As stated in a collaborative press announcement, Maaden will possess 51% of the new partnership, whereas Aramco will retain the remaining 49%. The partnership will search for minerals in the designated "Area 4" of the Arabian Plate.
The region covers about 182,000 square kilometers, which is nearly 10% of the nation's entire area.
The main goal of the joint venture is copper exploration and production. The firms project that copper represents more than 20% of the $1.2 trillion worldwide metals market.
The partnership will additionally search for deposits of zinc, lead, and rare earth metals.
source: reuters.com
The region covers about 182,000 square kilometers, which is nearly 10% of the nation's entire area.
The main goal of the joint venture is copper exploration and production. The firms project that copper represents more than 20% of the $1.2 trillion worldwide metals market.
The partnership will additionally search for deposits of zinc, lead, and rare earth metals.
source: reuters.com
