Investments in mining sector created economic, social impact: Alkhorayef

Bandar Alkhorayef, Minister of Industry and Mineral Resources

Bandar Alkhorayef, Minister of Industry and Mineral Resources, stated that Saudi Arabia, thanks to its investments, managed to achieve an economic and social impact via the mining sector.

Addressing the third Ministerial Roundtable at the Future Minerals Forum today, Jan. 9, he noted efforts to enhance supplying countries capabilities to meet global future ambitions — a golden opportunity to review progress in mining, including implementing optimal legislation and developing standards and technologies.

The minister also pointed to the global shift towards cleaner energy. He highlighted that, in COP28, Saudi Arabia doubled its commitment for zero emissions under the Paris Agreements, emphasizing the need for rapid action to address challenges.

Focus must now be on the implementation phase, Alkhorayef added, stressing the importance of reaching key agreements to continue advancing the sector's ambitions.

He announced the establishment of a center for accelerating mineral innovation, in partnership with King Abdulaziz City for Science and Technology (KACST), the Saudi Ministry of Industry and Mineral Resources, the National Industrial Development and Logistics Program (NIDLP), and the Saudi Geological Survey.