OPEN CALL
Commercialization Projects to Advance the Mining Sector
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BACKGROUND
The global energy transition is driving an unprecedented demand for critical minerals, with clean energy technologies requiring significantly more material and mineral inputs than traditional hydrocarbon systems. However, global supply and investment in critical minerals fall short, exacerbated by declining ore quality, concentrated production in a few countries, and rising environmental and cost pressures. Innovation and technology adoption across the mining value chain is essential to identify new resources, enhance efficiency, reduce environmental impacts, and diversify supply. Accelerating innovation to unlock transformative change and progress in the mining industry will require systematic support to engage startups and de-risk early-stage technologies.
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The Kingdom of Saudi Arabia’s vision 2030 aims to leverage the Kingdom’s unique strengths - such as its abundant natural resources and its strategic geographical position - to diversify its economy, empower its citizens, create a vibrant environment for both local and international investors, and establish Saudi Arabia as a global hub for mineral processing and mining services.
As a part of this vision, the Kingdom plans to leverage its untapped reserves of critical minerals as a key opportunity to drive economic diversification and support global sustainability goals by addressing critical mineral supply gaps. Its strategic location positions it as a hub for processing and distributing critical minerals globally. Saudi Arabia's aims of scaling mining as a core pillar of its economy, require tailored technological solutions to unlock this potential.
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To this end, Newlab has partnered with the National Industrial Development and Logistics Program (NIDLP) , The Ministry of Industry and Minerals (MIM), Ma'aden, Saudi Mining Services Company (ESNAD), Saudi Geological Survey (SGS) to establish a Mining Innovation Studio. Through the program, Newlab will structure collaborations between global startups and companies along the mining value chain in Saudi Arabia and make targeted investments designed to drive technology commercialization. These commercialization projects accelerate and de-risk critical technology within the metals and minerals mining sector, drive and align commercial pathways for startups to scale in the region, and ultimately increase adoption of technologies that can bridge the critical mineral supply gap.
OUR THESIS
Why the Kingdom of Saudi Arabia?
- Large unexplored landmass encouraging foreign investment in mining, where the Kingdom's mineral resources is estimated to be valued at $2.5 trillion (USD), with over 48 minerals identified
- Significant regional demand for metal-based products thereby creating a vertically integrated ecosystem from
- Investor friendly mining regulations to enable accelerated exploration licenses and mine development permits relative to global benchmarks
- Best-in-class taxation and financial incentives for investors, where Saudi Arabia offers co-funding for capital development of advanced exploration and mining activities.
- Deep commitment to the mining sector, where the mining sector is a key pillar in the Kingdom’s Vision 2030 ambitions with an expected GDP contribution of over $70 billion (USD)
- Robust and rapidly expanding logistics infrastructure network designed to efficiently support material movement across the mining sector in the country
Opportunity Spaces
Newlab and our partners in Saudi Arabia are seeking to drive targeted commercialization projects within the following focus areas:
- Discover & Prospect More: Accelerate the exploration and identification of economically viable mineral resources
- Develop Faster & Mine Better: Increase the efficiency, productivity and traceability of mineral recovery
- Recover, Process, and Refine Minerals: Efficiently process and refine strategic and critical minerals from primary and secondary resources (i.e. tailings, electronic waste, batteries)
- Operate Sustainably: Reduce emissions across the mining value chain while improving water management and environmental stewardship
WHO SHOULD APPLY?
Newlab and program partners aim to collaborate with startups and global strategic industry leaders at the forefront of the mining sector through this program.
Organizations interested in joining the program are invited to share their information.
If you are a technology company developing a novel solution or an established mining company looking to adopt emerging technology within these focus areas, please submit an expression of interest.