Saudi Arabia Underlines Commitment to Responsible Mineral Sourcing at Paris Peace Forum

16:29-9 November 2025 AD ـ 18 Jumada Al-Ula 1447 AH

Saudi Arabia Underlines Commitment to Responsible Mineral Sourcing at Paris Peace Forum

The Saudi Ministry of Industry and Mineral Resources reaffirmed the Kingdom’s commitment to responsible mineral sourcing and sustainable resource governance at the 8th Paris Peace Forum, held at the Palais de Chaillot under the theme “New Coalitions for Peace, People, and the Planet.”

Deputy Minister of Industry and Mineral Resources for Mining Development Eng. Turki Al-Babtain represented the ministry in a high-level panel session titled “Security vs. Sustainability: The Hidden Costs of a Geopolitical Race for Minerals.” The panel featured President of the National Assembly of Serbia Ana Brnabić and former European Union Commissioner for Energy Kadri Simson.

Al-Babtain emphasized that advancement in the mineral sector requires collaboration rather than competition, said a Ministry of Industry and Mineral Resources statement on Sunday.

“The world’s energy transition depends on a coordinated global effort,” he added. “The world today faces not only a shortage of minerals but also a shortage of coordination. To avoid fragmentation and ensure stability, we must build a new compact of collaboration — one that links transparency, finance, and technology under shared responsibility.”

Saudi Arabia’s mining transformation under Vision 2030 seeks to balance economic diversification with environmental and social responsibility, he went on to say. The Kingdom is unlocking an estimated $2.5 trillion in mineral resources through the Regional Geological Survey Program, one of the region’s most extensive geochemical and geophysical mapping efforts of the Arabian Shield, covering 600,000 square kilometers.

To date, more than 33,000 square kilometers have been tendered for exploration, with an estimated 50,000 square kilometers of mineralized investment opportunity expected by 2025.

Al-Babtain stated that the transformation is guided by a reformed Mining Investment Law that enforces strict ESG standards, mandates community engagement, and requires comprehensive environmental rehabilitation by investors.

These measures, along with other competitive incentives, have attracted leading global mining companies, including Ivanhoe Electric, Vedanta, Hancock Prospecting, Zijin Mining, Discovery Group, and Kuya Silver, into the Kingdom’s mining sector, he stressed.

The sector has witnessed significant growth in exploration spending, which increased from $133.5 million in 2023 to $280.5 million in 2024. The number of active mining companies also rose from six in 2020 to 226 in 2024.

Al-Babtain highlighted the Future Minerals Forum (FMF), hosted annually in Riyadh, as one of Saudi Arabia’s key platforms for advancing global cooperation in the minerals sector. The forum convenes over 90 senior government officials from Africa, Asia, Europe, and the Americas to promote responsible mineral development, strengthen supply chains, and foster dialogue on policy and sustainability.

He noted that the FMF and its government-led Ministerial Roundtable have advanced three flagship initiatives: establishing a network of Centers of Excellence across Africa and Asia to drive capacity-building, developing harmonized regulatory frameworks, and enhancing sustainable investment in critical minerals.

Turkish Manufacturing Contracts at Fastest Pace in Five Months in March, PMI Shows

People walk past displayed items in a clothes shop at Eminonu commercial area, in Istanbul, Türkiye, Thursday, March 26, 2026. (AP)

10:15-1 April 2026 AD ـ 13 Shawwal 1447 AH

Turkish Manufacturing Contracts at Fastest Pace in Five Months in March, PMI Shows

People walk past displayed items in a clothes shop at Eminonu commercial area, in Istanbul, Türkiye, Thursday, March 26, 2026. (AP)

Turkish manufacturing activity contracted ‌at its fastest pace in five months in March as the war in the Middle East lifted costs, disrupted supply chains and weakened demand, a business survey showed on Wednesday.

The Istanbul Chamber of Industry Turkish Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 47.9 in March from 49.3 in February, the survey showed.

The 50-mark separates ‌growth from contraction.

"The ‌Turkish manufacturing sector suffered ‌something ⁠of a setback in ⁠March, after conditions had looked to be on the path to becoming more favorable in February," said Andrew Harker, economics director at S&P Global Market Intelligence.

New orders fell for a 33rd straight month and ⁠at the sharpest pace since last ‌November, while export ‌demand also weakened more quickly. Output was scaled back ‌to the greatest extent since last November, ‌S&P Global said.

Price pressures intensified as firms linked higher freight, fuel, oil and raw material costs to the Middle East conflict. Input costs rose ‌at the fastest rate since April 2024, while output price inflation ⁠hit ⁠a 25-month high.

Supply-chain strains also worsened. Suppliers' delivery times lengthened to the largest extent since August 2024, while manufacturers cut employment at the sharpest pace in six months and reduced purchasing activity and inventories.

The survey said manufacturing conditions have now weakened in every month over the past two years. Business confidence fell to a five-month low in March, although firms still expected output to rise over the coming year.

Business

Japan, France Agree Rare Earths Deal to Cut China Reliance

French President Emmanuel Macron shakes hands with Japanese Prime Minister Sanae Takaichi during a welcoming ceremony at the Akasaka palace in Tokyo, Japan on April 1, 2026. PHILIP FONG/Pool via REUTERS

Asharq Al Awsat

10:11-1 April 2026 AD ـ 13 Shawwal 1447 AH

Asharq Al Awsat

10:11-1 April 2026 AD ـ 13 Shawwal 1447 AH

Japan, France Agree Rare Earths Deal to Cut China Reliance

Japan and France agreed to strengthen support for rare earths supply chains on Wednesday, Japan's public broadcaster NHK reported, in the latest moves by both countries to lessen dependence on the world's dominant supplier, China.

