Latest news with #FutureMineralsForum
Leaders
16-07-2025
- Business
- Leaders
Industry Vice Minister Emphasizes Regional Cooperation in Mining
At the fourth annual Egypt Mining Forum, held in Cairo on July 15–16, Eng. Khalid bin Saleh Al-Mudaifer, Vice Minister of Industry and Mineral Resources for Mining Affairs, highlighted the critical need to strengthen regional cooperation in the mining and minerals sector. Speaking during a panel titled 'Attracting Strategic Partners and Junior Exploration Companies to Drive Sustainable Growth in the Mining Sector,' Al-Mudaifer applauded Egypt's integration of mining with downstream industries. He emphasized the untapped opportunities in East Africa and West Asia, describing the region as one of the least explored but most promising globally. 'With the right vision and integration between mining and industry — as demonstrated by the Kingdom's experience — this region can deliver transformative development,' he said. Saudi Arabia's Mining Success Al-Mudaifer shared Saudi Arabia's progress in developing its mining industry. Since 2019, the number of exploration companies in the Kingdom has grown from six to over 132, with 60% being startups. He highlighted the role of foreign investors and joint ventures, which now make up 70% of these companies, attributing this success to comprehensive regulatory reforms. The Vice Minister noted the involvement of Egyptian service companies in Saudi Arabia and called for expanded cross-border cooperation. This includes strengthening supply chains, empowering SMEs, and increasing the sector's impact on job creation and economic development. Al-Mudaifer urged stakeholders to invest in integrated regional mining ecosystems that support collective success. He stressed the role of platforms like the Egypt Mining Forum and the Future Minerals Forum in aligning efforts across governments, investors, innovators, and service providers. In his closing remarks, Al-Mudaifer announced that the fifth annual Future Minerals Forum will be held in Riyadh from January 13 to 15, 2026. He extended an invitation to continue strategic discussions, build partnerships, and realize the mineral potential of resource-rich regions including Africa, Central Asia, and West Asia. Cooperation Opportunities On the sidelines of the forum, Al-Mudaifer held bilateral meetings with ministers, CEOs, and investors. Discussions centered on attracting investment, enhancing capabilities, and developing sustainable mining ecosystems both in Saudi Arabia and the broader region. The Egypt Mining Forum brought together global mining leaders, investors, and government officials, reinforcing its role as a vital platform for dialogue and cooperation in the international mining sector. Related Topics: Mining in Mauritania: A Leading Sector with Promising Horizons Saudi Arabia Showcases Mining Exploration Opportunities to Leading UK Firms Ministry of Industry Launches Women in Mining Non-Profit Organization Short link : Post Views: 18
Saudi Gazette
11-07-2025
- Business
- Saudi Gazette
Saudi minister explores strategic industrial and mining partnerships with top Russian firms
Saudi Gazette report MOSCOW — Saudi Minister of Industry and Mineral Resources Bandar AlKhorayef held a series of high-level meetings with executives from leading Russian industrial and mining companies during his official visit to the Russian Federation, aimed at expanding investment partnerships and exploring new opportunities in mining and manufacturing. AlKhorayef met with the CEO of Alrosa, the world's largest diamond mining company, where they discussed opportunities for collaboration in mineral production and processing. The minister highlighted Saudi Arabia's enabling investment environment for mining ventures. He also held a strategic meeting with the CEO of VSMPO-AVISMA, the world's largest titanium producer, to discuss knowledge exchange and industrial cooperation. The discussions explored joint efforts in producing and processing titanium for use in aviation, automotive, and other advanced industries. Saudi Arabia currently produces around 16,000 tons of titanium sponge annually, roughly 10% of global output, alongside 500,000 tons of titanium slag, primarily in a separate meeting with the CEO of Nordgold, a major gold mining firm, AlKhorayef reviewed Saudi Arabia's upcoming 2025 mineral exploration opportunities, covering 50,000 square also discussed sustainable mining practices, advanced technologies, and knowledge minister also met with the Chairman of the Russian Aluminum Association, which oversees more than 80% of Russia's aluminum value reiterated the Kingdom's ambition to become a global and regional hub for aluminum Arabia currently produces 1.8 million tons of primary aluminum annually, with plans to scale up to 3 million Kingdom is targeting increased domestic demand across key sectors like aviation, packaging, automotive, and Russia's role as the second-largest aluminum producer after China, the discussions underscored potential joint investment in the full aluminum value invited Russian mining leaders to participate in the 5th edition of the Future Minerals Forum, scheduled for January 2026 in Riyadh, which positions Saudi Arabia as a leader in shaping the future of the global mining Arabia is estimated to hold $2.5 trillion worth of untapped mineral resources, including gold, copper, phosphate, and rare earth Kingdom has overhauled its mining investment regulations to attract local and international investors. Under Vision 2030, the mining sector's contribution to GDP is expected to rise from $17 billion in 2024 to $75 billion by 2030, making it the third pillar of Saudi the industrial sector, AlKhorayef held talks with executives from major Russian companies, including United Confectioners Limited—the largest confectionery producer in Eastern discussed investment opportunities in food manufacturing and modern food production Arabia's food market is the largest in the Middle East, valued at SR184 billion in 2023 and projected to reach SR248 billion by Kingdom is actively seeking over SR78 billion in industrial food investments through the National Industrial like the newly launched Jeddah Food Cluster, the world's largest specialized industrial food complex, reinforce Saudi Arabia's role as a regional leader in food also met with the Chairman of Salavat Steklo, one of Russia's largest manufacturers of float glass, to explore industrial cooperation and investment opportunities in the materials sector. The talks emphasized the Kingdom's robust incentives for industrial investors.
