Decision-Makers Discuss in Riyadh Challenges of Global Mining Sector

Decision-Makers Discuss in Riyadh Challenges of Global Mining Sector

The Saudi capital will host next week an international conference to discuss the challenges facing the mining sector. (Ali Al Dhaheri)

The Saudi Ministry of Industry and Mineral Resources will organize on Jan. 11-13 in Riyadh, the International Mining Conference, which will be an opportunity for governments, companies and investors to discuss various issues and challenges facing the sector in the past two years.

Challenges of the Sector

In this context, the Global Mining Risk Survey 2021 report, issued by KPMG International, noted that the disruption of global supply chains posed a future challenge for the sector, adding that the cyclical fluctuations in global resource markets presented some difficulties for the mining sector.

With the market frequently unstable, the report said that mining companies must plan ahead, while boosting their use of scarce natural resources and pressing for cost solutions. It also stressed the need to increase focus on social responsibility programs.

According to the report, mining companies need to develop a more accurate view of the markets in which they operate, in order to chart the direction in which commodity prices are likely to head and make the right strategic decisions.

Sector Response

The reported noted that although the coronavirus pandemic has caused an economic recession