Saudi Arabia is a step closer to becoming part of the global battery industry after deals to develop lithium processing and anode material projects in the country. The deals could make Saudi Arabia’s lithium ion supply chain the most developed in the Middle East, which right now has virtually no battery material capacity.
In 2021, Saudi Arabia became the first Middle Eastern country to establish pipeline capacity in lithium processing by signing an agreement with EV Metals Groups to build a battery chemicals complex in Yanbu Industrial City. The site could produce 18,050 tonnes of lithium hydroxide by 2030, according to Benchmark’s Lithium Forecast.
Khalid Al-Mudaifer, the vice-minister for mining, said Saudi Arabia is targeting lithium production sufficient to make one million batteries a year. (Reuters) Saudi Arabia is exploring projects that can produce lithium for batteries in an effort to ramp up production in the Middle Eastern oil exporter.
This month Australian startup European Lithium and Saudi Arabia’s Obeikan Investment Group announced an agreement to create a joint venture to build and operate a lithium hydroxide refinery in Saudi Arabia. European Lithium said the Saudi processing plant will process spodumene from a mine that the company is developing in Wolfsberg, Austria.
Nickel and graphite, which can be synthesized in the oil-refining process, can also be used in battery technologies. Saudi Arabia is developing new industries like technology and tourism and seeking to use more oil for chemicals production.
Lithium processing This month Australian startup European Lithium and Saudi Arabia’s Obeikan Investment Group announced an agreement to create a joint venture to build and operate a lithium hydroxide refinery in Saudi Arabia.
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