Saudi marketUpdated November 3

Aramco and Maaden sign minerals JV agreement

Aramco and Maaden signed a shareholders’ agreement in Dammam on Aug. 18, 2026, to establish a joint venture for mineral exploration and hard-rock mining in Saudi Arabia, the Saudi Press Agency reported. The planned search will focus on copper and other minerals important to the energy transition. It will bring Aramco’s upstream expertise together with Maaden’s mining and exploration capabilities. The venture is expected to be owned 51% by Maaden and 49% by Aramco. Its proposed exploration area is Zone 4, known as the Transition Zone, within the Arabian Platform. Saudi Gazette reported that the area covers about 182,000 square kilometers, nearly 10% of the Kingdom’s land. The newspaper described the venture as a significant new opportunity for mineral discoveries in Saudi Arabia.

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Coverage started November 3