Minister of Industry discusses global mining partnerships in Riyadh
In a move reflecting the Kingdom of Saudi Arabia’s commitment to diversifying its economy and enhancing its presence on the global industrial map, the Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef, held an intensive series of bilateral meetings with a select group of ministers and international officials, on the sidelines of the fifth edition of the International Mining Conference held in the capital, Riyadh.
A third pillar of the national economy
These diplomatic and economic moves come within the framework of the Kingdom's ambitious Vision 2030 strategy, which aims to transform the mining sector into the third pillar of national industry, alongside oil, gas, and petrochemicals. Through these partnerships, the Kingdom seeks to leverage its vast mineral wealth, valued at trillions of riyals, which includes vital minerals essential for future industries and clean energy technologies.
Strengthening Arab and regional integration
On the Arab level, Al-Khorayef met with the Qatari Minister of State for Foreign Trade, Sheikh Ahmed bin Mohammed Al-Sayed, where the two sides discussed ways to enhance industrial integration between the two brotherly countries, serving their common interests and supporting the growth of trade exchange. He also met with the Moroccan Minister of Energy Transition and Sustainable Development, Dr. Leila Benali, to discuss opportunities for expanding mining partnerships and leveraging Morocco's strategic location as a key gateway to enhance Saudi exports to promising African markets.
International partnerships for technology transfer
As part of its commitment to global expertise, the Minister's meetings with officials from the Americas focused on knowledge transfer and technology localization. Al-Khurayyif discussed potential areas of cooperation with the Chilean Minister of Mines, Aurora Williams, particularly given Chile's leading role in copper and lithium production, which opens up opportunities for exchanging technical expertise in exploration and processing.
The Minister also discussed with Claude Guy, Parliamentary Secretary to the Canadian Minister of Energy and Natural Resources, deepening the Saudi-Canadian partnership. These discussions are particularly important given the leading role of Canadian companies in acquiring mining exploration licenses in the Kingdom, as well as Canada's leadership in mining finance solutions and sustainable technologies, which supports the Kingdom's drive towards environmentally friendly and highly efficient mining.
The importance of the International Mining Conference
These meetings reflect the pivotal role of the International Mining Conference as a global platform that brings together industry leaders, investors, and decision-makers. The conference aims to shape the future of minerals in the region stretching from Africa to West and Central Asia, and to contribute to securing global supply chains for the strategic minerals needed for the global transition to green energy and advanced industries.
