Future Minerals Forum Yields SAR 27 Billion in Deals as Super-Region Takes Center Stage

The first day of the highly anticipated third edition of the Future Minerals Forum (FMF), organized by the Ministry of Industry and Mineral Resources, witnessed a flurry of activity as 20 agreements and memorandums of understanding were signed. These agreements, valued at a total of SAR 27 billion, involved government agencies, companies, and other organizations participating in the forum.

According to a statement received by Argaam, these agreements covered various aspects related to mining exploration, technology ands communications, sustainability standards implementation, localization efforts, qualification programs, and industrialization initiatives within the minerals sector. Additionally, details about 33 exploration sites available this year were unveiled during the forum. Notably, Jabal Sayid was introduced as the first mining belt open for exploration in an expansive region spanning 4,000 square kilometers.

Prominent participants in signing these agreements included Saudi Arabia's Ministry of Industry and Mineral Resources along with key entities such as the Ministry of Investment; Royal Commission for Jubail and Yanbu; Saudi Geological Survey; Saudi EXIM Bank; and Saudi Mining Polytechnic (SMP).

Joining them were notable players like Saudi Mining Services Company; Moxico Ajlan & Bros Mining; Saudi Aramco; Al-Haytham Mining Company; Manara Minerals; Vale; Geological Survey of Finland; Maaden; Japan Organization for Metals and Energy Security (JOMES); SABIC (Saudi Basic Industries Corporation); Export-Import Bank of the United States (EXIM Bank); Energy & Water Academy; as well as Al Fada Anode Production Company.

The third edition FMF commenced on January 10th with two days dedicated to addressing critical issues within the minerals sector. Building upon discussions from previous editions, this year's forum focuses on topics such as future prospects for minerals in the super region encompassing Africa, West Asia, and Central Asia; attracting investments to mineral industries in the region; leveraging advanced digital technologies within the sector; and implementing sustainable practices.

The Future Minerals Forum serves as a platform for industry leaders, experts, and stakeholders to collaborate on shaping the future of the minerals sector while driving economic growth and sustainability.

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