The Saudi Cabinet approved on Tuesday the draft regulations and operating procedures of the National Minerals Program, which was authorized for establishment in July 2024.
The program focuses on boosting the efficiency and adequacy of current and future mineral supply chains and operates under the supervision of the Ministry of Industry and Mineral Resources, as part of the Kingdom’s broader efforts to maximize value from the mining sector and strengthen the continuity of mineral supply chains at both regional and global levels.
The initiative aligns with Saudi Arabia’s strategic push to develop its mining industry as a key pillar of economic diversification.
Minister of Industry and Mineral Resources Bandar Alkhorayef had previously said the program would serve as a powerful enabling tool to bolster the quality and reliability of mineral supply chains, ensure sustained supplies for local industries and major projects, support the development of national infrastructure, and help achieve the goals of Vision 2030.
The program would play an active role in driving growth in the minerals sector and unlocking the Kingdom’s significant mineral resources, he added.
The program is designed to unify key roles among relevant stakeholders, address existing gaps to ensure uninterrupted mineral supply chains, build local capabilities in the sector, contribute to exploration activities, and secure industrial supplies for domestic industries and large-scale projects.
In a related development, Riyadh will host the fifth edition of the International Mining Conference from Jan. 13-15, under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz.
The event aims to further cement Saudi Arabia’s leadership in the global mining sector, with expectations that around 200 exhibiting and sponsoring entities will participate. Around 150 memorandums of understanding and strategic agreements will be signed to support global mineral supply chains.
