"Holding" (AdQ) and"Eni" Looking for cooperation in the basic mineral sector and supply networks

3 weeks ago

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Abu Dhabi, February 24/ WAM/ ADQ signed a memorandum of understanding with ENI, a global company specialized in Rome -based energy technology with the aim of identifying the areas of potential strategic cooperation to enhance supply networks for basic minerals and accelerate the pace of transformation in Energy sector.

This cooperation gives priority to potential investments in major regions such as Africa, North America and Central Asia. The two parties will seek, according to the memo, to take advantage of the available opportunities and discuss the aspects of cooperation within the full value chain of basic and strategic metals, starting with mining to processing and the applications of the refining sector, as well as assessing the possibility of establishing refining and processing facilities in the Emirates, Italy and other strategic sites.

In this regard, the International Energy Agency expected the high rate of consumption of basic minerals by six times by 2050 due to the increasing use of clean energy technologies, including electric cars, wind turbines, solar power panels and energy storage systems, which all depend largely on minerals such as lithium, cobalt and nickel And rare ground elements.

Hamad Abdullah Al Hammadi, Executive Vice President of the Group in “ADQ”, said that in light of the continuous global transformation towards finding clean energy solutions, maintaining stable and flexible supplies of basic minerals is a necessary matter for the development and application of technologies that enhance this change, aimed through a memorandum Understanding with Eni to employ joint experiences and capabilities to develop influential projects within the entire value chain to ensure the availability of these resources The vitality at appropriate costs .. This step reflects our continuous commitment to concluding partnerships that achieve high value in the long run for companies affiliated with our wallets and the economies in which they work.

For his part, Claudio Desalzi, CEO of Eni, said that this memorandum signed by “Eni” with “ADQ” (ADQ) comes within our continuous partnership with the Emirates and reflects our joint commitment to the future of sustainable energy by employing innovative solutions and cooperation in major sectors and working with companies A pioneering Emirati, we will develop important initiatives to cause energy shift.

He described this strategic cooperation as reflecting their commitment to supporting the march of technological progress and promoting energy security at the global level.

It is noteworthy that the company “Eni” operates in 62 countries, and it is an integrated energy company that seeks to play a major role in ensuring energy security and leading the transformation in the sector.

The company’s declared goal is to achieve carbon neutrality by 2050 by removing carbon from its operations and products it provides to its customers.

In line with this goal, the company invests in research and developing technologies that can accelerate the transition to sustainable energy. The Memorandum of Understanding with “Eni” comes as a continuation of the current “ADQ” investments in the sector, including the “Orion Abu Dhabi” company, a recently established joint project and is owned equally with “Orion Resources Partners”, the global investment company specialized in minerals and materials Essential and necessary for sustainable economic growth and achieving the transformation in the energy sector.