Environment

Saudi Arabia has a stock of minerals worth SAR 5 trillion

The head of the Development Partners Institute and the Clario Consulting Company, Peter Bryant, confirmed that the Kingdom of Saudi Arabia has a stock of minerals estimated at about SAR 5 trillion.

 

He pointed out that the Saudi  Kingdom will be the destination of change that the world needs to transform into renewable energy.

 

He pointed out that it has a unique opportunity to adopt innovations that will support the minerals sector in the future.

 

Bryant emphasized the possibility of communicating with stakeholders in the sector, including investors and convincing them of the importance of relying on strategic minerals to reduce carbon emissions.

 

Reducing carbon emissions depends on the production of minerals.

 

Bryant explained that the mineral sector in Saudi Arabia absorbs the ideas and lessons gained from similar successful mining strategies around the world.

 

He pointed out that Saudi Arabia is seeking to develop a common vision and a vital roadmap for the sector.

 

Saudi Arabia has decided to discuss this matter at the meeting of ministers concerned with the mining sector. This meeting will be held on January 10, 2023, with the participation of representatives from 55 countries.

 

A report on the future outlook for the metals and mining industry, as well as how the Kingdom may play a significant role in the growth of the mineral sector at the regional level, was released by the International Mining Conference.

 

The report stressed that the future of reducing carbon emissions will not be achieved without large-scale metal production.

 

The report stressed that global demand for “strategic minerals” such as lithium, graphite, and nickel will increase by 2050.

Mining is more of a “giver” than a “taker”.

 

Peter Bryant said at the conclusion of the report that we should look at mining as a “giver” rather than a “taker”.

He added that additional steps must be taken to show communities, governments, and stakeholders how this industry benefits societies.

The International Mining Conference’s second iteration will take place from January 10 to 12, 2023. It will be attended by ministers, government representatives, and business executives, and CEOs of significant mining corporations.

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