Saudi Arabia has unveiled a significant milestone in its economic diversification efforts, discovering lithium reserves within its oil fields near the sea.
The breakthrough, spearheaded by Saudi Aramco, represents a pivotal shift for the oil-dependent nation as it seeks to embrace sustainable energy opportunities.
Successful Pilot Project Extracts Lithium
Saudi Aramco, the state-owned petroleum and natural gas giant, successfully extracted lithium during a pilot project.
The deputy minister of mining affairs, Khalid bin Saleh Al-Mudaifer, announced plans to scale this initiative by launching a commercial pilot program focused on direct lithium mining.
Pioneering Technology from Local Innovators
The project will be led by Lithium Infinity, also known as Lihytech, a startup from King Abdullah University of Science and Technology.
Lihytech will collaborate with Saudi mining company Ma’aden and Aramco to develop continuous lithium extraction from brine runoff in oil fields.
Al-Mudaifer praised the university-developed technology as innovative and rapidly progressing.
Economic Potential Amid Rising Lithium Demand
Despite the higher cost of extracting lithium from brine compared to traditional methods, Al-Mudaifer expressed optimism about the project’s profitability.
Rising global lithium prices and the growing demand for the white gold make the initiative strategically valuable.
Lithium plays a critical role in manufacturing rechargeable batteries for electric vehicles (EVs), smartphones, and other electronics, all of which are in increasing demand as the world shifts away from fossil fuels.
Aligning with Vision 2030 Goals
The initiative supports Saudi Arabia’s Vision 2030 objectives. These objectives aim to reduce dependence on oil. They also aim to position the kingdom as a global hub for EV production.
Crown Prince Mohammed bin Salman has championed efforts to identify alternative revenue streams. Lithium mining aligns with these ambitions.
Global Energy Companies Join the Race
This move by Saudi Arabia mirrors efforts by other major oil companies. Exxon Mobil and Occidental Petroleum are also exploring advanced lithium extraction technologies.
As reported by dnaindia.com, the global transition to renewable energy is accelerating. Saudi Arabia’s investment in lithium extraction could secure a prominent role in the sustainable energy landscape.
