Mining Exploration Program aims to reduce investment risks: Alkhorayef

Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef

Minister of Industry and Mineral Resources, Bandar bin Ibrahim Alkhorayef, stated that the Mining Exploration Enablement Program aims to reduce investment risks and share the exploration journey with investors, focusing on critical and strategic minerals in the Kingdom.

The minister added that the program will support the Kingdom’s economic diversification efforts and enhance its global standing as a preferred region for mineral exploration and investment in the mining sector, Saudi Press Agency reported.

The program will accelerate local company growth, foster a vibrant ecosystem for entrepreneurship and innovation, improve geological knowledge, and open new exploration areas by providing technical data in accordance with global best practices and innovative technologies.

Alkhorayef emphasized the program's importance in achieving Saudi Vision 2030 goals, including raising the value of the Kingdom’s mineral wealth to over SAR 9 trillion.

The Ministry of Industry and Mineral Resources and the Ministry of Investment invited mining companies and explorers worldwide to register for the Mining Exploration Enablement Program, as part of the Kingdom's efforts to enhance and develop the mining sector and transform it into the third pillar of national industries in line with the goals of Vision 2030, according to data compiled by Argaam.