The Saudi Council of Ministers, in its session on Tuesday headed by Crown Prince and Prime Minister Prince Mohammed bin Salman, agreed to establish a national minerals program linked to the Ministry of Industry and Mineral Resources.
On his part, the Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, said that the program will be a strong and supportive tool to enhance the quality of supply chains for minerals.
It will also play an active role in driving growth paths in the mineral sector and exploiting the mineral wealth that the Kingdom possesses.
Enhancing Quality of Supply Chains
Al-Khorayef emphasized that the National Minerals Program aims to unify the main roles among various parties and fill existing gaps to ensure mineral supply chain continuity. It will also build local capabilities, support exploration and ensure their supply to local industries and international projects, according to the Saudi Press Agency (SPA).
Al-Khorayef also highlighted that the program’s establishment affirms the leadership’s interest in the mineral sector. He emphasized that the Kingdom aims to develop mineral value chains, making the mining sector the third pillar of the national industry. Furthermore, the Kingdom also seeks to leverage its strategic geographical location to ensure economic development and sustainability.
The “National Minerals Program,” associated with the Ministry of Industry and Mineral Resources, focuses on optimizing supply chains for both current and future minerals. Ultimately, this initiative aims to improve the continuity of mineral supply chains at regional and global levels.
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