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Sheryll Mericido

PIF and Ma'aden Partner for Strategic Mineral Investments

The Public Investment Fund (PIF) and the Saudi Arabian Mining Company (Ma'aden) have unveiled a significant new partnership during the Future Minerals Forum 2023. In a groundbreaking move, a newly established company is set to embark on a series of substantial international investments in upstream strategic mineral opportunities. This strategic endeavor aims to secure value chains that are crucial for both industrial development and the ongoing energy transition within the Kingdom.

In a groundbreaking move, Ma'aden, a prominent mining company, has recently forged strategic alliances with two industry giants, Ivanhoe Electric (IE) and Barrick Gold Corporation (Barrick). This collaboration aims to tap into the vast potential of strategic mineral resources within the Kingdom, propelling the sector's growth on a global scale. The agreements are set to have a significant impact on Ma'aden's exploration and development portfolio as well as its global presence. This move will not only expand Ma'aden's international reach but also introduce new skills and technology to the Saudi Arabian sector.

In a move to bolster its mining operations, Ma'aden, the renowned mining company, has recently inked over 20 agreements and memoranda of understanding (MOUs) with esteemed global organizations. These strategic partnerships aim to enhance Ma'aden's exploration and technical capabilities, solidifying its position as a key player in the industry.

In a bid to enhance exploration capability, significant strides are being made through the utilization of cutting-edge technology and unparalleled expertise.

In a recent development, Ma'aden, the renowned mining company, has made a significant announcement regarding its collaboration with Ivanhoe Electric. This strategic agreement is set to provide Ma'aden with a notable boost in its global presence while also granting the company access to state-of-the-art exploration technology.


IE, a technology and mineral exploration company listed on the NYSE, is making waves in the industry with its unique blend of advanced mineral exploration technologies, renewable energy storage solutions, and electric metals projects. In a groundbreaking deal, Ma'aden, the Saudi Arabian mining company, has entered into an agreement with IE, which will involve Ma'aden acquiring new shares in IE. As a result of this transaction, Ma'aden will secure a significant 9.9% equity interest in IE, amounting to a substantial investment of $126 million. This strategic move is set to have far-reaching implications for both companies involved. In a significant development, Ma'aden, a prominent mining company, has secured the privilege to nominate an independent director to the esteemed Ivanhoe Electric Board of Directors. As part of this agreement, Ma'aden will also be granted approximately 10.2 million fresh common shares in IE, each valued at an impressive price of US$12.38 per share. This strategic move is poised to have a notable impact on both companies involved as they forge ahead in their respective industries.


In a significant development, Ma'aden and IE have reached an agreement that includes the establishment of a joint venture with a 50:50 partnership. This collaboration aims to delve into the exploration of valuable resources such as copper, gold, nickel, and silver within the borders of Saudi Arabia. Ma'aden and Ivanhoe have announced their plans to embark on an extensive exploration endeavor, covering an impressive area of approximately 48,500 square kilometers. These selected license areas have been carefully chosen due to their exceptional potential, promising exciting prospects for both companies. In an exciting development, Ma'aden, a prominent mining company, has announced a joint venture that will grant them exclusive access to IE's cutting-edge TyphoonTM technology. This groundbreaking technology utilizes powerful transmitters to conduct geophysical surveys, enabling the detection of sulfide minerals that may contain valuable resources such as copper, nickel, gold, and silver. Ma'aden is set to greatly benefit from the implementation of this initiative, as it will expedite, mitigate risks, and propel exploration and development endeavors. This, in turn, will enable Ma'aden to effectively capitalize on its exploration assets and unlock their true value.

Ma'aden's recent investment marks a momentous milestone as it establishes a strategic foothold in a prominent global mining enterprise equipped with exclusive technology. This move not only enhances Ma'aden's international presence but also expands its reach into the realm of vital minerals.


In a recent statement, Robert Wilt, the CEO of Ma'aden, expressed his views on the company's strategic investment in Ivanhoe Electric. Wilt emphasized the significance of this move, stating that it marks a crucial milestone in Ma'aden's quest to establish itself as a prominent provider of strategic minerals. He further highlighted the role these minerals will play in driving global economic growth in the next decade. Saudi Arabia, through its partnership with Ma'aden, is making a significant and invaluable contribution to the rapid growth of emerging industries worldwide, which are distinguished by their remarkable technological advancements.

In a bid to unlock the untapped potential of its highly prospective copper licenses, the company is strategically positioning itself for future success. With a keen focus on maximizing value, the company is diligently exploring opportunities to harness the immense potential of these licenses. By leveraging its expertise and resources, the company aims to capitalize on the promising copper reserves and pave

In a move to further solidify its position in the mining industry, Barrick Gold Corporation, a renowned global player in the discovery and development of expansive gold and copper mines, has announced its plans to enhance its partnership with Ma’aden. This strategic collaboration will be facilitated through the establishment of two new joint venture agreements aimed at exploring and developing the Jabal Sayid South and Umm Ad Damar license areas. In a strategic move, the newly acquired license areas have been strategically positioned in close proximity to Jabal Sayid and its accompanying mine infrastructure. This calculated decision by the partners is set to unlock a multitude of synergistic opportunities between the three areas.


In a move that is set to bolster Ma'aden's copper production and propel its strategic efforts towards job creation and economic development in remote regions of the nation, a groundbreaking agreement has been reached.

Saudi Arabia's mining industry is set to undergo a transformative overhaul as a series of agreements have been forged to enhance its capabilities. These agreements, forming a pipeline of promising developments, aim to propel the sector to new heights.

Ma'aden, the renowned mining company, has made significant strides in its pursuit of technological advancement and innovation. With a remarkable portfolio of over 20 agreements and memoranda of understanding, Ma'aden has successfully partnered with esteemed market leaders. These collaborations aim to seamlessly incorporate cutting-edge technologies into the company's exploration and mining operations. In a promising development, the implementation of these measures is expected to yield significant reductions in energy consumption while simultaneously enhancing water and environmental management. Furthermore, this initiative is set to propel the advancement of decarbonization efforts, ultimately leading to improved health and safety conditions. Companies such as Nokia, Shell, Bechtel, and Eurasian Resources Group (ERG) S.à.r.l. are among the notable partners in this venture.


In a recent statement, Robert Wilt, the CEO of Ma'aden, expressed his enthusiasm for the company's efforts to bring in new partners and strengthen the commitment of existing ones. Wilt emphasized that this strategic move will not only introduce cutting-edge technologies into their operations but also diversify their upstream product mix and expedite the development of their exploration portfolio. In a move that promises to revolutionize the landscape of Saudi Arabia, an initiative has been unveiled that aims to foster knowledge and technology transfer. This groundbreaking endeavor is set to not only enhance the talent pool within the country but also unlock the untapped potential of the Kingdom's vast mineral resources.



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