Riyadh to Host Third Edition of Int’l Future Minerals Forum

The Second Edition Future Minerals Forum in 2022 (SPA)
The Second Edition Future Minerals Forum in 2022 (SPA)
TT
20

Riyadh to Host Third Edition of Int’l Future Minerals Forum

The Second Edition Future Minerals Forum in 2022 (SPA)
The Second Edition Future Minerals Forum in 2022 (SPA)

The Saudi Ministry of Industry and Mineral Resources announced the third edition of the Future Minerals Forum (FMF) at the King Abdulaziz International Conference Center in Riyadh under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz.

The Ministry explained that the third edition will build on previous editions of FMF, offering a deep dive into a broad spectrum of topics and critical issues facing the global minerals industry, including sustainability practices and standards, developing green and future minerals value chains, and attracting investments in the super region.

It also aims to integrate knowledge and technology in mining operations and assert the role of the minerals sector in developing local economies and societies.

FMF is an essential platform for the super region, which stretches from Africa to West and Central Asia, bringing together industry leaders, investors, policymakers, and experts to shape the future of the minerals sector collectively.

The Forum is an essential platform for the super region, which stretches from Africa to West and Central Asia, bringing together industry leaders, investors, policymakers, and experts to shape the future of the minerals sector collectively.

The Minister of Industry and Mineral Resources, Bandar al-Khorayef, confirmed that the international conference is considered the most important in the world, with the support of King Salman and Crown Prince Mohammed bin Salman.

Khorayef pointed out that the conference's third edition will include the supply and demand of the most used mineral, playing a crucial role in the global shift towards clean energy.

It will establish a platform for discussion between metal-producing and consuming countries and ensure continuity of investment in the sector, starting with mines, manufacturing, refining, and processing operations.

"Recognizing the sector's challenges, there's an urgency to develop a clear roadmap and address the growing demand for critical minerals essentials for energy transition. We must facilitate dialogue, decision-making, and collaboration among stakeholders to realize our ambitious energy transition goals," said the Minister.

He stressed that the third edition will continue as a pioneering platform to lay more foundations for participation in decisions and procedures.

The goals are shared between investors, mining companies, and parties worldwide and will also work to highlight the role that the targeted region can play in achieving the world's goals in green transformation.

The main events of FMF will take place on January 10-11, convening ministers, mining investment leaders, and several prominent figures and innovators from a cross-section of global minerals and mining companies.

The sessions will foster rich dialogue on industry trends, investments, and sustainable practices.



China’s Car Sales Rise in May, but Price Wars Cloud Outlook

 Amukelani Masungi, a worker, cleans the floor next to BYD vehicles on display at a BYD dealership in Sandton, South Africa, June 5, 2025. (Reuters)
Amukelani Masungi, a worker, cleans the floor next to BYD vehicles on display at a BYD dealership in Sandton, South Africa, June 5, 2025. (Reuters)
TT
20

China’s Car Sales Rise in May, but Price Wars Cloud Outlook

 Amukelani Masungi, a worker, cleans the floor next to BYD vehicles on display at a BYD dealership in Sandton, South Africa, June 5, 2025. (Reuters)
Amukelani Masungi, a worker, cleans the floor next to BYD vehicles on display at a BYD dealership in Sandton, South Africa, June 5, 2025. (Reuters)

China's car sales rose for a fourth consecutive month in May, but slower increases across major automakers highlighted concerns over aggressive price competition in the world’s largest auto market.

Sales grew 13.9% from a year earlier to 1.96 million vehicles last month, slowing from 14.8% growth in April, China Passenger Car Association (CPCA) data showed on Monday.

Sales of electric vehicles and hybrids rose 28.2% year on year, down from a 33.9% gain in April.

Leading EV maker BYD reported decelerating annual passenger vehicle sales growth to 14.1% last month from April's 19.4% despite a new round of subsidies and incentives late in the month.

Other major automakers, including Geely and Chery, also reported slower growth as the industry’s attention shifted to price wars that have raised concern over a potential market shakeout.

Authorities have warned that such price wars threaten the industry's long-term health, with the sentiments echoed by leading manufacturers such as BYD, Chery and Xiaomi.

The CPCA's secretary-general, Cui Dongshu, said the industry should focus on quality and technology innovation and that leading automakers should lower their sales targets for this year.

CPCA data also showed that car exports rebounded, rising 13.5% year on year in May, reversing a 2% decline in April.