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Leaders
27-02-2025
- Business
- Leaders
Saudi Arabia Announces SR375 Billion Mining Investment Opportunities
Saudi Arabia has unveiled a SR375 billion mining investment strategy through 2035 to establish itself as a global mining leader. Eng. Khalid Al-Mudaifer, Deputy Minister of Industry and Mineral Resources, confirmed SR75 billion already funds active projects under this strategy. The plan supports Vision 2030's goals, prioritizing mining to diversify the economy and drive industrial growth nationwide. Vision 2030 Sparks Mining Sector Transformation At the BMO Global Metals, Mining, and Critical Minerals Conference in Miami, Al-Mudaifer discussed Vision 2030's impact. The initiative modernized Saudi Arabia's mining laws and attracted domestic and international investors through programs like the National Minerals Program. Government partnerships with private firms have attracted major global companies. These companies seek access to Saudi Arabia's mineral reserves. These reserves now value SR9.3 trillion, rising from SR5 trillion in recent years. HE Vice Minister for Mining Affairs, Eng. Khalid AlMudaifer, highlighted the promising investment opportunities in Saudi Arabia's mining and mineral sector as part of #Vision2030, emphasizing the Kingdom's role in enhancing the sustainability of global supply chains and… — وزارة الصناعة والثروة المعدنية (@mimgov) February 26, 2025 A dramatic 22-fold increase in exploration companies operating in the Kingdom, from six in 2020 to 133 in 2023, reflects soaring global demand for critical minerals. Annual exploration spending has surged by 32%, far exceeding the global average of 6-8%, with total investments reaching SR1.33 billion. These efforts have not only unlocked new reserves but also created jobs, directly supporting Vision 2030's economic diversification goals. Saudi Arabia Eyes Long-Term Global Competitiveness Moreover, Al-Mudaifer emphasized that the mining sector is now central to the Kingdom's economic strategy. By fostering public-private partnerships and leveraging its mineral wealth, Saudi Arabia aims to solidify its position as a key supplier of critical minerals. The Kingdom, through sustained investment and strategic alliances, will dominate the global mining landscape for decades. Saudi Arabia's SR375 billion mining investment plan exemplifies its unwavering commitment to Vision 2030. As exploration expands and international partnerships strengthen, the Kingdom is well on its way to transforming its mining sector into a driver of sustainable economic growth and global leadership. Short link : Post Views: 16
Zawya
27-02-2025
- Business
- Zawya
Saudi Arabia unveils $100bln in mining investment opportunities
RIYADH – Saudi Arabia has announced a massive investment opportunity in its mining sector, worth SR375 billion by 2035. Deputy Minister of Industry and Mineral Resources for Mining Affairs Eng. Khalid Al-Mudaifer revealed that SR75 billion in investments are already underway. This move highlights the Kingdom's continued push to position itself as a leading player in the global mining and manufacturing industries. Al-Mudaifer shared this exciting news during a session at the BMO Global Metals, Mining, and Critical Minerals Conference in Miami. The conference, which took place from Sunday to Wednesday, brought together industry leaders to discuss the future of mining and critical minerals. Al-Mudaifer highlighted how Saudi Arabia's Vision 2030, a long-term plan to diversify the economy and reduce dependence on oil, has placed mining at the heart of the Kingdom's economic transformation. Under Vision 2030, the mining sector has been identified as one of the country's three key pillars for industrial growth. The government has worked hard to modernize laws, create national programs like the National Minerals Program, and foster private sector involvement to attract both domestic and international investments. These efforts have been successful in attracting major global companies looking to capitalize on the Kingdom's rich mineral resources. Al-Mudaifer pointed out that the value of Saudi Arabia's mineral wealth has skyrocketed in recent years, from SR5 trillion to an estimated SR9.3 trillion. This increase reflects both the growing value of the resources and the progress the Kingdom has made in unlocking the full potential of its mining sector. Perhaps the most impressive development has been the surge in exploration activities. The number of exploration companies operating in Saudi Arabia has increased dramatically, from just six in 2020 to 133 in 2023. This 22-fold increase in just three years