During French President Emmanuel Macron's three-day visit to Japan for talks with Prime Minister Sanae Takaichi, officials signed a roadmap to cooperate on critical minerals supply chains, NHK said.

"We cannot rely solely on specific countries, especially China," French Finance Minister Roland Lescure was quoted as saying by NHK.

The two sides also agreed to secure raw material supplies for a rare earths refining project in southern France, called Caremag, the broadcaster said.

The state-owned Japan Organization for Metals and Energy Security and gas ⁠firm Iwatani, along ⁠with the French government, are investors in Caremag, which is due to start operations in late 2026.

Japan plans to get about 20% of its future demand for dysprosium and terbium from the refining plant, heavy rare earth oxides used in magnets for EV motors, offshore wind turbines and electronic components.

Takaichi and Macron are due to issue a joint statement calling for diversifying supplies of rare earths and other critical minerals during their summit on Wednesday, the Nikkei newspaper reported separately.

The deal ⁠comes at a critical moment, with Japan and Western governments and manufacturers scrambling to secure supplies of rare earths minerals to reduce their dependency on China, the world's dominant rare earths producer and supplier.

In February, China prohibited exports of so-called dual-use items to 20 Japanese entities, which it said supply Japan's military.

That was after Takaichi angered Beijing with comments about Taiwan in November.

The rules cover seven rare earths and associated materials currently on China's dual-use control list, including dysprosium and yttrium, along with a swathe of other controlled critical minerals.

"China is pursuing a strategy of using rare earths as a diplomatic card, and if US-China and Japan–China relations improve, exports could recover quickly," said Kotaro Shimizu, principal analyst at Mitsubishi UFJ Research and Consulting.

Japan has reduced its reliance on ⁠China to 60% ⁠from 90% following a 2010 diplomatic incident which saw Beijing restricting rare earths supply to Tokyo.

Japan has been boosting investments in overseas projects like trading house Sojitz's tie-up with Australia's Lynas Rare Earths, and promoting rare earths recycling and manufacturing processes.

In the latest set of steps, Japan's Mitsubishi Materials this week agreed to acquire a stake in US ReElement, a company involved in rare earth element recycling, as both countries have set up an action plan for China alternatives.

Japan and the US are also considering joint development of rare-earth-rich mud deposits, near the remote Minamitori Island, and Japan is in talks with India to jointly explore rare earths in the desert state of Rajasthan.

Japan and France will also seek cooperation in space, with companies from the two countries expected to sign memorandums of understanding on 12 joint projects, including space debris removal and rocket launches, the Nikkei said.

Business

South Korea and Indonesia Discuss Energy Security, Sign Agreements on Minerals and Tech

Indonesian President Prabowo Subianto (L) and South Korean President Lee Jae Myung (R) pose for a photo during their meeting at the presidential office in Seoul on April 1, 2026. (Photo by YONHAP / AFP)

Asharq Al Awsat

09:59-1 April 2026 AD ـ 13 Shawwal 1447 AH

Asharq Al Awsat

09:59-1 April 2026 AD ـ 13 Shawwal 1447 AH

South Korea and Indonesia Discuss Energy Security, Sign Agreements on Minerals and Tech

South Korean President Lee Jae Myung held talks on Wednesday with Indonesian leader Prabowo Subianto, discussing energy security and agreeing to expand cooperation in areas such as critical minerals and technology, Lee's office said.

The summit talks followed a welcome ceremony at the presidential Blue House in Seoul.

Lee said energy security had become a growing concern amid the global uncertainty triggered by the conflict in the Middle East.

"We view Indonesia's stable role in supplying key energy resources such as LNG and coal as very ⁠reassuring," Lee said ⁠in a statement, calling for closer cooperation on energy supply and resource security.

Indonesia is the world's largest exporter of thermal coal, while South Korea has been among the five biggest importers of the fuel in recent years, according to Korean government data.

South Korea also imported about 2.1 million tons of liquefied natural gas from Indonesia in 2025, data showed.

The Indonesian president arrived in Seoul from Japan where Jakarta agreed to ⁠step up coordination with Tokyo on energy security, Reuters reported.

Prabowo described South Korea and Indonesia as natural partners with "complementary roles,” pointing to South Korea's industrial and technological strengths and Indonesia's abundant resources and large market.

South Korea's exports to Indonesia stood at $7 billion in 2025, while imports were $11.3 billion, trade data showed.

Lee and Prabowo also oversaw the signing of multiple preliminary agreements, including support for projects in renewable energy and data centers as the countries elevate their relationship into a strategic partnership.

JOINT FIGHTER PROJECT

Prabowo, a former general, also said that strong defense capabilities were essential, saying peace and stability required "robust security and defense."

No deals were announced on defense cooperation, however, including on the two ⁠countries' joint project ⁠to develop South Korea's homegrown KF-21 fighter jet.

Korea Aerospace Industries last month said it was in talks with Indonesia on a potential sale of KF-21 fighter jets, but said no decisions had been made. Media reports said that Jakarta was considering purchasing an initial batch of 16 aircraft.

South Korea expects Indonesia to complete a payment related to the joint development program by the end of this year, an official told Reuters. The countries were expected to advance defense ties, as well as strengthen cooperation in new growth areas such as artificial intelligence, infrastructure, shipbuilding, nuclear power, energy conversion, and cultural industries, the Blue House said in an earlier statement.

Lee is also set to award Prabowo South Korea's highest civilian honor, the Grand Order of Mugunghwa, during the state visit, the presidential office said.

Saudi Arabia Underlines Commitment to Responsible Mineral Sourcing at Paris Peace Forum