The International Mining Conference kicks off in Riyadh: Investments and opportunities worth 9.4 trillion riyals
Riyadh – The Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef, inaugurated today (Wednesday) the fifth edition of the Future Minerals Forum, hosted by the Saudi capital, Riyadh, at the King Abdulaziz International Conference Center. The event is witnessing an unprecedented global attendance of over 20,000 participants and features a distinguished lineup of 400 speakers, including ministers, CEOs of major mining companies, and representatives of international organizations and financial institutions.
A global platform for decision-making
In his opening remarks, Al-Khuraiji emphasized that the conference has transcended its role as a platform for dialogue, becoming a global driver for shaping influential economic policies and mobilizing high-quality investments. He noted that this year's theme, "Minerals: Facing the Challenges of a New Era of Development," reflects the commitment of the Kingdom and the international community to move from theoretical discussions to concrete, practical steps.
This event is gaining increasing strategic importance in light of international competition to secure critical mineral supply chains, as the Kingdom has successfully positioned itself as a pivotal hub for the region stretching from Africa to West and Central Asia, a region viewed as the most important future supplier of minerals needed for advanced industries.
Results of the ministerial meeting and the energy transition
The Minister reviewed the outcomes of the Fifth International Ministerial Meeting, which saw record participation from over 100 countries and 59 international organizations. He emphasized that the world is undergoing major transformations, most notably the revolution in artificial intelligence applications and the accelerating shift in the energy sector—transformations that cannot be achieved without ensuring sustainable and responsible access to strategic minerals. The meeting resulted in agreements to support centers of excellence and adopt responsible mining standards, in line with the World Bank's strategies.
Record numbers in exploration and investment
In reviewing national achievements, Al-Khorayef revealed qualitative leaps made by the Kingdom in line with Vision 2030, as the volume of spending on exploration operations increased more than fivefold, jumping from one million riyals in 2020 to 1.052 billion riyals in 2024. He announced the completion of the geophysical and geochemical survey of the Arabian Shield at 100%, which enhances the accuracy of the geological data available to investors.
He affirmed the Kingdom’s commitment to accelerating the investment of its mineral wealth, estimated at approximately 9.4 trillion riyals, noting the allocation of more than 33,000 square kilometers to local and international companies through transparent competitive rounds, the latest of which was the ninth round, which saw the awarding of 172 mining sites.
Initiatives to enable infrastructure
On the sidelines of the conference, the Minister of Industry announced the launch of a strategic initiative to enhance mining infrastructure in cooperation with the Saudi Authority for Industrial Cities and Technology Zones (MODON). The first project under this initiative includes the construction of a 75-kilometer treated water pipeline, aimed at supporting industrial development in the Jabal Sayid area and accelerating the pace of mining projects, reflecting the integration of government entities to serve investors.
The conference also coincides with the launch of new investment funds designed to support the mineral value chain, confirming the maturity of the Saudi mining sector and its attractiveness to global capital seeking sustainable opportunities in a promising sector.
