With the aluminum sector emerging as a significant contributor to a more sustainable future through clean energy, the mining and metals industry is slated to become the third pillar of the Saudi industrial base, capitalizing on the Kingdom’s rich mineral deposits.
Saudi Arabia is a significant investor in the aluminum sector, allocating more than $12 billion to it, according to Khalid Al-Mudaifer, Saudi vice minister for mining affairs.
“We look forward to doubling this figure,” Al-Mudaifer told Asharq Al-Awsat on the sidelines of the opening ceremony of the 25th Arab International Aluminum Conference in Riyadh, represented by Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and organized by “Maaden.”
Al-Mudaifer explained that the Kingdom aims to be one of the top 10 global producers of aluminum with a complete value chain.
He highlighted aluminum as a crucial modern metal with extensive future applications in renewable energy, electric vehicles, aerospace, and other industries due to its substantial usage.
“The mining and metals strategy was launched in 2018, and since then, the Kingdom has been actively implementing it,” affirmed Al-Mudaifer, noting that the country has achieved significantly positive results, with major projects already underway.
Al-Mudaifer emphasized that the metals and aluminum sector is a cornerstone of Saudi Arabia’s national transformation plan, “Vision 2030,” serving as a fundamental base for economic transformation and diversification away from oil.
He reported over SAR120 billion ($32 billion) in investments in the metal industries in Saudi Arabia.
