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Unprecedented Participation Expected at International Mining Conference in Riyadh on Tuesday

Ali Al-Mutairi, general supervisor of the conference (Asharq Al-Awsat)
Ali Al-Mutairi, general supervisor of the conference (Asharq Al-Awsat)
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Unprecedented Participation Expected at International Mining Conference in Riyadh on Tuesday

Ali Al-Mutairi, general supervisor of the conference (Asharq Al-Awsat)
Ali Al-Mutairi, general supervisor of the conference (Asharq Al-Awsat)

Riyadh is preparing to host the fourth edition of the International Mining Conference on Tuesday under the patronage of King of Saudi Arabia Salman bin Abdulaziz.
This year’s event has drawn an unprecedented number of participants, with over 20,000 registrations. It will feature the attendance of global CEOs, industry leaders, and executives from related sectors, who will gather to tackle the mining sector’s key challenges and offer innovative, sustainable solutions to advance the industry’s future.
Ali Al-Mutairi, general supervisor of the conference, told Asharq Al-Awsat that the conference, running from January 14 to 16, will kick off with the fourth International Ministerial Meeting on Mining Affairs. The meeting will host senior government representatives from 85 countries, along with 50 leaders from multilateral organizations, NGOs, and business associations.
This year’s edition introduces several groundbreaking initiatives, including a “Knowledge Exchange Day,” which will serve as a platform to share the latest advancements in geology, technology, and sustainability.
Al-Mutairi also revealed that the event will host the first “Centers of Excellence and Technology Meeting,” designed to establish a regional network to develop expertise and accelerate innovation in mining.
Additionally, the second meeting of leaders from international geological survey organizations will take place, featuring prominent institutions such as the US Geological Survey, the British Geological Survey, the French Geological Survey, and the Finnish Geological Survey. This meeting aims to enhance global collaboration and leverage advanced technologies to drive sector development.
The conference is expected to see the signing of several agreements and memorandums of understanding between local and international stakeholders, reflecting Saudi Arabia’s commitment to establishing itself as a global mining hub. The event further supports efforts to foster international cooperation and sustainable development in this vital sector.
Over 250 prominent speakers, including senior executives and experts, will participate in this year’s conference. Their contributions will open avenues for international partnerships and help explore strategic investment opportunities in mining.
Under the theme “Achieving Impact,” the conference continues the international dialogue on the future of mining and minerals, with the aim to strengthen global cooperation to meet energy transition goals and advance modern industries.
Aligned with Saudi Arabia’s vision to position mining as a cornerstone of its national economy, the event will address critical topics such as exploration, technological innovation, sustainability, and value-added chains. The event highlights the country’s ongoing efforts to empower the mining sector and ensure it serves as a key pillar of economic growth and diversification.

 

 

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Business

World Bank to Partner with Global Vaccine Group Gavi on $2 Billion in Funding

The Vaccine Alliance (GAVI) logo and US flag are seen in this illustration taken April 23, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
The Vaccine Alliance (GAVI) logo and US flag are seen in this illustration taken April 23, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
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World Bank to Partner with Global Vaccine Group Gavi on $2 Billion in Funding

The Vaccine Alliance (GAVI) logo and US flag are seen in this illustration taken April 23, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
The Vaccine Alliance (GAVI) logo and US flag are seen in this illustration taken April 23, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

The World Bank Group said on Saturday it is working with global vaccine alliance Gavi to strengthen financing for immunization and primary healthcare systems, planning to mobilize at least $2 billion over the next five years in joint financing.

The two organizations will also work together to advance vaccine manufacturing in Africa as part of a World Bank goal to help countries reach 1.5 billion people with quality, affordable health services by 2030, Reuters quoted the World Bank as saying.

Gavi is a public-private partnership that helps vaccinate more than half the world’s poorest children against diseases.

"Our expanded collaboration with the World Bank Group reflects a long-standing joint effort to support countries as they build robust and resilient health systems," said Sania Nishtar, Gavi's chief executive.

US Health Secretary Robert F. Kennedy Jr. said in June the United States would no longer contribute funding to Gavi, alleging that the group ignores safety and calling on it to "justify the $8 billion that America has provided in funding since 2001."

The Trump administration had also indicated in March it planned to cut annual funding of around $300 million for Gavi as part of a wider pullback from international aid.

In June, Gavi had more than $9 billion, less than a target of $11.9 billion, for its work over the next five years helping to immunize children.

Other donors, including Germany, Norway and the Gates Foundation, have pledged money this year for Gavi's future work.

