Maaden signs Arabian Shield exploration contract with Fleet Space and Tahreez JV
Saudi Arabian mining company Maaden has signed a four-year exploration contract with a joint venture (JV) comprising Fleet Space Technologies and Tahreez to explore up to 12,012.6km² of the company's priority projects in the Arabian Shield.
This partnership aligns with Maaden's growth strategy and Saudi Arabia's Vision 2030. It will support high-resolution, real-time 3D subsurface imaging up to 7km deep across Maaden's mining tenements.
The contract follows a memorandum of understanding between Maaden and the Fleet Space & Tahreez JV in January to explore Saudi Arabia's mineral potential.
Maaden will deploy Fleet Space's ExoSphere technology, including real-time ambient noise tomography, active seismic techniques and AI-driven drill targeting, across various projects in the Middle East, aiming to identify prospective development sites.
The ExoSphere technology is already used by industry giants such as Rio Tinto and Barrick, offering 3D imaging with minimal environmental impact and supporting global environmental, social and governance goals.
The Fleet Space and Tahreez JV will ensure the swift implementation of the ExoSphere platform by utilising Fleet Space's low Earth orbit (LEO) satellite network, smart ground sensors and advanced AI models.
This system provides instant 3D subsurface insights and AI-enabled drill targets, enhancing the agility and efficiency of remote field operations.
Maaden CEO Bob Wilt said: 'This exploration contract with the Fleet Space & Tahreez JV marks the beginning of a new chapter in the future of mineral exploration – one where the latest advances in space technology, real-time geophysics and AI converge to build the mineral supply chains of tomorrow.
'By integrating Fleet Space's cutting-edge, space-enabled exploration stack with our world-class operations, Maaden aims to set a new global benchmark in exploration data intelligence and build a faster, smarter and more sustainable path forward for the global mining sector – fully aligned with the Kingdom's bold transformation under Vision 2030.'
The agreement follows Fleet Space's recent acquisition of HiSeis and a $100m (A$155.25m) Series D funding round.
Integrating HiSeis' active seismic solutions with ExoSphere's platform expands Fleet Space's efforts to transform mineral exploration through real-time data processing and satellite connectivity.
By 2026, Fleet Space plans to launch a lunar variant of ExoSphere, named SPIDER, to enhance mission planning with comprehensive lunar subsurface data.
In April, Maaden was considering partnering with one of four global companies to develop a rare earths processing facility.
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