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  • Saudi Arabia vows to be ‘fast and furious’ in mining as it reveals $100 billion investment [mother lode of rare earth metals]

    01/15/2025 8:05:45 AM PST · by Red Badger · 13 replies
    CNBC ^ | January 15, 2025 | Natasha Turak
    Key Points * Saudi Arabia last year increased the valuation of its unexploited mineral resources from $1.3 trillion to $2.5 trillion, boosted by the discovery of rare earth elements and metals. * The kingdom on Wednesday announced a new mineral investment project valued at $100 billion, with $20 billion already in the final engineering phase or under construction. * Investment in critical minerals mining and processing must be happening “as fast and furious as possible” in Saudi Arabia, its energy minister said at the Future Minerals Forum in Riyadh. =============================================================================== RIYADH, Saudi Arabia — Saudi Arabia is pushing ahead to...