Saudi Arabia Discovers Lithium Reserve, No Longer Solely Reliant on Petroleum

Riyadh, 4 Pous. Saudi Arabia, which is rich in petroleum reserves, has received another significant gift. 

The large oil company in Saudi Arabia is about to complete its project. However, the Saudi company has also discovered a significant modern oil mine at this time. For the first time, a lithium reserve has been found in Saudi Arabia's maritime region. The oil company Aramco found this lithium reserve while launching a pilot project in the oil field.

Now, Saudi Arabia is set to initiate a commercial pilot program to extract lithium directly. Lithium is also referred to as white gold and modern oil. Lithium is considered very valuable. It is used in making batteries for electric vehicles and smartphones. There is a good demand for it worldwide. 

This project has been entrusted to King Abdullah University of Science and Technology. Lithium will be extracted from the maritime region under the startup Lithium Infinity Project. According to Saudi ministers, this project is jointly operated by mining company Ma'aden and Aramco. The university has invented new technology to extract lithium. However, there has been no disclosure about how much lithium there is, although it has been said that the economy of Saudi Arabia will also be dynamic due to lithium.

Today, countries worldwide are continually reducing fossil fuel vehicles. In the coming decade, the demand for lithium is expected to match that of fossil fuels. Lithium is used in making laptops, electric vehicles, smartphones, and other devices. Companies in the United Arab Emirates are also continuously working on the exploration of lithium in this field.

In many countries around the world, efforts are underway to extract lithium from saltwater using technology. According to Saudi ministers, extracting lithium from saltwater in the oil sector has been very costly. If the price of lithium increases globally in the coming days, it will benefit Saudi Arabia. For several decades, Saudi Arabia's economy has been solely dependent on petroleum products.

However, Saudi Arabia is spending millions of dollars each year to create a hub for electric vehicles. Saudi princes are worried about how the economy will function when their country's oil reserves are exhausted. Therefore, Saudi Arabia is spending billions to search for lithium reserves.