Oil Giant Saudi Arabia Makes Big Plans for the Next Era of Batteries
- Maaden sees big investments in next 10-20 years, says CEO
- Company yet to decide if it will pay a dividend for 2021
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Saudi Arabia’s state miner said it would start to invest heavily in battery metals, as prices soar with the uptake of electric vehicles and the growth of wind and solar power.
“In the next 10 to 20 years we are going to spend huge amount of money looking for those metals in Saudi Arabia,” Abdulaziz Al Harbi, chief executive officer of Maaden, said to Bloomberg Television in Riyadh, when asked about nickel and lithium.