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MINERALS-
The Saudi government has shortlisted six companies bidding for the first batch of licenses as part of its Exploration Enablement Program (EEP), according to a statement. The program — rolled out earlier this year — aims to incentivize critical minerals exploration, including copper, lithium, and nickel, by reducing early-stage risks. The EEP licenses will cover a total area of 4k km sq and 440k drilling meters and offset costs of drilling, and geophysics and geochemistry surveys. A second wave of EEP will be held in January 2025, the Saudi Gazette reports.
REMEMBER- Saudi has been looking to grow its mining sector: Saudi Arabia aims to become a global hub for metals critical for the energy transition in an effort to diversify its economy away from oil. This includes tapping significant amounts of uranium and titanium discovered in the country. KSA’s mining profits totaled SAR 1.5 bn in 2023, and the kingdom plans to leverage its untapped minerals to help produce as much as 500k EVs by 2030.
CLIMATE DIPLOMACY-
Nigeria and Egypt sign MoU on water resources cooperation: Nigeria and Egypt have signed an MoU to enhance collaboration in water resources management, according to a statement last week. The partnership aims to address key water-related challenges, including irrigation development, flood management, drought forecasting, and water quality monitoring, the statement said. Both nations will also collaborate on aquatic weed control, climate change adaptation, and the governance of water resources.
OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-
- DG looking to invest in Egypt’s hydrogen sector: Italian engineering company DG Impianti Industriali is looking to invest in hydrogen and renewable energy in Egypt, a company official said without disclosing details about the scope of investments. (Cairo 24)
