Saudi Arabia Reaffirms Commitment To Responsible Mineral Sourcing At Paris Peace Forum For Global Collaboration

The Ministry of Industry and Mineral Resources reiterated Saudi Arabia's dedication to ethical mineral sourcing and sustainable governance at the 8th Paris Peace Forum. This event, held at the Palais de Chaillot, focused on "New Coalitions for Peace, People, and the Planet." Eng. Turki Al-Babtain, Deputy Minister for Mining Development, participated in a panel titled "Security vs. Sustainability: The Hidden Costs of a Geopolitical Race for Minerals."

Al-Babtain highlighted that progress in the mineral sector hinges on cooperation rather than rivalry. He stated, "The world’s energy transition depends on a coordinated global effort." He stressed that both mineral shortages and lack of coordination pose challenges today. To prevent fragmentation and ensure stability, he advocated for a new collaborative framework linking transparency, finance, and technology under shared responsibility.

Saudi Arabia's mining transformation under Vision 2030 aims to balance economic diversification with environmental and social responsibility. The Kingdom is unlocking an estimated $2.5 trillion in mineral resources through the Regional Geological Survey Program. This initiative is one of the most extensive geochemical and geophysical mapping efforts of the Arabian Shield, covering 600,000 square kilometers.

To date, over 33,000 square kilometers have been tendered for exploration. By 2025, an estimated 50,000 square kilometers of mineralized investment opportunities are expected. Al-Babtain explained that this transformation is guided by a reformed Mining Investment Law enforcing strict ESG standards. It mandates community engagement and comprehensive environmental rehabilitation by investors.

These measures have attracted leading global mining companies such as Ivanhoe Electric, Vedanta, Hancock Prospecting, Zijin Mining, Discovery Group, and Kuya Silver to Saudi Arabia's mining sector. The sector has seen significant growth in exploration spending from $133.5 million in 2023 to $280.5 million in 2024. Additionally, active mining companies increased from six in 2020 to 226 in 2024.

The Future Minerals Forum (FMF), hosted annually in Riyadh, serves as a key platform for advancing global cooperation in minerals development. The forum gathers over ninety senior government officials from Africa, Asia, Europe, and the Americas to promote responsible mineral development and strengthen supply chains.

Future Minerals Forum Initiatives

Al-Babtain mentioned FMF's role in fostering dialogue on policy and sustainability through its government-led Ministerial Roundtable. Three flagship initiatives have been advanced: establishing Centers of Excellence across Africa and Asia for capacity-building; developing harmonized regulatory frameworks; and enhancing sustainable investment in critical minerals.

The Kingdom’s commitment to responsible sourcing was underscored during discussions with Ana Brnabić from Serbia’s National Assembly and Kadri Simson, former EU Commissioner for Energy. These dialogues emphasized collaboration over competition as essential for advancing the global mineral sector responsibly.

With inputs from SPA