KSA to Announce New Number on Saudi Mineral Wealth
Bandar Alkhorayef, Minister of Industry and Mineral Resources, disclosed that the estimate of Saudi mineral wealth previously valued at 1.3 trillion dollars is cautious. However, the ministry is updating these figures, considering new mineral discoveries and significant additional quantities.
Education and Industry Partnership
During the launch of a mining science and engineering program at King Fahd University of Petroleum and Minerals, Alkhorayef highlighted the role of Saudi Arabia 2030 Vision that opens a new chapter in growth and development, with innovative approaches.
Human Capital Development
Two Saudi Arabia 2030 Vision programs focus on human capabilities, under the patronage of Crown Prince Mohammed bin Salman:
- The Human Capability Development Program, aiming for globally competitive citizens with high education, training, and skills.
- The Research, Development, and Innovation Program, positioning Saudi Arabia among advanced countries in select sectors, fostering innovations and initiatives.
Global Interest in Mining
Alkhorayef noted the global attention to mining, driven by the world’s shift to zero emissions and renewable energy. Thus, this shift requires substantial Saudi mineral quantities. Saudi Arabia is keen on maximizing economic returns from the sector, avoiding past mistakes of other countries. The strategy focuses on added value through transformative operations.
Embracing Technological Transformation
The Kingdom sees the shift to new technologies as an opportunity to lead in resource sector development. This is crucial for creating new industries, especially in areas like 3D printing.
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