Arabian Business
09-07-2025
- Business
- Arabian Business
Saudi Arabia highlights $2.5tn mineral wealth and industrial roadmap at INNOPROM 2025 in Russia
Saudi Arabia has unveiled bold plans to reshape its industrial future and accelerate global leadership in advanced manufacturing and critical minerals during INNOPROM 2025 in Yekaterinburg, Russia. Speaking at a strategic session titled 'Technological Leadership: Industrial Breakthrough,' Minister of Industry and Mineral Resources Bandar Alkhorayef laid out the Kingdom's vision to become a global force in future technologies and Industry 4.0 innovation. The announcement comes as Saudi Arabia was honoured as a strategic partner at this year's INNOPROM exhibition—highlighting its increasing international engagement in industrial cooperation and technological advancement. Saudi Arabia industrial strategy A National Industrial Strategy built on three pillars: Localising critical industries including food, pharmaceuticals, water, and defence Leveraging natural resources such as oil, gas, and minerals for advanced petrochemicals and mining Pioneering future sectors including AI, 3D printing, and smart manufacturing (Industry 4.0) Strong focus on R&D, local content development, and technology adoption incentives Alkhorayef announced that the Kingdom's mineral wealth is now estimated at $2.5tn, up from $1.3tn, thanks to extensive geological surveys. Key resources include phosphate, copper, iron ore, zinc, and other strategic minerals vital for the energy transition and industrial supply chains. The Future Minerals Forum (FMF)—hosted annually in Riyadh since 2022—has emerged as a global platform for dialogue on mineral resilience and responsible sourcing, uniting governments, investors, academia, and industry experts across the value chain. The minister highlighted the alignment between Saudi Vision 2030 and Russia's economic diversification goals, pointing to shared priorities in digital transformation, innovation, and non-oil growth. He referenced the establishment of the Saudi-Russian Joint Committee in 2002 and the opening of the Saudi Commercial Attaché office in Moscow in 2022 as pivotal steps in deepening bilateral cooperation.
Saudi Gazette
07-07-2025
- Business
- Saudi Gazette
Alkhorayef emphasizes Saudi keenness on leveraging Russia's industrial expertise
Saudi Gazette report MOSCOW — Minister of Industry and Mineral Resources Bandar Alkhorayef met with Russian Minister of Industry and Trade Anton Alikhanov in Moscow. During the meeting, they discussed opportunities to advance cooperation in industrial development, manufacturing localization, and mining-sector partnerships. Alkhorayef emphasized the Kingdom's interest in leveraging Russia's industrial expertise, particularly in heavy equipment, agricultural machinery, chemicals, automotive, manufacturing, and advanced materials — sectors that complement Saudi Arabia's National Industrial Strategy. They also explored building effective investment partnerships to take advantage of available opportunities in knowledge and technology transfer, innovation, and industrial research. They reviewed the most prominent quality investment opportunities in Saudi Arabia's promising industrial sectors and the enablers provided to facilitate investors' journeys. During the meeting, Alkhorayef was accompanied by Saudi Ambassador to the Russian Federation Abdulrahman Al-Ahmad, National Industrial Development Center (NIDC) Chief Executive Saleh Al-Solami, Saudi Authority for Industrial Cities and Technology Zones (MODON) Chief Executive Majed Al-Argoubi, and Saudi Export Development Authority Chief Executive Eng. Abdulrahman Althukair. Both sides emphasized their commitment to developing non-oil exports and facilitating their access between the two countries, aiming to contribute to the growth of trade and achieve economic diversification in both Saudi Arabia and Russia. Alkhorayef invited Alikhanov to Saudi Arabia to participate in the Future Minerals Forum (FMF), scheduled to take place in Riyadh on January 13–15, 2026. The meeting is part of the Kingdom's ongoing efforts to strengthen international industrial partnerships and expand bilateral cooperation in line with the objectives of Saudi Vision 2030. Saudi Pavilion at INNOPROM 2025 inaugurated Bandar Alkhorayef inaugurated the Saudi pavilion at INNOPROM 2025 in Yekaterinburg, Russia, where Saudi Arabia is participating as a partner country from July 7 to 10. INNOPROMi s an international industrial exhibition that brings together manufacturers and buyers from around the world. The Saudi pavilion offers a comprehensive program of activities highlighting the Kingdom's industrial capabilities, special economic zones, and