Minister Bandar Bin Ibrahim Alkhorayef Highlights Importance Of Critical Minerals For Global Supply Chain Security

Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef stressed the need to secure supply chains for essential minerals across Africa, West, and Central Asia. He noted that these resources are crucial for the global energy transition. Speaking at the Future Mining Forum in Riyadh, he pointed out the region's mineral wealth but limited global market contribution.

Alkhorayef called on countries that consume minerals to invest constructively to address this gap. He highlighted the development of Saudi Arabia's Northern Borders region as a model for successful mining investments. This area is rich in phosphate minerals and has seen significant infrastructure improvements, benefiting local communities.

The minister emphasized that the global shift towards sustainable energy relies heavily on effectively using regional mineral resources. He advocated for fair partnerships between mineral-producing and consuming nations. Such collaborations should focus on infrastructure investment and capacity-building in mineral-rich areas.

During the forum session, notable figures participated, including Brazilian Minister of Mines and Energy Alexandre Silveira and Helaina Matza from the U.S. State Department’s Partnership for Global Infrastructure and Investment (PGI). Moroccan Minister of Energy Transition Leila Benali and Gemcorp Capital Management's Lord Gerry Grimstone also contributed to discussions.

Alkhorayef highlighted Ma'aden’s role in enhancing infrastructure in Saudi Arabia's Northern Borders region. The company's efforts have improved residents' well-being by driving local community development through mining investments. These initiatives serve as examples of how targeted investments can unlock regional potential.

The minister concluded by advocating for sustainable partnerships between countries involved in mineral production and consumption. He stressed that bridging the gap between potential resources and opportunities is vital for a successful energy transition globally.

With inputs from SPA