Saudi Arabia strives to become major player in mineral supply chains: a questionable pillar of Europe's diversification strategy

Abstract

Saudi Arabia has entered the geopolitical competition for mineral resources - and it has done so in a determined manner and with substantial funds at its disposal. As part of its Vision 2030, the Kingdom aims to strengthen local processing and in­dustrial value added. Currently, Saudi Arabia secures its mineral resources through inter­national investments and offtake agreements; but, in the long term, it plans to develop its domestic mining industry. Many initiatives remain in the conceptual phase. As it looks to realise its ambitions, Saudi Arabia continues to rely on inter­national partners. Positioning itself as a geopolitically neutral "link" between the major powers, the Kingdom is seeking closer ties with China while at the same time competing with the People's Republic. Simultaneously, it presents itself to the West as a potential partner for resource diversification. The EU appears to regard cooperation with Saudi Arabia as a viable option for securing its raw material supply. How­ever, the key conditions for a strategic partnership have still not been met. (author's abstract)