Islamabad, August 02, 2023, Saudi Vice Minister of Industry and Mineral Resources for Mining Affairs Eng. Khalid bin Saleh Al-Mudaifer has said the mining industry is an important economic development driver in countries around the world, stressing that mineral wealth has played a crucial role in bolstering industries, creating job opportunities, and achieving economic growth.
Al-Mudaifer made these remarks at the Pakistan Minerals Summit 2023, held in Islamabad, in which he takes part. He noted that the mining sector abounds in promising opportunities that should be grasped based on new regulatory standards that take into account best environmental, social, and institutional governance practices. He also highlighted the significance of leveraging modern technologies and investing in infrastructure and human resources.
"These are the aspirations we seek to achieve through our presence in Pakistan, in collaboration with our partners in the industrial, mineral wealth, and private mining sectors," Al-Mudaifer said. He added that the two countries are working on expanding their already deep-rooted ties, particularly in trade and investment.
He also said that the mineral-rich region extending from Africa to West and Central Asia, including Pakistan, has immense potential that can be a game changer in the process of developing flexible and responsible mineral value chains, which is even more important in view of the soaring global demand for minerals essential to clean energy technologies. Al-Mudaifer said that the Kingdom of Saudi Arabia has been diligently working to develop its mining sector, including by carrying out the world's largest regional geological survey over an area of 600,000 square kilometers in the Arabian Shield region at a cost exceeding $1.5 billion.
