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)
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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.



WGC: Gold Investment Hits 3-year High in 1st Quarter on Trade Turmoil

FILE PHOTO: Gold bangles are displayed at a jewellery store in Mumbai, India, March 20, 2025. REUTERS/Francis Mascarenhas/File Photo
FILE PHOTO: Gold bangles are displayed at a jewellery store in Mumbai, India, March 20, 2025. REUTERS/Francis Mascarenhas/File Photo
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WGC: Gold Investment Hits 3-year High in 1st Quarter on Trade Turmoil

FILE PHOTO: Gold bangles are displayed at a jewellery store in Mumbai, India, March 20, 2025. REUTERS/Francis Mascarenhas/File Photo
FILE PHOTO: Gold bangles are displayed at a jewellery store in Mumbai, India, March 20, 2025. REUTERS/Francis Mascarenhas/File Photo

Global gold demand including over-the-counter (OTC) trading rose by 1% year-on-year to 1,206 metric tons in the first quarter of 2025 as investment jumped 170%, the World Gold Council said on Wednesday.

Spot gold prices are up 26% so far this year and have hit multiple record highs as first-quarter investment demand hit the highest since the first quarter of 2022, when global markets were grappling with the immediate consequences of Russia's invasion of Ukraine.

"It's been a bumpy start to the year for global markets as trade turmoil, unpredictable US policy announcements, sustained geopolitical tensions and a return of recessionary fears have created a highly uncertain environment for investors," the WGC's senior markets analyst Louise Street said.

Driving up investment demand were massive inflows into physically backed gold exchange-traded funds and 14% growth in demand for gold bars in the first quarter, Reuters reported. That offset a 32% slump in demand for coins.

However, bar and coin investment in China rose 12% to 124.2 tons, the highest level since the second quarter of 2013's record high, said the WGC, an industry body whose members are global gold miners.

Amid high prices, global gold jewelry consumption, the key category of physical demand, fell 21% to 380.3 tons, the lowest level since the 2020 pandemic.

Central banks, another major source of gold demand, cut purchases by 21% to 243.7 tons in the first quarter, the WGC calculated, based on reported purchases and an estimate of unreported buying.

"While this level of demand was 21% lower year-on-year, it remains robust and in line with the quarterly average for the last three years of sustained, strong buying," it added.

For the full year, the WGC expects gold investment to continue gathering pace and central banks to repeat buying close to the range seen over the past three years due to elevated trade-related risks.