Saudi Arabia Secures USD 9 Billion in Mining Deals From China & India
The Kingdom is drawing Chinese and Indian investors to tap USD 2.5 trillion in minerals, with deals like Vedanta’s USD 2 billion copper project.
China and India are tapping into the Kingdom’s untapped mineral resources, which the Saudi government estimates to be worth USD 2.5 trillion.
In Riyadh, nine mining and metals deals worth over USD 9.32 billion were recently announced. Among the largest agreements was a USD 2 billion partnership with India’s Vedanta Resources for copper mining operations, alongside a USD 1.6 billion deal with China’s Zijin Mining Group, focused primarily on zinc extraction.
The Kingdom’s mineral wealth includes critical resources needed for the global energy transition, such as copper, bauxite, gold and phosphate. These metals are essential components for the manufacturing of electric vehicles, solar panels, and other green technologies.
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