Latest news with #SaudiMinistryofIndustryandMineralResources
Hindustan Times
06-05-2025
- Business
- Hindustan Times
Saudi Arabia, US to discuss deal in mining, mineral resources, cabinet says
CAIRO - Saudi Arabia is set to discuss a potential agreement with the United States about cooperation in the fields of mining and mineral resources, the Saudi cabinet said in a statement reported by the country's state news agency on Tuesday. Saudi Arabia, US to discuss deal in mining, mineral resources, cabinet says The statement did not provide the details of the "memorandum", which it said would be negotiated by the Saudi Ministry of Industry and Mineral Resources and the United States Department of Energy. The statement comes ahead of a visit by U.S. President Donald Trump to Saudi Arabia next week. Saudi Arabia has been rapidly expanding its mining sector as part of its Vision 2030 economic diversification program, which aims to wean the economy off of oil, with gold, phosphate rock and bauxite its main resources. The kingdom has also announced discoveries of extensive domestic resources and last year Saudi officials nearly doubled their estimate for the kingdom's minerals reserves to $2.5 trillion, largely due to the addition of rare earths. Reuters reported in April that Saudi Arabia's flagship mining company Ma'aden is considering choosing at least one of four foreign firms, including a U.S. company, to form a rare earths processing partnership. Ma'aden is weighing a partnership with U.S.-based MP Materials, China's Shenghe Resources, Australia's Lynas Rare Earths, or Canada's Neo Performance Materials sources told Reuters. Saudi Arabia has also grown its international mining presence, launching a joint venture between its sovereign wealth fund and Ma'aden, called Manara Minerals to invest in mining assets abroad. Manara's first major foray abroad was a deal to become a 10% shareholder in Vale's $26 billion copper and nickel spin-off Vale Base Metals in 2023. This article was generated from an automated news agency feed without modifications to text.
Leaders
03-04-2025
- Automotive
- Leaders
Industrial Transformation Saudi Arabia 2025 to Kick Off in December
Riyadh will host the Industrial Transformation Saudi Arabia exhibition in December 2025, reported the Saudi Press Agency (SPA). The prestigious event will feature collaboration between the Saudi Ministry of Industry and Mineral Resources, Riyadh Exhibitions Company, and Deutsche Messe AG, the organizer of Hannover Messe. Industrial Transformation Saudi Arabia The Industrial Transformation Saudi Arabia exhibition will focus on showcasing the latest innovations in the fourth industrial revolution, digital transformation, automation, smart manufacturing, and sustainable energy. The exhibition will serve as a strategic platform to explore advanced manufacturing technologies, focusing on key themes such as artificial intelligence (AI), Internet of Things (IoT), and 3D printing, as well as promoting the concept of 'smart factory' which helps in increasing production efficiency and quality. Aligning with Vision 2030 The Industrial Transformation Saudi Arabia comes at a time when the Kingdom is undergoing a rapid industrial transformation under Vision 2030, which aims to bolster the industrial sector and increase its contribution to the national economy. To this end, Saudi Arabia adopts strategies, such as the National Industrial Strategy, to raise the number of factories to more than 36,000 by 2035, with a focus on investment in cutting-edge technologies that enhance productivity and reduce operational costs. Industry Localization Furthermore, Saudi Arabia is localizing advanced industries, aiming to become a regional hub for manufacturing electric vehicles (EVs), semi-conductors, and precision engineering by attracting global companies and forging strategic partnerships with them to strengthen local capacities and foster knowledge transfer. The Kingdom also prioritizes developing industrial supply chains, by reducing reliance on imports and increasing the rate of local content, in addition to supporting Saudi non-oil exports by developing the logistical infrastructure to open new markets and enhance the Kingdom's global competitiveness. Moreover, Saudi Arabia enhances eco-friendly industries, through expanding factories that rely on renewable energy, adopting advanced manufacturing technologies that reduce carbon footprint, and supporting recycling projects. Collaboration with Hannover Messe Through cooperation with Hannover Messe, Saudi Arabia fosters its ties with major economies and industry leaders. Attracting more than 200,000 visitors and 7,000 exhibitors annually, Hannover Messe has been a key driving force in industrial transformation since 1947. The event is expected to achieve similar success this December and open a gateway for companies to explore promising opportunities in Saudi Arabia. Short link : Post Views: 1
Asharq Al-Awsat
24-02-2025
- Business
- Asharq Al-Awsat
Saudi Arabia Issues New Industrial Licenses for Aircraft Maintenance and Repair
The Saudi Ministry of Industry and Mineral Resources announced the issuance of new industrial licenses for aircraft maintenance, repair, and overhaul (MRO) services in the Kingdom. The announcement was made during the first edition of the Aerospace Connect Forum, held in Jeddah under the patronage of Minister of Industry and Mineral Resources Bandar Alkhorayef and organized by the National Industrial Development Center (NIDC). The newly introduced industrial licenses, launched in collaboration with the General Authority of Civil Aviation and the General Authority for Military Industries, cover various activities, including aircraft and drone maintenance and repair, navigational and electronic systems servicing, and comprehensive aircraft overhaul operations, said the ministry. The new licenses will allow investors to benefit from the advantages of industrial licensing, access government incentives and capabilities, and contribute to the development and localization of the Kingdom's aviation industry—a key sector targeted in the National Industrial Strategy.
