Saudi Aramco to expand investments in lithium as it diversifies from oil

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Financial Times 12h ago

Saudi Aramco to expand investments in lithium as it diversifies from oil - Financial Times

Quick Summary:

China controls about two-thirds of the market in lithium processing, but an increasing number of western and Middle Eastern companies are investing in developing their own supply chains.

Global demand for lithium is expected to surge seven-fold by 2040 owing to demand from electric vehicles, according to projections.

Energy companies have been a natural fit for developing lithium production from brine because many of the core skills used to produce oil, such as pumping, processing and reinjecting fluid underground, are key for producing the mineral.