Saudi Arabia signs mining deals with 6 countries

TDT | Manama
Email : editor@newsofbahrain.com

The Ministry of Industry and Mineral Resources of Saudi Arabia has signed a series of memoranda of understanding (MoUs) and cooperation agreements with six countries during the fourth Ministerial Roundtable, the key opening event of the Future Minerals Forum.

This significant milestone aims to enhance international partnerships and promote the growth of Saudi Arabia's mining and minerals sector.

Minister of Industry and Mineral Resources, Bandar Alkhorayef, and Deputy Minister for Mining Affairs, Eng. Khalid Al-Mudaifer, represented Saudi Arabia in the agreements. The counterparts included the energy and natural resources minister of Djibouti, the energy and mineral resources minister of Jordan, the UK Secretary of State for Business and Trade, and the mines and mineral development minister of Zambia.

Additional agreements were signed with Austria's Ministry of Finance and France's Ministry of the Economy, Finance, and Industrial and Digital Sovereignty.

The Future Minerals Forum kicked off earlier that day in Riyadh, with representatives from over 90 countries, including 16 G20 nations, and 50 international organizations. The forum's opening session, the Fourth Ministerial Roundtable, focused on fostering global collaboration to produce critical minerals for the energy transition. Discussions centered on sustainable development strategies within the mining sector, positioning it as a key driver for both economic growth and social progress.

The ministers emphasized three primary initiatives: the Strategic Framework for Critical Minerals, aiming to unlock the full potential of Africa, West, and Central Asia’s mineral resources; Sustainability, which focuses on developing responsible supply chains and enhancing transparency; and Centers of Excellence, aimed at boosting investment, human capital, and technological advancements in the region.

The roundtable saw the participation of notable government leaders, including Dr. Gilberto Pichetto Fratin, Minister of Environment and Energy Security from Italy, Jonathan Reynolds, UK Minister of State for Business and Trade, and several other influential ministers from Brazil, India, Congo, Egypt, Nigeria, and Morocco.