demonstrates the growing interest in the country's mining potential. In total, Saudi Arabia has spent SR1.33 billion on exploration, with annual spending growing by 32% — far above the global average of 6-8%. This investment is not only helping to uncover new mineral reserves but is also creating jobs and boosting the Kingdom's economic diversification goals. The Kingdom's focus on exploration is paying off. With the rise of global demand for critical minerals, Saudi Arabia is positioning itself as a key supplier in the global market. As Al-Mudaifer noted, the mining sector is rapidly becoming a central pillar of the Kingdom's economic strategy. By attracting international companies and fostering public-private partnerships, Saudi Arabia is set to continue its growth as a mining hub for the next decade and beyond. In conclusion, the SR375 billion investment in Saudi Arabia's mining sector is a testament to the Kingdom's commitment to Vision 2030 and its determination to become a leader in the global mining industry. With ongoing investments in exploration and a growing number of international partnerships, Saudi Arabia is well on its way to transforming its mining sector into a major economic driver, supporting both its long-term sustainability and global competitiveness. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Saudi Gazette
27-02-2025
- Business
- Saudi Gazette
Saudi Arabia unveils SR375bn in mining investment opportunities
Saudi Gazette report RIYADH – Saudi Arabia has announced a massive investment opportunity in its mining sector, worth SR375 billion by 2035. Deputy Minister of Industry and Mineral Resources for Mining Affairs Eng. Khalid Al-Mudaifer revealed that SR75 billion in investments are already underway. This move highlights the Kingdom's continued push to position itself as a leading player in the global mining and manufacturing industries. Al-Mudaifer shared this exciting news during a session at the BMO Global Metals, Mining, and Critical Minerals Conference in Miami. The conference, which took place from Sunday to Wednesday, brought together industry leaders to discuss the future of mining and critical minerals. Al-Mudaifer highlighted how Saudi Arabia's Vision 2030, a long-term plan to diversify the economy and reduce dependence on oil, has placed mining at the heart of the Kingdom's economic transformation. Under Vision 2030, the mining sector has been identified as one of the country's three key pillars for industrial growth. The government has worked hard to modernize laws, create national programs like the National Minerals Program, and foster private sector involvement to attract both domestic and international investments. These efforts have been successful in attracting major global companies looking to capitalize on the Kingdom's rich mineral resources. Al-Mudaifer pointed out that the value of Saudi Arabia's mineral wealth has skyrocketed in recent years, from SR5 trillion to an estimated SR9.3 trillion. This increase reflects both the growing value of the resources and the progress the Kingdom has made in unlocking the full potential of its mining sector. Perhaps the most impressive development has been the surge in exploration activities. The number of exploration companies operating in Saudi Arabia has increased dramatically, from just six in 2020 to 133 in 2023. This 22-fold increase in just three years demonstrates the growing interest in the country's mining potential. In total, Saudi Arabia has spent SR1.33 billion on exploration, with annual spending growing by 32% — far above the global average of 6-8%. This investment is not only helping to uncover new mineral reserves but is also creating jobs and boosting the Kingdom's economic diversification goals. The Kingdom's focus on exploration is paying off. With the rise of global demand for critical minerals, Saudi Arabia is positioning itself as a key supplier in the global market. As Al-Mudaifer noted, the mining sector is rapidly becoming a central pillar of the Kingdom's economic strategy. By attracting international companies and fostering public-private partnerships, Saudi Arabia is set to continue its growth as a mining hub for the next decade and beyond. In conclusion, the SR375 billion investment in Saudi Arabia's mining sector is a testament to the Kingdom's commitment to Vision 2030 and its determination to become a leader in the global mining industry. With ongoing investments in exploration and a growing number of international partnerships, Saudi Arabia is well on its way to transforming its mining sector into a major economic driver, supporting both its long-term sustainability and global competitiveness.
