Aramco and Maaden Form Joint Venture to Expand Saudi Arabia's Mining Ambitions

Aramco, Saudi Arabia's state-owned oil giant, has partnered with Maaden, another Saudi company, to expand their mining collaboration. The two companies have signed a shareholders' agreement to establish a joint venture focused on expanding mineral exploration and hard-rock mining prospects.

The JV will explore Zone-4, which covers around 182k sq km, roughly 10% of Saudi Arabia's landmass, across a 100-km-wide corridor running parallel to the Arabian Shield. The partnership combines Aramco's geological and subsurface data with Maaden's exploration and mining expertise.

The JV will use this data alongside AI, advanced computational algorithms, and high-performance computing to identify areas with the highest potential for commercially viable mineral deposits. This could potentially cut the time and cost involved in moving from regional exploration to target identification.

According to S&P Global Energy's Kevin Murphy, 'We have been watching a rapid increase in exploration within Saudi Arabia over the past couple of years.' The number of active exploration companies rose from six in 2020 to 226 in 2024, and the number of valid mining licenses reached over 2.9k in 2025.

Copper is considered a critical mineral for power grids, renewable energy, and electric vehicles, creating an opportunity for Saudi Arabia to use domestic resources as inputs for industries such as cables and electrical equipment.