‎New mining explorations to boost Saudi Arabia’s mineral resources: Almudaifer

‎New mining explorations to boost Saudi Arabia’s mineral resources: Almudaifer

Saudi Arabia plays a key role in increasing future demand for minerals and their value chains, as minerals are used in the promising industries, including modern military industries, electronics, electric vehicles (EVs) and sustainable smart cities like NEOM and the Red Sea project.

Based on global consensus, demand for minerals in general and strategic minerals in particular is seen to increase significantly, due to the growth of mass movement to urban areas, higher population, the global economic growth and most importantly the energy conversion trends and the countries’ net zero emissions strategy, said Khalid Almudaifer, Vice Minister of Industry and Mineral Resources.

Speaking at a press briefing for the International Mining Conference today, Jan. 4,. Almudaifer indicated that this will accordingly create record levels of demand for strategic minerals to develop wind, solar and renewable energy projects, in addition to the production of EVs.

Saudi Arabia’s mining strategy and initiatives focused on the minerals required to implement the energy conversion, as well as the EVs production, while leveraging on the global expertise.

On a regional level, the Kingdom is geographically located in the center, and accordingly, can exchange its mining expertise with the other countries, given the Kingdom’s mining, industrial and economic boom.