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)
TT

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.

 

 



Gold Gains on Softer Dollar as Investors Weigh Trump Tariff Impact

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)
TT

Gold Gains on Softer Dollar as Investors Weigh Trump Tariff Impact

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)

Gold prices rose on Tuesday, helped by a softer US dollar and inflationary risks posed by President-elect Donald Trump's potential tariff policies, which could influence the pace of Federal Reserve monetary policy easing this year.

Spot gold was up 0.3% to $2,668.79 per ounce as of 1200 GMT. US gold futures gained 0.1% to $2,682.30.

"Gold prices are benefiting from reports that the incoming Trump administration is considering a gradual implementation of tariff increases to mitigate their impact on inflation," said Ricardo Evangelista, senior analyst at ActivTrades, referring to a Bloomberg report.

"This news led to a slight decline in US Treasury yields and a weakening of the dollar."

The dollar index fell 0.3% from a more than two-year high hit in the last session as traders scaled back US rate cut bets for 2025 after a strong jobs report. A softer dollar makes gold more affordable for buyers using other currencies, Reuters reported.

Investors are looking out for US Producer Price Index (PPI) data at 1330 GMT and Consumer Price Index (CPI) numbers due on Wednesday. A Reuters poll of economists gives a median forecast for an annual rise in CPI of 2.9%, up from November's 2.7%.

Also due is US retail sales on Thursday for further insights into the economy and the Fed's 2025 policy trajectory.

"If inflation increases again based on Trump´s spending policy, we may even see no cuts at all in the mid-term," said Henrik Marx, head of precious metals trading at Heraeus Precious Metals Germany.

Bullion is used as a hedge against inflation, although higher interest rates reduce the non-yielding asset's appeal.

Elsewhere, spot platinum was down 0.4% to $949.80.

"We look for platinum to be under-supplied by 500,000 ounces, or 6.4% of demand, in 2025," UBS said in a note.

Spot silver firmed 0.5% to $29.75 per ounce and palladium climbed 0.5% to $943.70.