Ma’aden and Shell sign MOU to explore decarbonization opportunities
Jan 11, 2023
Riyadh - Saudi Arabian Mining Company (Ma’aden) and Shell International Petroleum Company Limited (“Shell”) signed a memorandum of understanding to explore potential decarbonization partnerships and initiatives as well as define longer term strategic business collaboration areas. The agreement between Shell and Ma’aden will include exploring decarbonization opportunities that include but are not limited to, digitalization, electrification of fleet and carbon capture and storage (CCS).
Ma’aden, one of the fastest growing mining companies in the world and the largest multi-commodity mining and metals company in the Middle East, is steadily progressing towards achieving its goal to become a sustainable contributor to Saudi Arabia’s GDP, in line with Vision 2030, the Kingdom’s strategic framework to diversify the economy. Commenting on the agreement, Robert Wilt, CEO of Ma’aden, said: “We are delighted to enter this partnership with Shell which reinforces our commitment to decarbonize Ma’aden’s business operations and value chain to achieve carbon neutrality by 2050. Working with partners like Shell, we hope to integrate new technologies into our operations to set new benchmarks for sustainability and efficiency in mining and processing.”
Hamad Al-Rashidi, Senior Vice President of Safety, Sustainability & Innovation sharing his enthusiasm commented; “Our partnership with Shell is a step forward in Ma’aden’s long-term strategy to implement new technologies and best practices to drive the decarbonization of the business and achieve our carbon neutrality target”
Grischa Sauerberg, Vice President of Sectoral Decarbonisation & Innovation commented; “Shell will work closely with Ma’aden to accelerate their decarbonisation journey by sharing its knowledge and experience on decarbonization and low carbon energy solutions globally with Ma’aden. By working together, the partnership will play a pivotal role in helping Ma’aden reach their climate and environmental goals and accelerate decarbonization in the mining sector in the Kingdom.
Mohammed Alzumaia, Country Chairman of Shell Saudi Arabia and Bahrain also commented; “We are proud of our collaboration with Ma’aden and the opportunity to play a role in decarbonization in the Kingdom to ultimately reach net zero ambition by 2060. The agreement with Ma’aden demonstrates the vital role of effective partnerships and how it plays in accelerating decarbonisation in hard-to-abate sectors like mining.”
Media Middle East and North Africa: DUB-CNF-MENA-Media-Relations@shell.com
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