Saudi Aramco plans to boost investments in lithium production, as Saudi Arabia aims to develop its own supply chain for the metal.

The Saudi state giant is expected to announce plans to boost investments in lithium as part of broader moves to become a mining hub and diversify from oil, the FT reported

Saudi Arabia’s main oil and mining companies are forming a joint venture to produce lithium, a key metal for the energy transition, as the kingdom pursues a bigger role in mining.

Saudi Aramco, the world’s largest oil company, is to expand its investments in lithium production in the race to build a supply chain for the metal vital for batteries to power electric cars. China controls about two-thirds of the market in lithium processing,

The Saudi state giant is expected to soon announce its plans to boost investments in lithium development, as part of broader moves to become a mining hub and diversify from oil, news reports have sugg