PIF is strategically investing in mining operations within Saudi Arabia, aiming to position the country as a leader in supplying critical minerals for the global clean energy transition.

Target Information

The Public Investment Fund (PIF) of Saudi Arabia is making significant strides in the minerals and mining sector, aligning itself with global energy transition demands. By investing in mining operations and adopting advanced technologies, PIF aims to position Saudi Arabia as a central player in the production of crucial minerals such as copper, lithium, and cobalt, which are essential for clean energy technologies.

PIF's continued partnership with Ma’aden, a leading mining firm, facilitates ongoing exploration efforts within the Arabian Shield area to uncover extensive mineral resources. Notably, Ma’aden has secured a 9.9% stake in Ivanhoe Electric to expedite the exploration of various strategic minerals across approximately 48,500 square kilometers of land, reflecting the kingdom's ambition to strengthen its mining capabilities and contribute to global supply chains.

Industry Overview

The global demand for minerals and metals crucial for clean energy technologies is rapidly increasing, as evidenced by the International Energy Agency's projections. By 2040, production of critical minerals needs to surge up to six-fold to meet the stipulati