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

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.

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.

Europe’s Deadly Summer Heat Exposed The Cost Of A Warming Continent

Europe experienced its deadliest summer for heat-related deaths on record in 2026, with an estimated 24,400 excess deaths linked to extreme temperatures across 30 countries. Researchers estimate that human-induced climate change was responsible for around 32,000 of the deaths attributed to heat in the study’s broader analysis, accounting for 65% of the total.

The findings highlight the growing public-health consequences of global warming, largely driven by fossil fuel use, as extreme heat becomes more frequent and severe.

A Summer Of Dangerous Heat

Between June and August, heatwaves pushed temperatures in Western Europe to an average of 2.9°C above the 1991–2020 norm, with some days reaching 12°C above average. Nearly a third of estimated heat-related deaths occurred during a particularly intense heatwave between 17 June and 1 July.

“These numbers are a stark reminder that our hotter, more extreme summers are having an increasingly severe impact on public health,” said Dr Clair Barnes, a researcher at Imperial College London and co-author of the study.

The estimated toll exceeded previous peaks of around 29,000 deaths in summer 2022 and 28,000 in 2003 across the region studied.

How Researchers Estimated The Toll

Researchers modelled the relationship between temperature and mortality across 854 urban areas in the EU, UK, Norway and Switzerland, covering around 40% of the population in the 30 countries studied.

The analysis incorporated temperature records, age, socioeconomic conditions, environmental factors and access to healthcare. By comparing actual temperatures with those expected without human-induced warming, the team estimated the additional deaths attributable to climate change.

Final official mortality figures for summer 2026 are not yet available in many countries, and heat-related deaths are often underreported because their effects can be difficult to identify directly.

Older People Face The Greatest Risk

People aged 85 and over accounted for roughly half of the estimated deaths. However, the impact extended across age groups, with around 800 excess deaths among adults aged 20–44 and approximately 6,000 among people under 65.

Southern Europe experienced the highest mortality burden, reflecting hotter temperatures and other vulnerabilities, including air pollution, limited green space and unequal access to healthcare and heat-alert systems.

Italy, France And Spain Record Highest Toll

Italy recorded an estimated 13,303 heat-related excess deaths, followed by France with 7,268 and Spain with 6,824. Germany recorded around 6,340, while the UK saw an estimated 4,354 deaths.

In the UK, the heat also placed significant pressure on healthcare services. Andrew Hartle, Professor of Practice of Anaesthesia at Imperial College Healthcare, said demand during the summer resembled that of a severe winter virus season.

Cities Urged To Strengthen Heat Protection

Researchers say cities can reduce the risks through climate shelters, external shading and building retrofits, alongside measures to help residents avoid exposure during the hottest hours. Checking on vulnerable people, staying hydrated and following heat alerts are also important.

The researchers stress that adaptation must go hand in hand with reducing fossil fuel use to limit further warming. The findings underline that extreme heat is already a major public-health threat across Europe, with thousands of lives at risk each summer.

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