Saudi Press

Saudi Arabia and the world
Monday, Jul 21, 2025

Alkhorayef highlights Saudi Arabia’s potential to support clean energy transition

Alkhorayef highlights Saudi Arabia’s potential to support clean energy transition

Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef stressed the vital role the Kingdom is playing in supporting the global transition to clean energy in a fireside chat held on Friday on the sidelines of COP27 in Sharm-el-Sheikh, Egypt.
The Critical Minerals panel was hosted as part of the Saudi Green Initiative 2022 Forum, which gathers climate leaders to evaluate progress in climate action. The forum is held under the patronage of Crown Prince Mohammed bin Salman.

“With significant untapped mineral and metal deposits in Saudi Arabia, we have vast geological resources needed to help build a future based on clean energy. With a five-fold increase in supply needed by 2050 to create renewable energy technologies that global economies will increasingly run on, it is vital that we address the issue of mineral supplies now,” Alkhorayef said.

Minerals critical to the energy transition will significantly drive demand over the coming decades. Yet not enough are being produced at the scale and speed necessary to deliver the transition in time. According to the International Energy Agency (IEA), production from existing and planned mines will only meet half of the lithium and cobalt needed by 2030 to achieve the targets set out in the Paris Agreement. With low exploration, development and operating costs relative to industry standards and proximity to end markets, Saudi Arabia is well-positioned to lead the global mining sector.

With national ambitions to achieve net zero by 2060, Saudi Arabia is pursuing its blueprint of economic diversification – Vision 2030 – to become a world leader in the renewable energy market. Saudi Arabia is leveraging its vast mineral resources as part of a broader strategy to build integrated supply chains central to the circular carbon economy, including green steel, green hydrogen and electric vehicle and battery manufacturing.

“The Ministry of Industry and Mineral Resources was created in Saudi Arabia to ensure that our country benefits from its natural resources and we don’t fall into the trap many others have in getting their resources processed elsewhere,” Alkhorayef added.

“To develop a mining industry capable of meeting future demands, we need to further invest in exploration, reduce licensing time applications, make geological data available and integrate advanced technologies. That’s why we’ve launched our new mining investment law to reduce licensing time and announced our huge national geological survey program to make data available for investors,” Alkhorayef added.

Ensuring that metal and mineral exploration is conducted sustainably and with minimal impact on the environment and supports local community development, Saudi Arabia’s recent mining regulatory reforms saw the introduction of the new Mining Sustainability Principle. Based on the latest mining investment law, the principle requires mining companies operating in Saudi Arabia to demonstrate strict environmental, social and governance (ESG) adherence as part of any exploration license application.

“Collaboration the key if we want to achieve our targets. That’s why in Saudi Arabia we are convening global mining experts and governments from around the world for further collaboration, share best practices, and help develop regional centers of excellence,” Alkhorayef said.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
×