SAUDI ARABIA TO ACTIVATE ITS MINERAL RESOURCES

THE SECOND EDITION OF THE FUTURE MINERALS FORUM HAS BEEN HELD UNDER THE PATRONAGE OF THE CUSTODIAN OF THE TWO HOLY MOSQUES, KING SALMAN BIN ABDULAZIZ, WITH THE EVENT LOOKING TO DEVELOP DIALOGUE ON THE FUTURE OF MINERALS AND INVESTMENT IN MINING AND ENHANCE COLLABORATION THROUGHOUT THE REGION EXTENDING BETWEEN AFRICA AND WEST AND CENTRAL ASIA.

Several Saudi ministers revealed a diversified mineral portfolio, emphasizing that the Kingdom wanted to activate its natural riches and utilize them for peaceful reasons, as well as the transition to clean energy and future technologies.

His Excellency Mr. Bandar bin Ibrahim AlKhorayef, Minister of Industry and Mineral Resources, unveiled the completion of a whole industrial city to process aluminum from raw materials and bauxite to final value-added products used in the automotive industry and food packaging. He stated that the Kingdom has succeeded in developing an indispensable and significant role in the mining sector, initiating a productive discourse in the industry and achieving rewarding cooperation between different countries.

According to al-Khorayef, the Forum was an effort to bridge the gap in the mining sector

The Forum drew 2,000 participants from 130 countries and 200 speakers

while progressing Saudi Arabia's minerals strategy. He noted that Africa, Central, and West Asia account for 33% of the world's mineral resources, but that the region needs a platform for companies, institutions, and organizations to collaborate. "Our region lacks a platform that brings together relevant parties from governments, the mining sector, companies, financial establishments, civil society organizations, service providers, and academic circles."

He emphasized that the platform would also expand the region's contributions to global mineral supply chains while ensuring that this is done in the best possible way and with the most potential social and economic benefit.

The Forum drew 2,000 participants from 130 countries and 200 speakers, including state officials, industry workers, investment executives, technology suppliers, and intellectuals.

Khorayef explained that as part of Vision 2030, the Kingdom has devised a number of programs to assist the mining sector. He highlighted that authorities had completed a thorough evaluation and update of the mining investment system, which serves as the sector's regulatory foundation and provides a transparent and straightforward environment for investors.