidi added, “This MoU is a testament of QIA’s commitment to building strategic partnerships with leading suppliers of critical minerals, supporting global efforts to develop new energy infrastructure and power advanced technologies. We are delighted to be working with Ivanhoe Mines and look forward to further growing our partnership, aimed at generating long-term, sustainable prosperity.”

The cooperation framework specifically recognises QIA’s support for Ivanhoe’s ongoing exploration and development pipeline, including the company’s substantial activities at the Western Forelands project in the DRC, where work continues to advance the Makoko District and other promising targets.

Both parties also intend to explore additional joint opportunities across regions of shared interest, covering mining ventures at various stages of development. Potential areas of collaboration include investment or financing agreements, access to QIA’s network of financial institutions for favourable funding of critical minerals projects, and joint consideration of future strategic mergers and acquisitions.

The MoU further sets out avenues for cooperation on enabling infrastructure—such as logistics, energy and water systems—as well as possible downstream initiatives, including smelting and refining capacity for critical minerals in Africa and other global jurisdictions.

At The Mining Show 2025 held in Dubai from November 17-18, global leaders and industry innovators converged to chart the future of mining at a time of unprecedented energy transition and technological upheaval.

In a keynote that set the tone for the event, H.E. Saif Ghubash Almarri, representing the UAE, painted a compelling picture of a world in flux and positioned the nation at the forefront of strategic change.

Almarri articulated the sweeping transformations at play, noting, “Today, the world is undergoing a profound transformation. This has become the backbone of both energy transition and digital transit—without electricity, there is no mobility, no AI, and no resilient digital economy.” Drawing on International Energy Agency data, he projected that demand for key minerals will “increase up to 500% by 2050,” signifying not mere “small adjustments” but seismic shifts in supply chains and geopolitical relations.

To meet these challenges, Almarri highlighted the UAE’s robust, multi-pronged approach. Major initiatives such as the National 3D Geological Model and the Energy and Infrastructure National Digital Platform have been launched to strengthen supply chain resilience, expedite exploration, and boost efficiency.

He emphasised that the UAE is not just adapting, but actively shaping the industry’s evolution, citing expanded investments in aluminum, copper, nickel, and lithium, and a firm commitment to low-carbon extraction and digital traceability. “The future will belong to those who prepare with clarity, ambition and action. The UAE’s message is clear: we are prepared. We are confident,” Almarri asserted.

Safety, innovation, and environmental stewardship were then championed by Abdul Rahman Al Mansoori, who underscored the dual challenges of rapid growth and unique regional conditions. He pointed to initiatives seeking to “reduce the amount of glass, one explosive and above the road,” making transport safer and harmonising skills and standards across the sector. Al Mansoori noted, “We see great opportunity in AI and automation. These tools can help prevent accidents and grow safety and increase productivity.”

From Saudi Arabia, Hassan M.H. Almarzouki detailed extraordinary growth in the Kingdom’s mining sector, with exploration spending soaring from $5 million in 2020 to US$280mn in 2024. He credited a strategic overhaul and new mining laws for this acceleration, and called on the global industry: “We are building a world class, sustainable mining industry that is open for business and drives partnership opportunity.”

As international stakeholders look toward a future defined by resilience, digitisation, and sustainability, The Mining Show 2025 illuminated both the scale of change and the spirit of collaboration needed to harness it.

 

Maaden has awarded a major EPCM contract to Bechtel for its Ar Rjum gold mine.

This follows Maaden’s Final Investment Decision (FID) in August 2025 as part of its plan to double gold production by 2030.

Under the US$104mn agreement, Bechtel will provide EPCM services for constructing the mine and processing facilities.

The multi-year contract supports the development of Ar Rjum, located in the Makkah Region, roughly 200 km northeast of Ta’if.

The mine is projected to yield 3.6 million ounces of gold over a 12-year life-of-mine period, featuring an open-pit operation and a processing facility handling eight million tons of ore annually.

Bob Wilt, CEO of Maaden, said, “The Ar Rjum Project is a major milestone in Maaden’s journey to strengthen our portfolio. We have ambitious targets for our gold business and Ar Rjum will be a major component of our ability to double production, as well as to grow at pace and continue to build our pipeline of talent to deliver our strategy.”

Ailie MacAdam, president, Bechtel Mining & Metals, added, “In partnership with Maaden and leveraging Bechtel’s global supply chain of more than 7,000 suppliers along with our strong local partnerships, we’re proud to support a project that advances long-term regional growth and prosperity.”

