7.3 Billion Tons of Potential Phosphate Reserves in Saudi Arabia

7.3 Billion Tons of Potential Phosphate Reserves in Saudi Arabia

The world will need to increase the production of some types of minerals by 500% to meet the future demand for clean energy, according to Saudi Vice Minister of Industry and Mineral Resources for Mining Affairs Khalid Saleh Al-Mudaifer.

Saudi Arabia has become one of the most prominent countries in the field of producing phosphate fertilizers, with potential reserves of phosphate amounting to 7.3 billion tons, revealed Al-Mudaifer.

Al-Mudaifer made the remarks during the Mines and Money conference in London.

The vice minister further explained that minerals are indispensable for achieving the process of energy transition to renewable sources, which requires expanding the scope of finds and increasing production.

The World Bank estimated that there is a need for more than 3 billion tons of minerals and metals.

By 2050, the world will need to increase the production of minerals such as “graphite, lithium, cobalt, and copper” by about 500% to meet the future demand for clean energy technologies.

Al-Mudaifer highlighted the advances that Saudi Arabia has already made in its mining industry. As he noted, the significant potential for the Kingdom largely lies in precious and base metals—including gold, zinc, copper, and silver in addition to a few specialty metals such as niobium and tantalum.

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