In a move reflecting the Kingdom of Saudi Arabia's commitment to solidifying its position as a global hub for mining industries, the Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef, held a series of intensive bilateral meetings with ministers and international officials on the sidelines of the fifth edition of the International Mining Conference in Riyadh. These meetings focused on expanding avenues for joint cooperation and developing strategic investment partnerships, in line with the objectives of the Kingdom's Vision 2030.
Strengthening regional and international integration
Minister Al-Khorayef's tour included an important meeting with the Qatari Minister of State for Foreign Trade, Sheikh Ahmed bin Mohammed Al-Sayed, where they discussed ways to enhance industrial integration between the two brotherly countries. He also met with the Moroccan Minister of Energy Transition and Sustainable Development, Dr. Leila Benali, to discuss how to leverage the strategic location of both Saudi Arabia and Morocco to facilitate Saudi exports to promising African markets, reflecting the Saudi approach of engaging with the African continent as a key economic partner.
Partnerships with global mining giants
At the international level, the focus has shifted towards leveraging established global expertise. Minister Al-Khorayef discussed promising opportunities for mineral exploration with Chile's Minister of Mines, Aurora Williams, given Chile's extensive experience in the sector. Similarly, the Minister discussed growing partnership opportunities with Claude Guy, Parliamentary Secretary to the Canadian Minister of Energy and Natural Resources, particularly as Canadian companies are leading the way in acquiring exploration licenses in the Kingdom, which facilitates the transfer of modern technologies and innovative financing solutions.
Strategic context: Mining is the third pillar of industry
These meetings are of paramount importance given the current context in the Kingdom, where Vision 2030 has established the mining sector as the third pillar of national industry, alongside oil and petrochemicals. The Kingdom seeks to leverage its mineral wealth, estimated at trillions of dollars, not only through extraction but also by building integrated supply chains and processing minerals locally.
The International Mining Conference is a unique global platform that brings together industry leaders to discuss the future of minerals in the region stretching from Africa to West and Central Asia. Minister Al-Khorayef's initiatives underscore the Kingdom's leading role in securing global supply chains for critical minerals essential for the energy transition and advanced industries, thereby enhancing global economic security and attracting foreign direct investment to the Saudi market.
