The Saudi Ministry of Industry and Mineral Resources argues in London conference: “Saudi Arabia will become a leader in the sustainable production of metals, for the benefit of the net-zero transition.”

The Saudi Ministry of Industry and Mineral Resources argues in London conference: “Saudi Arabia will become a leader in the sustainable production of metals, for the benefit of the net-zero transition.”

London: International delegates and global mining investors attending London’s Mines and Money conference have heard how Saudi Arabia is arguing that the energy transition from hydrocarbons to renewables is opening the path for it to become a global leader in the sustainable and innovative production of minerals and metals, especially since a vast, new and largely untapped minerals super-region is emerging, stretching from Africa to central Asia.

His Excellency Khalid Al-Mudaifer, Vice-Minister for Mining Affairs, Ministry of Industry and Mineral Resources, in a keynote address at the event said that minerals are indispensable to the energy change to renewables:

“Decarbonization – the net-zero transition – cannot happen without minerals and metals: a lot of minerals and metals. We need to scale up discoveries and we need to scale up production. The World Bank says that by 2050 the production of minerals such as graphite, lithium, cobalt and copper needs to increase by nearly 500% to meet the future demand for clean energy technologies. To achieve a ‘below 2°C increase’ future, the Bank estimated that more than 3 billion tons of minerals and metals are required.

As the transition accelerates, mineral and metal supply chains need to become more resilient. The pandemic and the