Saudi Arabia Eyes Copper Mining in Zambia

Saudi Arabia's Ma’aden is in advanced talks regarding a copper mining venture in Zambia, as disclosed by CEO Robert Wilt at the Future Investment Forum. These negotiations are a strategic effort by Saudi Arabia to expand its international mining footprint, aligning with its broader economic diversification goals.

Saudi Arabia is actively engaging in advanced discussions concerning a new copper mining venture in Zambia, according to Robert Wilt, CEO of the kingdom's leading mining enterprise, Ma’aden. Speaking at the Future Investment Forum in Riyadh, Wilt indicated the talks were progressing well.

The move is part of Saudi Arabia's strategic efforts to diversify its economic landscape, moving beyond oil and investing heavily in international mining opportunities. The potential deal involves a significant copper mine in Zambia, spotlighting the kingdom's goal of becoming a global mining hub.

Robert Wilt, who also holds the vice chairman position at Manara Minerals, emphasized the readiness of both parties to finalize negotiations. The prospective agreement demonstrates Saudi Arabia's commitment to enhancing its economic ties with African nations while tapping into valuable natural resources.

(With inputs from agencies.)