Latest news with #KhalidAl-Mudaifer
Leaders
19-05-2025
- Business
- Leaders
Saudi Arabia to Establish First Tinplate Production Plant in Region
Al Watania for Industries has signed a partnership agreement with China's Donghexin (DHX) Group to establish the first tinplate production plant in Saudi Arabia and the Middle East, according to the Saudi Press Agency. Under the patronage of Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef, the signing ceremony marked the attendance of Vice Minister for Mining Affairs Eng. Khalid Al-Mudaifer, Chairman of the DHX Group Li Dong, along with Chairman of the Board of Directors of Al Watania for Industries Mosaed Al-Ohali. Set to be located in Ras Al-Khair Industrial City, the new plant will meet the growing needs for metal packaging solutions. Importantly, half of the production will be dedicated to serving the domestic market, while the other half will be exported. Promisingly, the project will offer more than 500 direct job opportunities and rely on environmentally friendly technologies. With an annual production capacity of 400,000 tons, the project will begin commercial operations in mid-2027. In line with Saudi Vision 2030 objectives, the new facility will play a pivotal role in diversifying the national economy, localizing industrial technologies, and expanding the Kingdom's manufacturing base. The launch of the project represents a significant milestone toward localizing the supply chain for the packaging sector and addressing domestic demand for tinplate and tin-free steel (TFS). These materials are so essential for economic development especially when it comes to significant industries such as food and beverage, paints, oils, and chemicals. Related Topics: Hyundai Breaks Ground on First Saudi Manufacturing Plant Saudi Arabia Leads the World in Desalinated Water Production Short link : Post Views: 10
Zawya
05-05-2025
- Business
- Zawya
$355 mln spent on Saudi metal exploration
Saudi Arabia has spent nearly 1.33 billion Saudi riyals ($355 million) on exploration for metals within a drive to develop its massive mineral industry and diversify its oil-reliant economy, a senior Saudi official has said. The investments do not include spending by companies awarded mining contracts following the enforcement of a landmark mining investment law six years ago. 'The government has so far spent nearly SAR1.33 billion on mining exploration…this demonstrates its commitment to the development of minerals sector,' said Khalid Al-Mudaifer, deputy Industry and Mineral Resources Minister. Addressing a mining conference in Istanbul, Turkey, at the weekend, Al-Mudaifer said the number of mining exploration companies in the Gulf Kingdom jumped from only six in 2020 to 133 at the end of 2023. The estimated value of the country's mineral wealth has also been massively revised up from around SAR 5 trillion ($1.33 trillion) to SAR9.4 trillion ($2.5 trillion), he added. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Arab News
03-05-2025
- Business
- Arab News
Saudi-Turkish ministers discuss enhancing cooperation in mining sector, joint investment
ISTANBUL: Saudi Deputy Minister for Industry and Mineral Resources Khalid Al-Mudaifer met Alparslan Bayraktar, Turkiye's minister of energy and natural resources, and Mehmet Yilmaz, president of the Turkish Miners' Association, in Istanbul. During the meeting, the two sides discussed ways to enhance cooperation in the mining sector as well as joint investment opportunities in the field of minerals, the Saudi Industry Ministry wrote in a post on X. The meeting was held at the Istanbul Natural Resources Summit, which brought together experts, leaders and policymakers to explore 'evolving global and regional dynamics in energy and resource security.'
Zawya
03-03-2025
- Business
- Zawya
Is Saudi Arabia richer in minerals than oil?
When Saudi Aramco decided to evaluate itself a few years ago, it came up with a figure close to $2 trillion given the enormous oil deposits the Gulf Kingdom sits on. Fast forward to 2022, the value of the Kingdom's mineral resources was estimated at around SAR 5 trillion ($1.33 trillion), which has now soared to around SAR9.3 trillion ($2.48 trillion), thanks to massive discoveries over the past three years. 'The Kingdom has made large strides in the development of its mining sector,' Deputy Saudi Industry and Mineral Resources Minister Khalid Al-Mudaifer was quoted last week as saying by the Saudi daily Al-Madina. 'This was coupled with a large investment flow into the investments along with an unprecedented expansion in mining exploration has boosted the Kingdom's mineral wealth from SAR 5 trillion to SAR9.3 trillion.' Mudaifer, who was addressing a promotion seminar on Saudi in the US Miami city, said a landmark mining law introduced by Riyadh five years ago boosted the number of mining investment firms from 6 in 2020 to 133 at the end of 2023. Last month, the Industry and Mineral Resources Ministry said it has completed nearly 90 percent of a survey of a targeted area of around 400,000 square kilometres (sq km). Over the past two years, the Kingdom announced that exploration operations have resulted in significant discoveries of gold, zinc and copper in the Arabian Shield region, which exceeds one third of Saudi Arabia's total area. In 2024, Oil Minister Prince Abdul Aziz bin Salman revealed at the Future Minerals Forum in the capital Riyadh that significant quantities of uranium and titanium have been discovered in various explored areas. He also confirmed that Saudi Arabia has 'an abundance of metals and minerals and is developing the structure and partnerships that would fully exploit them. The last major contracts awarded by Saudi Arabia to mine prospectors were in November, when six large mining sites covering an area of nearly 850 sq km were offered to local and foreign investors. These awards boosted the total number of mining and mineral exploration licenses issued by the Kingdom over the past five years to nearly 2,295. These include more than 200 for mining exploration, 42 for prospecting minerals and 23 surplus mineral resources licenses. The Vision 2030 economic transformation plan aims to more than quadruple the mining sector's contribution to GDP from around $17 billion in 2019 to $75 billion in 2035. When Saudi Aramco concluded that valuation, experts said it was based on an oil price of $8 a barrel and crude reserves of about 258 billion barrels. It was not clear how much of those reserves could be extracted. (Writing by Nadim Kawach; Editing by Anoop Menon)
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
