PIF and Ma’aden to form a joint venture.

Public Investment Fund, the sovereign wealth fund of Saudi Arabia, and Ma’aden, one of the world's fastest-growing mining companies, agreed to form a joint venture to invest in mining assets globally. Financial terms were not disclosed. "This is a significant step for Ma’aden as we develop the mining sector in Saudi Arabia and position the Kingdom as a key ally in securing the metals of the future. The global energy transition relies on the strategic minerals needed for renewable energy and battery storage, and our focus on these will give us a foothold in the global commodity value chain, where major supply constraints are combined with growing demand," Robert Wilt, Ma’aden CEO.