The Minister of Industry and Mineral Resources confirmed that Saudi Arabia aims to increase the contribution of mining to its GDP from 17 to 64 billion dollars by 2030.
In his speech at the opening of the International Mining Conference on behalf of the Custodian of the Two Holy Mosques, Bandar Al-Khorayef added that the value of the Kingdom’s mineral wealth is estimated at $1.3 trillion, including phosphate and bauxite minerals in the northeast, gold, copper and rare earth deposits in the Arabian Shield, west of the Kingdom.
He said, “The challenge of meeting the growing global demand for minerals has become clear as a result of trends in the fields of advanced industry, clean energy, and zero-carbon ambitions. Through the international mining conference, which is launched under the title “The Future of Minerals”, Saudi Arabia aims to contribute to responding to the future needs of the mining sector by gathering the owners of The multiple interests of governments, investors, financial institutions, service providers and manufacturers, and providing a platform for cooperation between them to draw a future road map aimed at achieving sustainable development for our societies and economies by expanding the contribution of this important and promising sector. Today we have a great opportunity to contribute to the provision of vital minerals and benefit from the mining sector be an engine It is a major economy in the countries of the region, especially as they face the same challenges of the need to increase exploration, provide adequate infrastructure and attract quality investments. Let us all seize this opportunity and push for the sustainable development of mining in our countries and the entire region.
And he indicated that the launch of the conference comes as a sense from the Kingdom of the importance of the mining sector in the world and its impact on economic recovery and its great impact on the future of many industries that represent a great priority and enter into the details of our daily lives by working to highlight the great and promising potentials in the field of mining, minerals and mining industries that enjoy the regions The Middle East, West and Central Asia and the Continent of Africa, and the Kingdom occupies a strategic position among these countries combined.