Agreements worth SAR 27B signed on Day 1 of FMF24

Future Minerals Forum (FMF) 2024 panel

The first day of the third edition of Future Minerals Forum (FMF), organized by the Ministry of Industry and Mineral Resources, saw the signing of 20 agreements and memorandums of understanding worth a total of SAR 27 billion between government agencies, companies and other organizations participating in the Forum.

In a statement received by Argaam, the ministry said that these included agreements connected with mining exploration, technology and communications, as well as the application of sustainability standards, localization, qualification and industrialization in the minerals sector. Also unveiled at the Forum were details of the 33 sites available for exploration this year, and the first mining belt to be made available for exploration in the region at Jabal Sayid, an area of 4,000 square kilometers.

Among the government agencies and private sector participating in signing these agreements and memorandums of understanding were Saudi Arabia’s Ministry of Industry and Mineral Resources, the Ministry of Investment, the Royal Commission for Jubail and Yanbu, the Saudi Geological Survey, the Saudi EXIM Bank, and the Saudi Mining Polytechnic (SMP).

Among those signing the agreements were the Saudi Mining Services Company, Moxico Ajlan & Bros Mining, Saudi Aramco, Al-Haytham Mining Company, Manara Minerals, Vale, the Geological Survey of Finland, Maaden, Japan Organization for Metals and Energy Security, SABIC, the Export-Import Bank of the United States, Energy & Water Academy, and the Al Fada Anode Production Company.

The third edition of FMF began on Jan. 10. Over the course of two days, FMF will address some of the most pressing issues for the minerals sector. It addresses the updates of the issues discussed in the second edition, especially the future of minerals in the super region, stretching from Africa to West and Central Asia, attracting investments to mineral industries in the region, deploying top-notch digital technologies in the sector, and applying the best sustainability standards.