Aramco and Maaden signed a shareholders’ agreement on August 18, 2026 to establish a Saudi mineral exploration venture. The proposed ownership is 51% Maaden and 49% Aramco.
Exploration would focus on copper and other energy-transition minerals across approximately 182,000 square kilometres. The agreement’s effectiveness and the venture’s incorporation require corporate and regulatory approvals. The announcement does not establish discovery of an economically recoverable mineral reserve.
In an IEA scenario, electricity could cost-effectively supply 33 percent of final energy use by 2035; projected import savings are not realized outcomes.
The utility’s long-term plan projects lower emissions despite rising electricity demand; its solar, battery and reverse-osmosis targets are not completed outcomes.
Emirates News Agency (WAM), citing Emirates Water and Electricity Company (EWEC)4 min read
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