Aramco and Maaden Join Forces to Explore Saudi Arabia’s Minerals

Aramco and Maaden have signed a shareholders’ agreement to establish a joint venture (JV) aimed at expanding mineral exploration and hard-rock mining opportunities in Saudi Arabia. The partnership will combine Aramco’s extensive geological knowledge and technological capabilities with Maaden’s mining and exploration expertise to identify minerals considered essential for the global energy transition.

Under the proposed structure, Maaden would hold a 51% stake in the JV, while Aramco would own the remaining 49%. The venture would concentrate its exploration activities in Zone-4, also known as the Transition Zone, located within the Arabian Platform. The targeted area covers around 182,000 square kilometers, equivalent to nearly 10% of Saudi Arabia’s total landmass. The zone extends along a roughly 100-kilometer-wide area parallel to the Arabian Shield.

The partnership builds on plans initially announced in January 2025 and represents a significant step toward diversifying Saudi Arabia’s mineral resources. Aramco intends to contribute decades of geological and geophysical data accumulated through its operations in the Kingdom. The company also plans to utilize high-performance computing, artificial intelligence and advanced analytical tools to identify areas with strong mineralization potential.

Maaden will contribute its experience in mineral exploration, resource development and mining operations. The company has already been conducting extensive exploration activities across the Arabian Shield as part of Saudi Arabia’s efforts to expand its mining sector. The new JV would allow those capabilities to be extended into a broader geological area.

Copper will be a key target because of its importance in electric vehicles, electricity grids, renewable energy infrastructure and energy-storage systems. Demand for copper is expected to increase as countries accelerate electrification and energy-transition investments. In addition to copper, the JV will investigate potential deposits of zinc, lead and rare earth elements, all of which have applications across advanced manufacturing, clean energy and other future industries.

The venture plans to use AI-driven algorithms and high-performance computing to analyze geological information, prioritize prospective areas and accelerate the process from regional exploration to specific drilling targets and potential discoveries. This technology-led approach could reduce exploration time and improve the efficiency of mineral discovery.

The agreement could strengthen Saudi Arabia’s position in the global minerals supply chain while supporting the Kingdom’s broader economic diversification strategy. However, the JV’s formation remains subject to required corporate and regulatory approvals, including antitrust clearance and other conditions precedent.

Impact on Product and Chemical Commodity Prices

The JV is unlikely to create an immediate impact on chemical commodity prices because commercial mineral production remains several years away and the agreement still requires regulatory approvals. However, successful discoveries could strengthen Saudi Arabia’s domestic supply of copper, zinc, lead and rare earth elements, supporting downstream metals, mining chemicals and industrial processing. Over the longer term, increased copper availability could ease supply pressure and moderate prices for copper-related materials. Conversely, stronger investment in mining and energy-transition infrastructure could increase demand for sulfuric acid, explosives-related industrial chemicals, flotation reagents, solvents and specialty chemicals used in mineral processing, potentially providing upward price support for these commodities tracked by ChemAnalyst.