Riyadh, Saudi Arabia – The Saudi Arabia’s Ministry of Industry and Mineral Resources (MIM) and Standard Chartered Bank (SCB) have signed a memorandum of understanding (MoU) to assess the requirements for sustainable investment in the mining sector in the Kingdom of Saudi Arabia, as per the objectives of Vision 2030.
In addition to promoting knowledge transfer, technology enablement, job creation and implementation of the Future Minerals Forum outcomes, the MOU encourages local and international investors to explore the investment opportunities in the mining and mineral sectors in Saudi Arabia.
The MOU also stipulates cooperation between the two parties with a view to accelerating the development of projects and investments in mining and mineral value chains, including green metals and battery components.
The signing ceremony was attended by Vice-Minister for Mining Affairs Khalid Al-Mudaifer, Global Head of Metals and Mining at SCB Richard Horrocks-Taylor, CEO of the Saudi Industrial Development Fund Prince Sultan bin Khalid bin Faisal Al Saud, MIM’s Assistant Deputy for Mining Development Turki Al Babtain, and the regional head of Client Coverage Corporate, Commercial and Institutional Banking for Africa and Middle East at SCB Sarmad Lone.
