Saudi Arabia Unveils $100 Billion Mining Investment To Boost Critical Mineral Production

by THEFUTURE.TEAM

January 16, 2025

At the Future Minerals Forum in Riyadh, Saudi Arabia unveiled an ambitious $100 billion investment aimed at transforming the global mining industry. The kingdom is positioning itself as a key player in the supply of critical minerals essential for energy transition technologies, including lithium, copper, gold, and rare earth elements. This strategic push is part of Saudi Arabia’s broader plan to diversify its economy and reduce dependence on oil.

Khalid al-Mudaifer, Deputy Minister of Mining Affairs, revealed that $20 billion of the planned investment is already advancing through its final engineering phase or is under construction. While details on the full scope of the project remain limited, the focus is on boosting exploration for key minerals such as lithium, copper, zinc, and nickel.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Earlier in 2024, the Ministry of Industry and Mineral Resources updated its estimate of the value of untapped mineral resources, increasing the figure from $1.3 trillion to $2.5 trillion. This upward revision is largely driven by recent discoveries of these critical resources. In conjunction with this, the Saudi government launched a $182 million incentive program to further encourage mineral exploration and development.

Strategic Partnerships And New Discoveries

Saudi oil giant Aramco has partnered with state-owned mining company Ma’aden to jointly explore and extract minerals essential for the energy transition. Aramco’s collaboration extends to lithium exploration, with the company identifying promising lithium concentrations in its operating regions.

Energy Minister Prince Abdulaziz bin Salman highlighted that Aramco’s involvement in mining, particularly lithium extraction, marks a departure from previous assumptions about the company’s focus. “Aramco can be a diversified company, and its mandate has no limits,” said bin Salman, underscoring the kingdom’s forward-thinking approach.

A key player in this strategy is Manara, a joint venture between Ma’aden and the Public Investment Fund (PIF), designed to invest in mining assets globally and strengthen sustainable supply chains. The venture aims to diversify Saudi Arabia’s mining operations and ensure access to the resources necessary for a successful energy transition.

Ambitious Timeline And Market Impact

The kingdom anticipates lithium production could commence as soon as 2027, with collaborations expected to accelerate the process. Lithium, a crucial component for electric vehicle batteries, is in high demand, and Saudi Arabia aims to become a central hub for processing critical minerals, competing with China, which currently dominates two-thirds of the lithium processing market.

In a breakthrough, Saudi Arabia recently confirmed the successful extraction of lithium from brine samples in Aramco’s oil fields. A joint venture with Ma’aden and local lithium extraction startup, Lithium Infinity, is now working on launching a commercial pilot program for direct extraction.

This bold move signals Saudi Arabia’s determination to play a pivotal role in the future of global mining, tapping into resources that will fuel both its economy and the world’s transition to cleaner energy technologies.

The Future Forbes Realty Global Properties

Strained Household Finances: Eurostat Data Reveals Persistent Payment Delays Across Europe and in Cyprus

by THEFUTURE.TEAM

November 22, 2025

Improved Financial Resilience Amid Ongoing Strains

Over the past decade, Cypriot households have significantly increased their ability to manage debts—not only bank loans but also rent and utility bills. However, recent Eurostat data indicates that Cyprus continues to lag behind the European average when it comes to covering financial obligations on time.

Household Coping Strategies and the Limits of Payment Flexibility

While many families are managing their fixed expenses with relative ease, one in three Cypriots struggles to cover unexpected costs. This delicate balancing act highlights how routine payments such as mortgage installments, rent, and utility bills are met, but precariously so, with little room for unplanned financial shocks.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Breaking Down Payment Delays Across the European Union

Eurostat reports that nearly 9.2% of the EU population experienced delays with their housing loans, rent, utility bills, or installment payments in 2024. The situation is more acute among vulnerable groups: 17.2% of individuals in single-parent households with dependent children and 16.6% in households with two adults managing three or more dependents faced payment delays. In every EU nation, single-parent households exhibited higher delay rates compared to the overall population.

Cyprus in the Crosshairs: High Rates of Financial Delays

Although Cyprus recorded a notable 19.1 percentage point improvement from 2015 to 2024 in delays related to mortgages, rent, and utility bills, the island nation still ranks among the top five countries with the highest delay rates. As of 2024, 12.5% of the Cypriot population had outstanding housing loans or rent and overdue utility bills. In contrast, Greece tops the list with 42.8%, followed by Bulgaria (18.7%), Romania (15.3%), Spain (14.2%), and other EU members. Notably, 19 out of 27 EU countries reported delay rates below 10%, with Czech Republic (3.4%) and Netherlands (3.9%) leading the pack.

Selective Improvements and Emerging Concerns

Between 2015 and 2024, the overall EU population saw a 2.6 percentage point decline in payment delays. Despite this, certain countries experienced increases: Luxembourg (+3.3 percentage points), Spain (+2.5 percentage points), and Germany (+2.0 percentage points) saw a rise in payment delays, reflecting underlying economic pressures that continue to challenge financial stability.

Economic Insecurity and the Unprepared for Emergencies

Another critical indicator explored by Eurostat is the prevalence of economic insecurity—the proportion of the population unable to handle unexpected financial expenses. In 2024, 30% of the EU population reported being unable to cover unforeseen costs, a modest improvement of 1.2 percentage points from 2023 and a significant 7.4 percentage point drop compared to a decade ago. In Cyprus, while 34.8% still report difficulty handling emergencies, this marks a drastic improvement from 2015, when the figure stood at 60.5%.

A Broader EU Perspective

Importantly, no EU country in 2024 had more than half of its population facing economic insecurity—a notable improvement from 2015, when over 50% of the population in nine countries reported such challenges. These figures underscore both progress and persistent vulnerabilities within European households, urging policymakers to consider targeted measures for enhancing financial resilience.

For further insights and detailed analysis, refer to the original reports on Philenews and Housing Loans.

Breaking news