The world’s oil capital wants to go electric and get clean. To do so, it’s getting its hands on minerals critical for batteries and taking a stake in the EV-supply chain. It's a warning to slow adopters of clean energy, writes Anjani Trivedi. | Fin24
to remove and process the lithium into a pure enough form for use in batteries.
Saudi Arabia’s advance into battery materials, as shortages raise costs and companies’ battle tightening green regulations to get ahead, is turning what stands to be a huge threat to its economy into a long-term benefit. It’s almost too late for the US and parts of Europe to catch up. Other places in the Middle East are also looking to make the transition away from their economic reliance on oil toward greener technology. Abu Dhabi recently drew in a lithium firm to build facilities at the Khalifa Industrial Zone to extract the metal and recover valuable by-products from lithium-mica and phosphate minerals.
It shouldn’t be a surprise, then, if firms and nations soon end up swapping their dependence on Saudi Arabian oil for critical battery materials, much like they’ve had to do with China.24 encourages freedom of speech and the expression of diverse views. The views of columnists published on News24 are therefore their own and do not necessarily represent the views of Fin24.In times of uncertainty you need journalism you can trust.
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