Ma’aden Extracts Lithium from Seawater, Explores Further Innovations
Saudi Arabian Mining Company (Ma'aden) has successfully extracted lithium from seawater, as reported by CEO Robert Wilt to Reuters on May 21. "We are actually producing lithium from seawater now," Wilt stated, though he noted that the project is currently at a pilot stage and not yet commercially viable.
In a separate initiative, Saudi Arabian Oil is also attempting to extract lithium from brine in its oilfields. Wilt mentioned ongoing discussions about a potential partnership between the two companies.
Lithium is a critical component for manufacturing batteries for electric vehicles, which aligns with Crown Prince Mohammed Bin Salman's Vision 2030 program. This initiative aims to diversify the kingdom's economy and reduce its dependence on oil.
Ma'aden did not immediately respond to requests for comment from S&P Global Commodity Insights.
Additionally, Wilt clarified that Manara Minerals Investment, a joint venture between Ma'aden and Saudi Arabia's Public Investment Fund, is not interested in acquiring Anglo American's diamond unit, De Beers. "The kingdom does not need diamonds for its downstream development," Wilt told Reuters, emphasizing that Manara's focus is on industrial metals that support downstream growth.
Anglo American is considering a potential sale or demerger of De Beers after rejecting takeover proposals from BHP Group. On April 3, Manara completed the acquisition of a 10% stake in Vale Base Metals for $2.5 billion.
