Saudi Press

Saudi Arabia and the world
Wednesday, Jul 09, 2025

Saudi mining sector achievements fuelling optimism for FMF: Minister

Saudi mining sector achievements fuelling optimism for FMF: Minister

Saudi Arabia’s success in attracting a record amount of investment of $32 billion last year is merely the starting point of the potential impact of the Future Minerals Forum taking place in Riyadh, the Minister of Industry and Mineral Resources said at the event's opening.
Bandar Alkhorayef used his welcomed address to present evidence of tangible results from last year’s gathering to convey optimism towards the second FMF.   

The accomplishments include de-risking investments in mining exploration, production and processing, growing value chains in gold, phosphate and aluminum, as well as beginning to develop an electric vehicle ecosystem. 

In addition, Saudi Arabia “initiated the first auctions for sites on the Arabian Shield, attracting about 20 participants from around the world, bidding on our digital platform,” Alkhorayef said.  

“We achieved these results while facing the headwinds the entire world is facing: inflationary pressures, trade tensions, geopolitical polarization, and lingering public health issues.”  

He added: “But we cannot go it alone. None can.”  

Global mining leaders have come together to discuss the vital governmental roles in Africa, Western and Central Asia as catalysts for change to create a responsible and sustainable future.  

In the FMF, more than 60 countries are represented to “focus on solutions to accelerate net-zero transition and strengthen economic development through minerals and metals,” he said.  

Leaders will discuss decarbonization in addition to minerals and metals supply and value chains which are capable of satisfying global demand and thus managing global disputes. 

The development of minerals and metals in the region is crucial to form robust communities and enhance the balance of trade between this region and the rest of the world.  

“It is undeniable that the world needs more minerals and metals. The World Bank says that extraction of energy transition minerals will need to increase five-fold by 2050 to meet demand for clean energy technologies.”  

Alkhorayef went on to emphasize the large potential of the Africa, Western and Central Asia region in becoming a key bridge in the global transition.  

Since it possesses almost half of the global population and only contributes 11 percent to global gross domestic product, it shows ample room for growth.  

“This points to the high potential for the nearly 80 countries that make up the region, and a possibility to be a game changer in terms of optimizing technology, community engagement and responsible practices as a new industrial revolution begins,” he said. 

Alkhorayef also stressed the importance of trust of all stakeholders involved, including upstream, midstream and downstream, as well as the vitality of collaborating together as a region.  

“Together, we have a stronger voice when decisions about our future are made. Together, we can shape the future of mining and minerals. Together, we can chart a course toward a future that is green and equitable.” 

The Future Minerals Forum is being held in Riyadh from Jan. 10 to Jan. 12, with an estimated 200 speakers from around the world expected to attend the event. 

The summit is set to tackle several topics, including sustainability, the future of mining, energy transition, the contribution of minerals to the development of societies, digital transformation, and integrated value chains.

The second edition of the FMF comes as Saudi Arabia’s mining sector is witnessing a rapid transformation and is attracting investors from around the globe.

According to geological surveys dating back 80 years, the Kingdom is thought to have an estimated reserve of untapped mining potential valued at $1.3 trillion.

However, with the prices of valuable minerals, especially gold, copper and zinc rising, the true value of the Kingdom’s current mineral wealth could be double that figure, CEO of the Saudi Geological Survey Abdullah Al-Shamrani said in September 2022.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
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
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
×