Saudi Arabia Showcases Vision For Integrated Mining Sector At IGF Annual Meeting In Geneva

Saudi Arabia participated in the 21st annual general meeting of the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF) in Geneva, Switzerland. The Kingdom showcased its vision for an integrated mining sector that connects investment with innovation and industry. This initiative aims to enhance economic diversification and position Saudi Arabia as a prime destination for global mining investments.

The Ministry of Industry and Mineral Resources has launched significant initiatives to boost the exploration sector. A comprehensive geophysical and geochemical survey program covers over 600,000 square kilometers of the Arabian Shield, with 80% completed. Data from these surveys is accessible to investors through the National Platform. Additionally, investment opportunities span 33,000 square kilometers of mineral belts via the Taadeen platform.

Abdulrahman AlBelushi, Deputy Minister of Mineral Resources Management, was elected vice-chair of the executive council for Central Asia, Eastern Europe, and the Middle East during the meeting. This appointment underscores member countries' trust in Saudi Arabia's influential role in advancing global mining governance and fostering sustainable development through regional and international partnerships.

AlBelushi highlighted that Saudi Vision 2030 is transforming the mining sector from traditional extraction to a diversified industrial approach. This shift focuses on job creation and sustainable economic growth. He stated that mining now drives industrial development and supports Saudi Arabia's transition towards clean energy.

The Kingdom's efforts have led to significant progress in global rankings. In Canada's Fraser Institute Annual Survey of Mining Companies 2024, Saudi Arabia rose from 104th place in 2013 to 23rd globally in the Investment Attractiveness Index. This improvement reflects successful reforms aimed at enhancing the investment climate and regulating the sector effectively.

Global Cooperation and Supply Chain Stability

AlBelushi emphasized cooperation between mineral-producing and consuming nations to stabilize global supply chains. "Saudi Arabia leads international efforts through the Future Minerals Forum," he said. The international ministerial roundtable meeting also plays a crucial role as a voice for regions including Africa, West and Central Asia, and Latin America.

The ministry plans to issue exploration licenses for over 50,000 square kilometers of mining sites by 2025. These initiatives are part of broader strategies to attract investments and foster growth within the sector.

The Kingdom's active participation in forums like IGF demonstrates its commitment to sustainable development in mining. By integrating investment with innovation, Saudi Arabia aims to strengthen its position as a leading player in the global mining industry while supporting economic diversification goals.

With inputs from SPA