Under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz, Riyadh has emerged as the “global capital of mining” by hosting the fifth ministerial roundtable of the Future Minerals Forum 2026.
The meeting was not merely a forum for discussion, but a platform to launch a new phase of international cooperation under the theme “Minerals: Meeting the Challenges of a New Era of Development.”
Representatives from 100 governments and 70 international organizations gathered on Tuesday to develop a roadmap for securing the flow of critical minerals the world needs to achieve its digital and green transitions.
The gathering marked a significant shift in collective action, reviewing progress since the launch of three initiatives in 2023 and urging governments to join the Future Minerals Framework.
The framework is not simply an agreement but a vital mechanism to strengthen partnerships between supplier and consumer countries, and to build an investment ecosystem capable of attracting public and private financing.
This momentum culminated in an announcement by Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef of the appointment of a permanent ministerial steering committee of 17 founding member states, selected to ensure geographic balance and representation of both supplier and consumer countries.
The committee will provide strategic guidance, oversee implementation of initiatives, and ensure the continuity of dialogue between major producing and consuming powers.
Ministerial guidance
Alkhorayef stated that achieving countries’ economic, industrial, and energy ambitions depends on the availability of secure and resilient mineral supplies, stressing that such supplies cannot be guaranteed without substantial investments and the adoption of innovative technologies, which require significant financing.
He said mineral resources are at the core of technologies driving electrification and digitalization, and form the foundation of industrial development and future jobs in both producing and consuming countries, making them a key driver of global growth.
Alkhorayef noted that joint work over the past five years had delivered progress beyond expectations, adding that details of these achievements were documented in a booklet provided to participants.
He cited cooperation with the World Bank to address the financing gap in mineral exploration and the elevation of infrastructure financing on the global agenda.
He said efforts also included leading a new dialogue focused on transparency and supply chain traceability, developing standards that reflect current realities, and establishing a network of centers of excellence to build capabilities in talent, sustainability, and technological empowerment.
These initiatives, he said, embody the roundtable’s goal of finding common ground on difficult issues, aligning supplier and consumer countries, and bringing governments, industry, and multilateral organizations under one roof.
The minister praised the participation of a large number of ministers and representatives, whether attending for the first time or regular participants, saying the turnout reflected the importance of joint international action.
He recalled that the first Future Minerals ministerial roundtable, hosted in 2022, brought together 32 countries and focused on what was then known as the “greater region,” encompassing Africa, West, and Central Asia.
Today, senior representatives from over 100 countries and 70 international organizations are participating.
Global development
The expanded participation came in response to requests from countries in other regions, such as Latin America, reflecting the global importance of the dialogue and participants’ ability to shape solutions, Alkhorayef added.
He pointed to growing interest from consuming countries in engaging in the discussion, noting that the table today brings together representation from all G20 countries alongside producers and consumers, underscoring that the right dialogue is taking place with the right parties at the right time and place.
This presence reflects a shared responsibility to shape a new era of global development, prosperity, and stability through the use of minerals, he remarked, emphasizing that minerals are the cornerstone of global development.
At the same time, the minister acknowledged challenges including slow project development, fragmented global policies, infrastructure gaps, financing constraints, and a lack of trust in the sector.
None of these challenges can be addressed individually, he explained, adding that genuine, well-designed cooperation among the countries gathered can make a difference.
Alkhorayef urged participants to use their shared time wisely, adopt a long-term mindset, and engage in frank, practical discussions that lead to a vital action agenda for the planet’s future, emphasizing that collective action is the foundation for securing the mineral supplies the world needs.
Supply chains
Saudi Vice Minister of Industry and Mineral Resources for Mining Affairs Khalid Al-Mudaifer reviewed progress made in 2025 across the three ministerial roundtable initiatives: developing an international framework to scale up infrastructure financing and align enabling government policies, building capabilities in emerging supply regions through a network of centers of excellence, and enhancing transparency of mineral supply chains through traceability.
He stated that the world requires more than $5 trillion to meet its energy needs by 2035, encompassing both electricity and infrastructure, noting that this capital requirement applies to over 20 mining companies amid significant financing challenges.
Al-Mudaifer spoke about developing the Global Mining Framework announced by Saudi Arabia last year to maximize value creation in supplier countries, stressing the importance of cooperation at the meeting to confront this major challenge and agree on key enablers to seize opportunities.
He outlined policies that support supply chain development, value creation for the sector, enabling infrastructure, responsible mining practices, skills development for a qualified workforce, the technology needed to make operations safer and more productive, and easier access to reliable geological data to attract investors and accelerate exploration.
Future minerals framework
He presented for discussion a draft of the Future Minerals Framework, which outlines principles and objectives and initiates a process to enhance cooperation between supplier and consumer countries to develop mineral supplies.
The framework aims to boost cooperation between producing and consuming countries by creating an inclusive, multi-stakeholder space that brings together decision-makers to discuss complex challenges and identify solutions to secure the minerals needed for development.
It seeks to attract investment to develop mineral value chains and infrastructure in the “super region” spanning Africa, West and Central Asia, and other supply regions, maximize regional mineral value chains, and drive local value creation through infrastructure financing and cross-border partnerships.
It aims to establish an attractive investment ecosystem for public and private financing, promote responsible supply through transparency and traceability, integrate sustainability priorities across all stages of mineral value chains, build capacities and policy frameworks, and empower emerging supplier countries to maximize the benefits of their mineral wealth.
The framework is based on voluntary participation, consensus-based decision-making, transparency, accountability, and fair benefit sharing, as well as adherence to international responsible sourcing frameworks and cooperation with industry, multilateral partners, and civil society.
The framework represents the culmination of work carried out by the Future Minerals Forum since 2023, with initiatives reaching a level of maturity that requires active state participation in implementation through an agreed structure and mechanism overseen by the steering committee.
It also allows for the integration of new initiatives adopted by the ministerial roundtable.
The World Bank Group presented a new minerals strategy focused on supporting countries in strengthening mineral development and value chains, from extraction and processing to regional manufacturing, to create greater local value and jobs.
The strategy is built on three pillars: policies, governance and institutions, core infrastructure, and private sector mobilization and innovation.
Participants welcomed the strategy and stressed the importance of the forum’s partnerships with multilateral organizations, including the World Bank Group, in developing innovative mechanisms to finance infrastructure that supports the resilience of global supply chains.
Voluntary standard
The voluntary standard will complement existing standards and draw on the forum’s sustainability framework, which is built on four priorities identified by countries: development, cooperation, capacity building, and performance.
The development of the voluntary standard is expected to take approximately two years, enabling countries to design legal, policy, and regulatory frameworks that enhance supply chain transparency and boost investor confidence.
The work will be coordinated through a sustainability center being established at Mohammed VI Polytechnic University in Morocco.
The sustainability center is one of the outcomes of the forum’s initiative to create a network of centers of excellence for capacity building in supply regions.
Participants praised the achievement and underscored its role in delivering tangible benefits to enhance mineral supply transparency, pledging to encourage national standards bodies in their countries to take part in the process.
