Saudi Arabia seeks to invest in lithium, copper with China mining firms

Alkhorayef's meeting with Chinese mining companies

Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef discussed on Sept. 7 the means to enhance cooperation in the mining sector with Chinese companies.

The Kingdom seeks to explore opportunities for joint investment in producing and processing lithium used in electric vehicle (EV) batteries, in addition to copper refining and processing, the Saudi Press Agency reported.

Alkhorayef added that Saudi Arabia aims to become a global hub for EV production, targeting the development of EV industry to produce 500,000 EVs annually by 2030.

This goal is part of the Kingdom's commitment to localize the entire value chain, develop the EV infrastructure, and help the country become a hub for exporting such vehicles.