The successful bidders include four consortia

Saudi Arabia has awarded exploration licences for 25 sites in the Nabitah–Ad Duwayhi belt, located in the Makkah region, to nine local and international companies and consortia. The winners have committed more than SAR156mn (US$42mn) in exploration spending, according to the Ministry of Industry and Mineral Resources.

The successful bidders include four consortia: Ma’aden–Hancock Prospecting, Ajlan and Bros Mining–Shandong Gold Group, Technology Experts–Andiamo Exploration, and McEwen–Sumo Holding. In addition, five standalone companies secured licences: Al-Eitilaf Al Mumayaz for Mining Company, Saudi Gold Refinery, Batin Al-Ard for Gold, Aurum Global Group, and Almasar Minerals.

The ministry confirmed that competition for the final site, ND26, was suspended after exploration spending bids exceeded technical evaluations and reached levels deemed commercially unfeasible. The site will be re-evaluated according to the approved timeline under the Mining Investment Law.

Further bidding rounds are planned, with competition for an additional 10 sites in the same belt resuming from 16–18 September. Results will be announced after all regulatory procedures are complete. Another 162 mining sites in the Al-Naqrah and Al-Sukhaybirah Safra belts in the Madinah region will be offered from 28 September. These form part of the ministry’s target to make over 50,000 sq km of mineral-rich belts available by 2025.

Saudi Arabia’s mineral resources are estimated at more than SAR9.4tn, underscoring the sector’s role as a cornerstone of Vision 2030. The Al-Baha region alone is valued at nearly SAR285.4bn (US$76bn) and is rich in resources including gold, silver, copper, zinc, lead, feldspar, marble, and pozzolan. The region also contains mineralised belts for gold, copper, and zinc, as well as 19 mining complexes dedicated to building materials.

The Kingdom views mining as a key driver of economic diversification and aims to position the sector as the “third pillar” of its economy alongside oil and petrochemicals. By accelerating exploration and development of its mineral wealth, Saudi Arabia is seeking to enhance its global competitiveness in mining and attract further international investment.

 

The agreement aligns with Saudi Arabia’s Vision 2030 strategy. (Image source: Maaden)

Maaden Bauxite and Alumina Company (MBAC), a subsidiary of Saudi Arabian Mining Company (Maaden), has signed a Power Purchase Agreement (PPA) with Emerge, the joint venture between Masdar and EDF.

The deal will see the development of a solar power facility to supply clean energy to the Al Baitha Bauxite Mine for the next 30 years.

The project will integrate an 8 MWp ground-mounted solar photovoltaic array with a 30 MWh battery energy storage system, ensuring stable, round-the-clock power supply.

Expected to generate around 17,300 MWh of electricity annually, the facility will cut approximately 13,800 tonnes of CO2 emissions each year, comparable to removing over 3,000 cars from the road.

With the new system, the Al Baitha Bauxite Mine will be able to operate almost entirely on renewable energy, making it one of the region’s first large-scale mining operations powered predominantly by clean sources.

The agreement aligns with Saudi Arabia’s Vision 2030 strategy by advancing the Kingdom’s energy transition, lowering industrial carbon emissions, and supporting sustainable economic growth.

Emerge will deliver the project on a full turnkey basis, overseeing financing, design, procurement, construction, operations, and maintenance.

The initiative underscores Maaden’s growing role as one of the world’s fastest-expanding mining companies while positioning Saudi Arabia as a leader in sustainable mining practices.

Ali Al-Qahtani, executive vice-president, of Maaden’s aluminum business, said, “This partnership supports our ambitions to drive renewable energy across our operations, as well as reinforcing our committment to advancing sustainable solutions that benefit both our businesses and the communities we serve. We look forward to working with Emerge to deliver this integral pillar of our operations.”

Abdulaziz Alobaidli, chairman of Emerge and chief operating officer at Masdar, commented, “Emerge offers businesses a seamless, cost-effective pathway to transform to renewable energy. This partnership demonstrates the value Emerge brings to industries looking to decarbonise and optimise their energy usage.”

Omar Aldaweesh, CEO KSA of EDF Group and EDF power solutions, and Emerge board member, said, “Emerge’s partnership with Maaden marks a bold step in decarbonising the Kingdom’s mining sector. By delivering a tailored solar power plant and battery storage solution, we are paving the way for a more resilient, low-carbon future while proving that industrial ambition and environmental responsibility can go hand in hand.”

 

More Articles …