Riyadh, August (پاکستان پوائنٹ نیوز 30 أغسطس 2025ء) The official visit of Minister of Industry and Mineral Resources Bandar Alkhorayef to the United States, which concluded today, focused on developing strategic partnerships for the transfer of advanced technologies in mineral extraction and processing. He met with several leading lithium producers and technology innovators to discuss mutual opportunities in critical minerals essential for the energy transition, EV battery production, and enabling the Kingdom's industrial transformation.
The minister's discussions with Lilac Solutions centered on advanced lithium extraction technologies, while his meeting with Albemarle Corporation focused on developing lithium hydroxide conversion processes for battery production and transferring the latest advancements in lithium extraction technologies.
Lithium is a Primary driver for achieving the Kingdom's target of producing 300,000 EVs annually by 2030. In 2024, the Kingdom reached a milestone by extracting lithium from oilfield brine runoff, a new and sustainable source. Research at King Abdullah University of Science and Technology has also uncovered innovative methods for extracting lithium from seawater, further strengthening the Kingdom's ability to meet the growing needs of the EV sector.
Global demand for lithium-ion batteries is expected to increase fivefold, reaching a production capacity of 5,500 gigawatt-hours by 2030, driven by the rapid growth of the EV industry and energy storage solutions.
The Kingdom's comprehensive mining strategy outlines a roadmap for transforming the sector into a key pillar of economic diversification, aiming to increase its contribution to GDP to $64 billion by 2030. With mineral wealth estimated at $2.5 trillion, the Kingdom is working to establish itself as a global supplier of critical minerals, while also developing related downstream industries, such as EVs, aerospace, and advanced technologies.
With its vast mineral wealth, technological innovations, and growing international partnerships, the Kingdom is presenting a global model of how natural resources and vital minerals, including lithium, can be transformed into a key driver of industrial growth and a strong enabler of sustainable energy.
