Alkhorayef recommends platform for mineral resources to address challenges, solutions

Bandar Alkhorayef, Minister of Industry and Mineral Resources

There must be a platform that brings together governments entities, private companies, financial institutions and others to address challenges faced by the mining sector, explore opportunities, and discuss future solutions, Minister of Industry and Mineral Resources Bandar Alkhorayef said.

In his speech at the Future Minerals Forum in Riyadh today, Jan. 11, Alkhorayef added that the region from Africa to Central Asia provides about 33% of the world's mineral resources.

He explained that the platform will enhance the region’s contribution to the global supply chain for minerals, while ensuring that this is done in the best way to maximize its economic and social impact.

The mining community is taking a step forward to meet the sector’s challenges and shows that everyone is interested in maximizing and strengthening the minerals and metals sector to meet higher demand, which is rising due to the ongoing investments in technology and the efforts made to achieve zero neutrality.

He expected the conference to enhance collaboration between the sector players and reveal the latest technical developments, in addition to discuss partnerships and investments.

This sector has proven its desire for change by learning from recent challenges in order to build a better future for mining, he said.

Alkhorayef pointed to the huge potential in the region, indicating that the future will be for the minerals sector as many other sectors rely on it, including technology, renewable energy, and even food security.

Mining sector must adopt new technologies in the production and manufacturing processes to ensure production quantities with high quality.

Thus, a strong supply chain will be built while meeting the needs, and many supply chains will be explored.

Alkhorayef referred to the Saudi experience in the mining sector, noting that one of the most important, efficient, and reliable legislative and regulatory frameworks was designed in the Kingdom and provided the required incentives in the sector.