Saudi Aramco, the world’s largest oil company, is to expand its investments in lithium production in the race to build a supply chain for the metal vital for batteries to power electric cars. China controls about two-thirds of the market in lithium processing,

Saudi Arabia’s main oil and mining companies are forming a joint venture to produce lithium, a key metal for the energy transition, as the kingdom pursues a bigger role in mining.

Saudi Aramco has announced plans to team up with state-run compatriot Ma’aden, a multi-commodity mining and metals company, to commercialise the extraction of lithium from underground salty waters at its vast oilfields in the kingdom, initially for the country’s own use.

Saudi Aramco (ARMCO) plans to boost investments in lithium production, the Financial Times reported, citing three people close to the company, as the world's biggest oil company eyes developing its own supply chain for the metal that powers electric vehicle batteries.

The Saudi state giant is expected to soon announce its plans to boost investments in lithium development, as part of broader moves to become a mining hub and diversify from oil, news reports have sugg