Saudi Arabia seeks to localize mineral processing: Alkhorayef

Minister of Industry and Mineral Resources Bandar Alkhorayef said Saudi Arabia’s mining strategy is centered on localizing processing and manufacturing. He noted that the ministry’s name clearly reflects the Kingdom’s direction to link mining with industry, the Saudi Press Agency reported.

This statement came during a press conference in Riyadh following the international ministerial meeting held as part of the fifth edition of the Future Minerals Forum.

Alkhorayef indicated that this approach is not merely a strategic option, but rather stems from the Kingdom's unique competitive advantage, represented by the integration of abundant mineral resources, energy availability, and a strategic geographic location.

The minister revealed plans to establish a specialized platform to balance supply and demand and identify local needs, noting that the Kingdom will export surpluses of certain minerals while addressing shortages in others.

At the level of the international ministerial meeting, Alkhorayef highlighted the record growth in participating countries, with the number rising from 25 countries in the first edition to more than 100 countries and 59 international organizations this year. This underscores the forum’s evolution into a platform leading a global agenda related to the future of mining and minerals.

For his part, Vice Minister for Mining Affairs Khalid Al-Mudaifer addressed the strategic importance of rare earth elements, stressing that they have become the backbone of the modern economy due to their use in industries such as robotics, electric vehicles, and magnets.

Al-Mudaifer emphasized that the Kingdom is working through the National Minerals Program to ensure the availability of these minerals for domestic industries.

Regarding support for development in Africa, the vice minister said the Kingdom is working with international partners to establish logistics corridors and comprehensive infrastructure for energy, water, and transportation to enable African countries to harness their mineral wealth, in addition to stimulating exploration activities.