investment ecosystem. Key presentations will cover advanced infrastructure, financial enablers provided by the Saudi Industrial Development Fund and Saudi EXIM Bank, and initiatives driven by the National Industrial Strategy. The Kingdom's most reputable companies are showcasing innovative products and technologies to visitors, while bilateral meetings between Saudi and Russian industry leaders will explore mutual avenues for collaboration and investment to promote growth within the industrial sector. Alkhorayef is leading a high-level Saudi delegation, accompanied by senior officials from 18 government entities and more than 20 leading national companies. These organizations represent priority sectors including industrial services, technology, manufacturing, machinery, mining, industrial automation, energy, tourism, and culture. Government entities at the Saudi pavilion include the ministries of industry and mineral resources, investment, and energy, and entities under the umbrellas of 'Saudi Made,' 'Invest Saudi,' and 'Visit Saudi.' Also participating are the Zakat, Tax and Customs Authority, Economic Cities and Special Zones Authority, the Saudi Investment Promotion Authority, and the Premium Residency Center, along with several Public Investment Fund companies such as NEOM, New Murabba Development Company, and ROSHN Group. The INNOPROM platform provides an opportunity for Saudi Arabia to reaffirm its commitment to global industrial cooperation and international investment. The Kingdom aims to enhance its role as a trusted economic partner, attract foreign investment, and establish long-term partnerships to support knowledge transfer, localize advanced technologies, and strengthen industrial and mining supply chains, while aligning with its broader objective of increasing non-oil exports. Saudi Arabia and Russia's economic relations have witnessed significant growth in recent years, particularly in the fields of industry, mining, petrochemicals, and advanced manufacturing. Bilateral non-oil trade increased from $491 million in 2016 to $3.28 billion in 2024, reflecting the deepening partnership between the two countries.
Arab News
30-06-2025
- Business
- Arab News
Saudi Arabia pitches $2.5tn mining sector potential to Canadian firms
JEDDAH: Canadian companies have been presented with exploration opportunities in Saudi Arabia's mining sector during a roundtable in Vancouver. Officials from the Kingdom's Ministry of Industry and Mineral Resources presented investment options to representatives from 25 firms, outlining the goals of the government's Comprehensive Mining Strategy, according to the Saudi Press Agency. The speakers also highlighted the competitive advantages of the Kingdom's investment environment and its ongoing efforts to develop the mining sector, maximizing its contribution to economic diversification. The initiative is part of the Ministry of Industry and Mineral Resources' ongoing efforts to attract high-quality investments to Saudi Arabia's mining sector, with the Kingdom's mineral wealth estimated at around SR9.3 trillion ($2.48 trillion). this effort also includes the Future Minerals Forum, launched in 2022 as an annual international conference where global mining leaders collaborate, share knowledge, and tackle key industry challenges and opportunities. The Vancouver meeting is one of a number set to be held ahead of the fifth edition of the Kingdom's Future Minerals Forum in January, and according to SPA: 'Roundtable participants reaffirmed FMF's vital role in shaping the future of the global mining sector and developing effective solutions to its challenges amid ongoing shifts in the energy and industrial landscapes.' The report added that the ministry also held a seminar with investors in Toronto, where it also presented promising investment opportunities in the Kingdom's mining sector. The meetings build on the momentum of high-level engagement between Canada and Saudi Arabia, including Industry Minister Bandar bin Ibrahim Alkhorayef leading a delegation to Ottawa and Toronto in October to advance bilateral cooperation following the restoration of diplomatic ties in May 2023. The visit also highlighted Saudi Arabia's interest in Canada's expertise in digital financial technologies, geological surveying, and human capacity development, aligning with the Kingdom's efforts to build a knowledge-based, innovation-driven mining sector under Vision 2030. In 2023, the Kingdom's non-oil exports to Canada totaled SR140 million, mainly consisting of base metals and plant products. In contrast, non-oil imports from Canada reached SR2.89 billion, including locomotives, pharmaceuticals, optical and imaging equipment, and electrical devices.
