SWCC unveils its First Investment Contracts for Brine Mining
On the sidelines of the International Mining Conference held during the period from January 9 to 11, 2024, the Saline Water Conversion Corporation signed several agreements and memorandums of understanding in the field of mining, with local and international companies and academic institutions, including signing investment contracts for brine mining with group of Chinese companies.
It has also entered into joint agreements with specialized international and national companies, including Ningxia TB, the JSG Alliance, as well as the Saudi Investment Recycling Company (SRIC), aiming at advancing cooperation efforts and joint development of investment opportunities, enhancing local content and empowering national industries, in addition to maximizing the use of brine water and the additional quantities of water and valuable minerals supporting the manufacturing chain and enhancing ways to benefit from growth opportunities in end-use markets.
SWCC’s agreements with the investment companies are to enable the companies to invest in brine water by extracting minerals and reproducing desalinated water from brine water at a cost.
The expected figures for investment in brine mining from desalination systems in Saudi Arabia indicate that it will reach SAR 8 billion in 2030. However, the expected revenues of SWCC will reach SAR 1 billion in 2030. Contribution to GDP will increase to SAR 1.5 billion in the same year.
Activities of the third edition of the International Mining Conference will be launched under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, where the Saline Water Conversion Corporation participates, as a strategic sponsor of the conference, to review its initiatives, projects and innovative technologies in brine mining and valuable mineral extraction and to identify the opportunities and challenges that would attract quality investments, to the extent that is reflected in the localization of this industry, increasing its contribution to GDP, and achieving objectives of the Saudi Vision 2030.
During its participation in the conference, SWCC will discuss its innovative capabilities and solutions to maximize the benefit of by-products from water desalination industry, using sustainable and environmentally friendly technologies that enable the brine mining and mineral extraction contributing to preservation of natural resources and application of circular economy. SWCC will also highlights efforts to develop technologies, improve efficiency, and reduce operational costs to achieve global leadership in this field.
In addition to SWCC’s pavilion in the accompanying exhibition, which showcases innovative projects in brine mining, focusing on its achievements in maximizing the benefit from outputs of the desalination industry and achieving economic returns from the extracted minerals to support supply chains in several industries (oil and gas, military, pharmaceutical, food, etc.), which contributes to raising financial efficiency and cost balancing in line with the objectives of Saudi Vision 2030 in developing a diversified industrial sector that supports national economic development plans.