Business

Defying Trump, EU Hits X with $140 Million

(FILES) This illustration photograph shows the logo of social network X (formerly Twitter) and a photograph of CEO of social network X, Elon Musk displayed on a smartphone in Brussels on September 27, 2024. (Photo by Nicolas TUCAT / AFP)
(FILES) This illustration photograph shows the logo of social network X (formerly Twitter) and a photograph of CEO of social network X, Elon Musk displayed on a smartphone in Brussels on September 27, 2024. (Photo by Nicolas TUCAT / AFP)
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Defying Trump, EU Hits X with $140 Million

(FILES) This illustration photograph shows the logo of social network X (formerly Twitter) and a photograph of CEO of social network X, Elon Musk displayed on a smartphone in Brussels on September 27, 2024. (Photo by Nicolas TUCAT / AFP)
(FILES) This illustration photograph shows the logo of social network X (formerly Twitter) and a photograph of CEO of social network X, Elon Musk displayed on a smartphone in Brussels on September 27, 2024. (Photo by Nicolas TUCAT / AFP)

Elon Musk's social media company X was fined 120 million euros ($140 million) by EU tech regulators on Friday for breaching online content rules, the first sanction under landmark legislation that once again drew criticism from the US government.

X's rival TikTok staved off a penalty with concessions, according to Reuters.

Europe's crackdown on Big Tech to ensure smaller rivals can compete and consumers have more choice has been criticized by the administration of US President Donald Trump, which says it singles out American companies and censors Americans.

The European Commission, the EU's executive, said its laws do not target any nationality and that it is merely defending its digital and democratic standards, which usually serve as the benchmark for the rest of the world.

The EU sanction against X followed a two-year-long investigation under the bloc's Digital Services Act (DSA), which requires online platforms to do more to tackle illegal and harmful content.

The EU's investigation of ByteDance's social media app TikTok led to charges in May that the company had breached a DSA requirement to publish an advertisement repository allowing researchers and users to detect scam advertisements.

The European Commission's tech chief Henna Virkkunen said X's modest fine was proportionate and calculated based on the nature of the infringements, their gravity in terms of affected EU users and their duration.

“We are not here to impose the highest fines. We are here to make sure that our digital legislation is enforced and if you comply with our rules, you don't get the fine. And it's as simple as that,” she told reporters.

“I think it's very important to underline that DSA is having nothing to do with censorship,” Virkkunen said.

She said forthcoming decisions on companies which have been charged with DSA violations are expected to take a shorter time than the two years for the X case.

“I'm really expecting that we will do the final decisions now faster,” she said.

Ahead of the EU decision, US Vice President JD Vance said on X: “Rumors swirling that the EU commission will fine X hundreds of millions of dollars for not engaging in censorship. The EU should be supporting free speech not attacking American companies over garbage.”

TikTok, which pledged changes to its ad library to be more transparent, urged regulators to apply the law equally and consistently across all platforms.

EU regulators said X's DSA violations included the deceptive design of its blue checkmark for verified accounts, the lack of transparency of its advertising repository and its failure to provide researchers access to public data.

The Commission said the investigation into the dissemination of illegal content on X and measures taken to combat information manipulation and a separate probe into TikTok's design, algorithmic systems and obligation to protect children continue.

DSA fines can be as high as 6% of a company's annual global revenue.

Business

Survey: Swiss Companies Plan Investment Abroad to Offset US Tariffs

FILE PHOTO: Reinsurer Swiss Re's headquarters are seen on the banks of Lake Zurich in Zurich, Switzerland February 21, 2019. REUTERS/Arnd WIegmann/File Photo
FILE PHOTO: Reinsurer Swiss Re's headquarters are seen on the banks of Lake Zurich in Zurich, Switzerland February 21, 2019. REUTERS/Arnd WIegmann/File Photo
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Survey: Swiss Companies Plan Investment Abroad to Offset US Tariffs

FILE PHOTO: Reinsurer Swiss Re's headquarters are seen on the banks of Lake Zurich in Zurich, Switzerland February 21, 2019. REUTERS/Arnd WIegmann/File Photo
FILE PHOTO: Reinsurer Swiss Re's headquarters are seen on the banks of Lake Zurich in Zurich, Switzerland February 21, 2019. REUTERS/Arnd WIegmann/File Photo

Swiss companies plan to relocate some of their operations and production abroad to deal with the impact of US tariffs, according to a study by business association economiesuisse.

It surveyed more than 400 companies before and after Switzerland last month agreed a deal to reduce US tariffs from 39% to 15%, with a quarter of the firms already having identified concrete steps they were taking, Reuters reported.

Nearly a third of those firms have decided to increase investments outside Switzerland and shift production and operations abroad, the survey said.

Some 16% of companies said they were going to relocate operations to countries outside the European Union or the United States, in addition to 10% going to the US, and another 5% looking at the European Union.

Other options included looking more at other markets, raising prices and even halting exports to the US.

Rudolf Minsch, economiesuisse's chief economist, said the relocation and investment was not damaging for Switzerland, which remained an attractive business location, though he cautioned high-skilled jobs and R&D should be kept.

As part of its agreement, Bern has also pledged $200 billion in investments from its companies in the US, raising concerns about the potential long-term economic impact.

UBS has said if the pharmaceuticals industry - Switzerland's biggest export sector - relocates all US-bound production to that country - cumulative Swiss economic growth over five years would be reduced from a forecast 10% to 7.7%.

Minsch said Switzerland was too small to absorb the $200 billion, and had a long tradition of investing abroad.

Those investments also helped secure jobs at home, he said.