Global mining experts are increasingly optimistic that Saudi Arabia will become a regional mining center for exploring investment opportunities and sector sustainability.
They have claimed that the kingdom serves as a platform for global dialogue on mining prospects.
This comes as Riyadh hosts the International Mining Conference, the largest of its kind in the Middle East from January 11 to 13.
The conference is expected to feature a roundtable discussion of ministers responsible for the mining sector and working sessions and workshops on investment attraction and the role of technology, the environment, and sustainability in the mining sector.
The mining conference, according to Brian Hosking, CEO of Gold & Minerals, will highlight the Middle East, Asia, and Africa’s immense opportunities and potentials.
He also noted that the mineral-rich Arabian Shield region and the Tethyan-Eurasia mineral belt are known to be capable of meeting a significant portion of the world’s growing demand for minerals and metals.
Hosking emphasized that the Arabian Shield region possesses critical minerals for electric car battery technology and wind turbines, which will help achieve sustainability.
He also pointed out that enormous quantities of minerals are desperately needed now and in the future.
Robert Friedland, the keynote speaker at the International Mining Conference and founder and co-CEO of Ivanhoe Mines in Canada, stated that the mining industry is an essential pillar of the world’s transition to a more sustainable future.
In addition, Douglas Kerwin, a well-known geologist and member of the Society of Economic Geologists, expressed his desire to achieve many positive outcomes through the conference’s sessions and events.
He noted that the aforementioned mineral resources are critical to global energy transformation and supply diversification.
Michael Naylor, CEO of EV Metals, said that the conference is a strategic choice for the region.
It fully aligns with the Saudi Vision 2030 and its plan to turn Saudi Arabia from a world leader in fossil fuel to a world leader in renewable energy.
According to Peter Bryant, President of the Development Partners Institute, the conference presents a unique opportunity to form a new regional mining hub that will help the region develop its resources and invent new mining methods to achieve reliable and sustainable mineral supply.
For his part, Christopher Ecclestone, mining strategist at Hallgarten & Company, said there is a need for a supportive business climate by global and regional mining businesses to maximize resources.
It is helpful that the International Mining Conference in Riyadh will build this atmosphere, he said.
According to Warren Irwin, president, and chief executive officer of Rosso Asset Management, the conference is also bringing together producers and investors to develop emerging economies’ massive undiscovered mineral resources in Asia, Africa, and the Middle East.
It’s worth mentioning that 12 Saudi government entities are participating in the conference, presenting investment opportunities via an integrated platform that includes all aspects of the investor’s journey in the Saudi mining sector and highlighting the most important investment opportunities in the region’s emerging markets.
The Ministry of Industry and Mineral Resources hopes that hosting the raise awareness about the Kingdom’s mining sector and the opportunities it provides for investors.