Mining commodity exchange in final stages: Al-Mudaifer

Khalid Al-Mudaifer, Vice Minister of Industry and Mineral Resources for Mining Affairs

Khalid Al-Mudaifer, Vice Minister of Industry and Mineral Resources for Mining Affairs, said the study of the commodity exchange is in its final stages, with final touches underway to launch a global mining commodity exchange — a strategic step to strengthen the Kingdom’s position as a key hub in natural resource trade.

He explained that Saudi Arabia’s financial sector is currently developing the necessary laws and regulations to support the market, ensure governance, and protect it in line with the expectations of investors and participants in Riyadh, Eqtisadiah newspaper reported.

Al-Mudaifer noted that the sector needs financing and traders to ensure the launch of a competitive commodity market in Riyadh, capable of performing on a global scale.

He added that the broad participation expected in the upcoming 5th Future Minerals Forum in January will represent a real turning point in linking mining to global value chains and will cement the Kingdom’s role as an influential player in the international economic landscape.