Industry Minister Urges International Cooperation To Secure Mineral Supplies At Davos 2026

Minister of Industry and Mineral Resources Bandar Alkhorayef stated that deeper international cooperation and joint cross-border solutions are vital to secure metal supplies and keep the global energy transition on track. Speaking at the World Economic Forum (WEF) 2026 in Davos, Alkhorayef said that no country can develop a safe, successful mining sector alone.

The minister explained that mining is treated in Saudi Arabia as a core element of economic diversification under Vision 2030. Alkhorayef described the industry as a long-range investment in sustainable national growth. He noted that this economic shift is already visible through higher non-oil GDP contributions and record levels of non-oil exports from the Kingdom.

Alkhorayef stressed that regulatory reform is essential to attract capital into global mineral supply chains and into Saudi projects. He highlighted the need for governments to simplify procedures and give investors clarity. Saudi Arabia has shortened the processing period for mining licences to between 30 and 90 days, far quicker than many other jurisdictions.

The minister added that faster licensing alone is not enough to secure global mineral supply chains. He underlined that rules must also protect communities and the environment. Saudi Arabia’s new mining law, he said, places community development and environmental care at its centre, and uses modern technology to move away from traditional, high-impact mining practices.

Discussing international engagement, Alkhorayef underlined Saudi Arabia’s commitment to multilateral work on global mineral supply chains. He pointed to the Future Minerals Forum (FMF) as a key platform that the Kingdom hosts. The FMF brings together governments, industry leaders, financiers, and technology companies to discuss critical minerals and long-term resource security.

Alkhorayef said the FMF has helped push critical minerals higher on the agendas of international organisations, including the World Bank. He noted that the forum also strengthens partnerships across Africa, the Middle East, and Central Asia. This resource-rich area is often described as the "Super Region", reflecting its shared potential for supplying minerals needed in the energy transition.

Turning to regional development, Alkhorayef argued that structural change in Africa’s mining sector demands investment beyond individual projects. He pointed out that shared infrastructure such as ports, railways, and logistics networks is essential. In some countries, he said, transportation alone can account for up to 30% of total mining costs, which reduces competitiveness.

Alkhorayef described these infrastructure gaps as a collective challenge for global mineral supply chains. He called for international co-investment and cooperation to build common corridors and services that can support several countries. According to Alkhorayef, such joint projects are needed to unlock value from deposits and to ensure benefits reach local communities.

The minister delivered his remarks during a session titled "Geopolitics of Materials", which examined how governments and companies can keep mineral supply chains stable during geopolitical shifts. Alkhorayef said Saudi Arabia’s active role at WEF 2026 reflects its intent to be a practical partner in building a more stable and sustainable global economy.

Alkhorayef concluded that building the "mines of the future" requires trust from nearby communities, solid environmental standards, and supportive regulation alongside investment. He said Saudi Arabia’s domestic reforms, combined with initiatives like the Future Minerals Forum, show how the Kingdom aims to support both its own transformation and more secure global mineral supply chains.

With inputs from SPA