Yahoo
10-02-2025
- Business
- Yahoo
Alcoa President and Chief Executive Officer William Oplinger to Participate in BMO 2025 Global Metals, Mining & Critical Minerals Conference
PITTSBURGH, February 10, 2025--(BUSINESS WIRE)--Alcoa Corporation President and Chief Executive Officer William F. Oplinger will participate in a live webcast session at the BMO Global Metals, Mining & Critical Minerals Conference in Hollywood, Florida, on February 25, 2025. At 9:30 a.m. EST, Oplinger will participate in a question-and-answer session regarding Alcoa's business and outlook in the current market, including factors that could affect the present quarter's financial results. A slide presentation, to be used in connection with the conference and investor meetings will be available on the "Investors" section of Alcoa's website, beginning at approximately 7:00 a.m. EST on Monday, February 24, 2025. A live audio webcast of the session will be available on the "Investors" section of Alcoa's website, A transcript and audio replay will also be available after the session on the "Investors" section of About Alcoa Corporation Alcoa (NYSE: AA, ASX: AAI) is a global industry leader in bauxite, alumina, and aluminum products with a vision to reinvent the aluminum industry for a sustainable future. With a values-based approach that encompasses integrity, operating excellence, care for people and courageous leadership, our purpose is to Turn Raw Potential into Real Progress. Since developing the process that made aluminum an affordable and vital part of modern life, our talented Alcoans have developed breakthrough innovations and best practices that have led to greater efficiency, safety, sustainability, and stronger communities wherever we operate. Dissemination of Company Information Alcoa intends to make future announcements regarding company developments and financial performance through its website, as well as through press releases, filings with the Securities and Exchange Commission, conference calls, media broadcasts, and webcasts. Cautionary Statement on Forward-Looking Statements This session will contain statements that relate to future events and expectations and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as "aims," "ambition," "anticipates," "believes," "could," "develop," "endeavors," "estimates," "expects," "forecasts," "goal," "intends," "may," "outlook," "potential," "plans," "projects," "reach," "seeks," "sees," "should," "strive," "targets," "will," "working," "would," or other words of similar meaning. All statements by Alcoa Corporation that reflect expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements regarding forecasts concerning global demand growth for bauxite, alumina, and aluminum, and supply/demand balances; statements, projections or forecasts of future or targeted financial results, or operating performance (including our ability to execute on strategies related to environmental, social and governance matters, such as our Green Finance Framework); statements about strategies, outlook, and business and financial prospects; and statements about capital allocation and return of capital. These statements reflect beliefs and assumptions that are based on Alcoa Corporation's perception of historical trends, current conditions, and expected future developments, as well as other factors that management believes are appropriate in the circumstances. Forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and changes in circumstances that are difficult to predict. Although Alcoa Corporation believes that the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that these expectations will be attained and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Such risks and uncertainties include, but are not limited to: (1) the impact of global economic conditions on the aluminum industry and aluminum end-use markets; (2) volatility and declines in aluminum and alumina demand and pricing, including global, regional, and product-specific prices, or significant changes in production costs which are linked to London Metal Exchange (LME) or other commodities; (3) the disruption of market-driven balancing of global aluminum supply and demand by non-market forces; (4) competitive and complex conditions in global markets; (5) our ability to obtain, maintain, or renew permits or approvals necessary for our mining operations; (6) rising energy costs and interruptions or uncertainty in energy supplies; (7) unfavorable changes in the cost, quality, or availability of raw materials or other key inputs, or by disruptions in the supply chain; (8) our ability to execute on our strategy to be a lower cost, competitive, and integrated aluminum production business and to realize the anticipated benefits from announced plans, programs, initiatives relating to our portfolio, capital investments, and developing technologies; (9) our ability to integrate and achieve intended results from joint ventures, other strategic alliances, and strategic business transactions, including the recent acquisition of Alumina Limited; (10) economic, political, and social conditions, including the impact of trade policies and adverse industry publicity; (11) fluctuations in foreign currency exchange rates and interest rates, inflation and other economic factors in the countries in which we operate; (12) changes in tax laws or exposure to additional tax liabilities; (13) global competition within and beyond the aluminum industry; (14) our ability to obtain or maintain adequate insurance coverage; (15) disruptions in the global economy caused by ongoing regional conflicts; (16) legal proceedings, investigations, or changes in foreign and/or U.S. federal, state, or local laws, regulations, or policies; (17) climate change, climate change legislation or regulations, and efforts to reduce emissions and build operational resilience to extreme weather conditions; (18) our ability to achieve our strategies or expectations relating to environmental, social, and governance considerations; (19) claims, costs, and liabilities related to health, safety and environmental laws, regulations, and other requirements in the jurisdictions in which we operate; (20) liabilities resulting from impoundment structures, which could impact the environment or cause exposure to hazardous substances or other damage; (21) our ability to fund capital expenditures; (22) deterioration in our credit profile or increases in interest rates; (23) restrictions on our current and future operations due to our indebtedness; (24) our ability to continue to return capital to our stockholders through the payment of cash dividends and/or the repurchase of our common stock; (25) cyber attacks, security breaches, system failures, software or application vulnerabilities, or other cyber incidents; (26) labor market conditions, union disputes and other employee relations issues; (27) a decline in the liability discount rate or lower-than-expected investment returns on pension assets; and (28) the other risk factors discussed in Alcoa's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and other reports filed by Alcoa with the SEC. Alcoa cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. Alcoa disclaims any obligation to update publicly any forward-looking statements, whether in response to new information, future events or otherwise, except as required by applicable law. Market projections are subject to the risks described above and other risks in the market. Neither Alcoa nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements and none of the information contained herein should be regarded as a representation that the forward-looking statements contained herein will be achieved. View source version on Contacts Investor Contact:Yolande Media Contact:Courtney Sign in to access your portfolio
