Riyadh, December 05, 2023, Dubai, United Arab Emirates: Minister of Industry and Mineral Resources, Bandar bin Ibrahim Alkhorayef, underscored the critical role of the mining sector in supporting the global energy transition. Speaking at the third Saudi Green Initiative Forum 2023 in Dubai, Alkhorayef highlighted the sector's significance in producing essential minerals and metals for green, renewable energy sources, electric vehicles, and other industries crucial for meeting the growing global demand.
Alkhorayef outlined Saudi Arabia's objectives, focusing on enhancing the diversity and security of vital metals' value chains. The Kingdom aims to achieve this by optimizing data exploitation and extraction through extensive regional surveys, expediting license issuance, reducing energy costs, increasing investment volumes, and leveraging strategic locations.
Recognizing the responsibility that comes with being a key source of natural resources globally, Alkhorayef emphasized the Kingdom's commitment to the transition towards sustainable and equitable mineral supply chains. He highlighted the International Future Minerals Forum (FMF) and its Ministerial Round Table as essential platforms for international cooperation and dialogue, acknowledging that no single country can achieve the necessary transition alone due to the extensive minerals and metals required in the energy sector.
