Riyadh, January 11, 2024, As part of the Ministerial Roundtable preceding the third edition of the Future Minerals Forum (FMF) in Riyadh, the Ministry of Industry and Mineral Resources has solidified international partnerships by signing four significant Memorandums of Understanding (MoUs). These agreements, inked with the Democratic Republic of Congo (DRC), Egypt, Morocco, and Russia, aim to foster cooperation in the field of minerals between Saudi Arabia and these nations.
The signed MoUs encompass collaboration 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. Additionally, an MoU for cooperation in the realm of geology and mineral resources was established with the Ministry of Natural Resources and Environment of the Russian Federation.
This year's Ministerial Roundtable has attracted substantial participation, with 79 governments, 13 international organizations, 15 non-governmental organizations, and seven business associations joining the dialogue. Hosted by Saudi Arabia, the roundtable and FMF collectively seek to enhance international collaboration, especially in addressing the production of strategic minerals crucial to the global energy transition.
Recognizing the untapped mineral potential across Africa, Western and Central Asia, the Ministry of Industry and Mineral Resources emphasized the FMF platform's goal to lay the groundwork for sustainable development in the global and regional mineral industry.
During the roundtable discussions, the participants underscored the imperative for stakeholders across government, industry, and the private sector to intensify efforts in building capacity and collaborating on initiatives within the minerals sector. The overarching objective is to achieve economic and social development for local communities, emphasizing the importance of collective action in advancing the minerals industry on a global scale.
