Middle Eastern sovereign wealth funds (SWFs) are beginning to scout the global mining industry for investment opportunities as part of a strategy to diversify away from oil and gas.

Many of the assets being considered produce critical minerals like cobalt and nickel, which are essential for electrification and the energy transition.

The SWFs are also considering investments in markets where governance profiles don’t line up with those that are typical in Northern America or Europe.

Middle Eastern players are also targeting undervalued assets like coal and are finding opportunities to secure supply chains and domesticate mining expertise.

Patrick Harris, Mergermarket’s senior editor based in London, joins Dealcast host Julie-Anna Needham to discuss the outlook for mining deals, including:

• Which deals are showcasing the overall trend, like IRH’s acquisition of mines in Zambia or the Qatari’s sovereign wealth fund’s investment in TechMet, an Irish company that recycles lithium batteries
• Which minerals, like lithium and copper, are critical for electrification and seeing significant investor interest
• Potential opportunities for mining in the Middle East itself, like Saudi Arabia’s alleged USD 2.5 trn worth of minerals available to be mined

All this and more in this weeks Dealcast.