RIYADH, SAUDI ARABIA – The Ministry of Industry and Mineral Resources has signed four Memorandums of Understanding (MoUs) with the Democratic Republic of Congo (DRC), Egypt, Morocco, and Russia.
One of the aims of these MoUs is to foster international cooperation in minerals between Saudi Arabia and these countries.
According to the ministry, the agreements signed included MoUs for cooperation in mineral resources with the Ministry of Petroleum and Mineral Resources of Egypt, the Ministry of Energy Transition and Sustainable Development of the Kingdom of Morocco, and the Ministry of Mines of the DRC.
They also included an MoU for cooperation in the field of geology and mineral resources with the Ministry of Natural Resources and Environment of the Russian Federation.
This year, the Ministerial Roundtable has attracted the participation of 79 governments, 13 international organizations, 15 non-governmental organizations and seven business associations.
Hosted by Saudi Arabia, the roundtable and third edition of the Future Minerals Forum (FMF), which is held on January 10-11 in Riyadh aim to boost international collaboration to address the production of strategic minerals involved in the energy transition.
Recognizing the untapped mineral potential of the vast region spanning Africa, Western and Central Asia, the ministry stated that the FMF platform aims to lay the foundations for sustainable development throughout the mineral industry in the world and the region.
It also said that Thursday’s roundtable highlighted the need for stakeholders across government, industry and the private sector to strengthen efforts to build capacity and collaborate on initiatives in the minerals sector that achieve economic and social development for local communities.