KSA Aims to Be Among Top 10 Aluminum Producers
Deputy Minister of Industry and Mineral Resources for Mining Affairs Khalid Al-Mudaifer, unveiled Saudi Arabia’s mining strategy aiming to rank the Kingdom among the top 10 aluminum producers globally by 2030. Saudi Arabia aspires to achieve this strategy by 2030.
Strategic Minerals: Aluminum and Bauxite
The Ministry classified bauxite and aluminum as strategic minerals. This classification is based on their importance in shifting to clean energy.
They aim to double the bauxite production capacity, quadruple aluminum production, and triple primary aluminum production.
Saudi Arabia’s Rich Mineral Wealth
During the Arabal International Aluminum Conference, Al-Mudaifer highlighted Saudi Arabia’s rich mineral resources, estimated at over $1.3 trillion.
The country possesses World class infrastructure, investment power, and a well-educated young workforce. These factors position it.
KSA, since launching Vision 2030, has been aspiring to be a global hub in mineral production. The Kingdom’s competitive energy prices and geographical location will enable it to do this.
Embracing the Circular Economy
Saudi Arabia commits to leading in the circular economy. By 2030, the country plans to expand its aluminum recycling capacity by sixfold, using advanced technologies. Thus, this initiative aligns with environmental sustainability standards.
Aluminium’s Global Significance
Al-Mudaifer pointed out that the region is home to some of the world’s largest aluminum productions, representing about 10% of global production.
With an expected rise in global demand for aluminum by 20-30% by 2030, opportunities for growth in demand across various industrial sectors will also be created.
Aluminium’s Role in Diverse Industries
Aluminium is essential in countless industries, including traditional sectors like transportation, construction, and food packaging.
Moreover, it’s also crucial in energy transformation industries such as electric vehicles, renewable energy sources, and energy storage systems. Therefore, this marks its strategic importance for the future.
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