Aramco's Lithium Extraction Ambitions

Aramco is exploring lithium extraction in collaboration with KAUST. The project is seen as promising but isn't yet commercially viable, according to Saudi Arabia's mining minister.

Saudi Arabian state oil giant Aramco is venturing into lithium extraction, marking a significant step towards diversifying its portfolio beyond oil. The project's potential has been noted by industry experts, although it is not yet considered commercially feasible.

The initiative is in partnership with the King Abdullah University for Science and Technology (KAUST), reflecting a commitment to innovation and sustainability. According to Bandar Alkhorayef, Saudi Arabia's mining minister, the collaboration aims to propel the kingdom toward a more diversified economy.

This pivot underscores Saudi Arabia's broader strategy to invest in emerging sectors in response to fluctuating oil markets. The move is part of a larger vision to reduce reliance on oil, embracing future energy solutions.

(With inputs from agencies.)