The Saudi Ministry of Industry and Mineral Resources announced the conclusion of the activities of the "International Mining Conference", which was held in Riyadh from January 11 to 13, 2022, under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud - may God protect him -, entitled "The Future of Minerals". .

The ministry said that the conference succeeded in highlighting the Kingdom's role and its future vision in leading this sector at the regional and international levels. This success was represented by the participation of 15 ministers from outside the Kingdom and representatives of more than 32 countries in its various activities.

The statement of the Ministry of Industry and Mineral Resources confirmed that the conference witnessed a distinguished presence at the level of governments, international organizations, major mining companies, financial institutions, academics, researchers and those interested in the Kingdom and the world. Abdulaziz bin Salman bin Abdulaziz, Minister of Energy, His Excellency the Minister of Investment, Eng. Khalid Al-Falih, His Excellency the Minister of Environment, Water and Agriculture, Eng. Abdul Rahman Al-Fadhli, His Excellency the Minister of Industry and Mineral Resources Bandar Al-Khorayef, the Governor of the Public Investment Fund, Mr. Yasser Al-Rumayyan, the CEO of SABIC, Mr. Yousef Al-Bunyan, and the President Ma’aden’s CEO, Abdulaziz Al-Harbi, in addition to speakers from presidents and CEOs of major international companies, such as the President of “Barrick Gold” Company, Mark Bristow, and the Founder and Chairman of the Board of “Ivanhoe Mines” Robert Friedland, and the Chairman of the Board of Directors of “Novagold” Thomas Kaplan, Vedanta President, Anil Agarwal, and General Manager, Mollis & Company Rick Kantor, President of Fortescue Metals Andrew Forrest, Secretary General of the World Wide Fund for Nature, CEO of the International Council of Mining Rohich Dhawan, and CEO of Alcoa Roy Harvey.

The statement indicated that the activities of the conference witnessed rich discussions and interventions, with the participation of more than 100 government leaders and international mining companies, through 40 dialogue sessions on the future of the mining sector, its contributions to the development of societies, promoting sustainable and clean energy systems, and attracting direct investments to the mining sector in the region. The exhibition accompanying the conference, which included the Saudi pavilion represented by 12 government agencies in the Kingdom, witnessed the participation of some countries with special pavilions, in addition to the participation of more than 30 Saudi and international companies.

The ministry indicated that the conference witnessed a large attendance of 3,500 participants at its headquarters and 4,000 virtual participants from 100 countries around the world, in addition to the millions who followed it from live broadcasts and social media, noting that on the sidelines of the conference, 5 agreements and memoranda were signed, the most important of which is a memorandum of understanding. It was signed by the Ministry of Energy in the Kingdom of Saudi Arabia with the Ministry of Industry, Mines and Energy of the Republic of Tunisia, and a memorandum of understanding signed by Maaden and Aquapower.

The statement stated that during the first day of the conference, the eighth consultative meeting of Arab ministers concerned with mineral wealth affairs was held, which was organized by the ministry in partnership with the Arab Organization for Industrial Development, Standardization and Mining, which resulted in the following:

- Their Excellencies the Ministers approved the organization’s proposal to prepare a mining indicative system for the Arab countries, to keep pace with the current global trends and adopt the best practices related to the mining industries.

- Their Excellencies the Ministers praised the Arab initiative for minerals used in the field of clean energy proposed by the organization; In line with international efforts towards achieving cleaner energy systems, lower emissions, and mitigating climate change.

- Their Excellencies the Ministers affirmed keeping pace with technical developments and employing them to achieve sustainable development in the field of mining in the Arab countries, enhancing the status of minerals, maximizing their value, making good use of them, and strengthening their value chain.

- Their Excellencies the Ministers appreciated the launch of the first specialized digital platform for requests and offers of Arab industrial and mining products with the support of the Kingdom of Saudi Arabia, and their praise for this important step that will help develop the mining sector in the Arab countries.

The Ministry indicated that on the sidelines of the conference, round table meetings were held, in which their Excellencies the Arab ministers, and several ministers concerned and responsible for the mining sector in 32 countries, were held, with the aim of providing an opportunity for investors, mining companies and parties concerned with the mining sector, worldwide, to meet and be informed. For everything that concerns them about the potential and opportunities of the mining sector in the Kingdom, and in the regions of the Middle East, Central Asia and Africa, indicating that they discussed opportunities to find deeper cooperation across the region, and to enhance coordination and cooperation between governments, their partners from the private sector and civil society, as the basis for achieving sustainable and responsible mining developments. Comprehensive, offering co-benefits, extending beyond mining sites to the communities near those sites.

The statement clarified the participants’ affirmation that the global mining sector is characterized by challenges as well as great opportunities, especially in the stage of recovery from the “Covid-19” pandemic, as mining companies’ dealing with public health risks associated with the Corona virus, and the resulting crisis, lead to the recovery of chains The supply and increase in consumer demand, pointing out that the increased demand for strategic minerals, which is expected to grow at a faster pace in the coming decades, and what this growth represents as a historic investment opportunity for the region, were discussed.

The statement stressed the participants’ consensus on the importance of the region (Africa, the Middle East and Central Asia) in contributing to the provision of minerals in response to global demand, and they emphasized the region’s ability to meet the world’s mineral needs in the future, as it possesses a significant amount of reserves and resources of basic mineral commodities thanks to its nature. They also agreed on a collaborative approach that brings together stakeholders seeking common ground for developing resilient mineral supply chains.

The statement of the Ministry of Industry and Mineral Resources indicated that the participants in the round tables emphasized the existence of a unanimous position on the importance of minerals to future societies and economies, and called for a road map to make progress in the multi-stakeholder dialogue on mining and mining industries in these regions.

The Ministry of Industry and Mineral Resources emphasized the praise of all the attendees from the representatives of governments and companies for the great capabilities of the Kingdom of Saudi Arabia in the mining sector, and that it possesses many ingredients for excellence in this sector to become a center for mining services companies and a regional headquarters for mining companies because it mediates an important mining area that extends From Africa to the Middle East and Central Asia, praising the importance of the idea of ​​the conference, which emerged from the Kingdom’s strategy for mining and mining industries, to be a catalyst for investment in the sector quickly, especially in light of the increasing demand for minerals in the world at the present time motivated by modern industrial trends with regard to renewable energy Electric cars, etc. are industries that depend on many strategic minerals.