Saudi Arabia to Host Future Minerals Summit on Mining Investment in Middle East, N.Africa

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)
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Saudi Arabia to Host Future Minerals Summit on Mining Investment in Middle East, N.Africa

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)

The Saudi Ministry of Industry and Mineral Resources announced on Tuesday details of the inaugural Future Minerals Summit, the first-ever event to offer a “one-stop-shop” for investors, miners and other industry stakeholders interested in learning more about the mining potential of the Middle East, Central Asia, and North and East Africa.

The Future Minerals Summit will be held under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, reported the Saudi Press Agency.

“We are putting mining and investment at the heart of the new Saudi economy,” said Minister of Industry and Mineral Resources, Bandar Alkhorayef. “With an estimated $1.3 trillion mineral endowment, we are looking for investors and partners to work with us to continue to transform the Saudi mining industry in the years ahead.”

Scheduled to take place from January 11 to 13, 2022, in Riyadh, invitations have been extended to the world’s key mining industry leaders, investors and influencers, and engaging speakers.

“What sets the Future Minerals Summit apart and makes it compelling is the three dynamic regions that co-own the event and are open for business,” said Alkhorayef. “The summit will provide a platform for governments from across the Middle East, Central Asia, and North and East Africa to come together to discuss investment opportunities and strategic partnerships with global investors with an interest in mining.

“Our ambition is to shape the future of mining by bringing together governments, the private sector, multilateral organizations and NGOs to find solutions and sustainable investment streams to support a dynamic, integrated mining sector in this part of the world and beyond,” he added.

The conference program is being built around four pillars: Defining a New Mining Hub – showcasing opportunities across the Middle East, Central Asia, and North and East Africa; Lands of Opportunity – outlining partnership opportunities across integrated value chains; Reimagining Mining – shining a spotlight on innovations that will support mining in the future; and Mining’s Contribution to Society – highlighting the industry’s vital role in producing the inputs needed to create a circular carbon future, as well as attracting the workforce of the future.

In addition to the Ministry of Industry and Mineral Resources, Future Minerals Summit has been endorsed by the Ministry of Foreign Affairs, Ministry of Investment and the Public Investment Fund.



Cyprus Says Egypt’s Infrastructure Helps Unlock Potential of Its Gas Reserves

 Officials are seen at Egypt’s international Energy Show (EGYPES 2025). (Asharq Al-Awsat)
Officials are seen at Egypt’s international Energy Show (EGYPES 2025). (Asharq Al-Awsat)
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Cyprus Says Egypt’s Infrastructure Helps Unlock Potential of Its Gas Reserves

 Officials are seen at Egypt’s international Energy Show (EGYPES 2025). (Asharq Al-Awsat)
Officials are seen at Egypt’s international Energy Show (EGYPES 2025). (Asharq Al-Awsat)

Cypriot Energy Minister George Papanastasiou said Egypt's energy infrastructure helps Cyprus make the most of its gas reserves.

Speaking at Egypt’s international Energy Show (EGYPES 2025), Papanastasiou stressed that a successful energy transition should focus on energy security, affordable resources, and supporting technologies.

He also emphasized the importance of working with Egypt, given its competitive advantages in the sector.

Egypt and Cyprus signed two agreements on Monday, on the sidelines of EGYPES 2025, to begin developing Cyprus’ natural gas discoveries using Egypt’s infrastructure.

The agreements are part of Egypt’s Petroleum Ministry strategy to transform the country into a regional hub for natural gas trade, by receiving gas from Eastern Mediterranean discoveries, directing it to the local market, and re-exporting it to Europe.

Egyptian Petroleum Minister Karim Badawi emphasized Egypt’s role as a regional energy hub, thanks to its strong infrastructure in the petroleum and gas sectors.

He said the main goal of regional energy cooperation is to help countries make the most of their resources and infrastructure, with close partnerships between Egypt, Cyprus, and Europe for mutual benefit.

Egypt’s strategy focuses on using its location and advanced infrastructure to boost its role in renewable and green energy, as well as petrochemicals, Badawi explained.

He also highlighted plans to diversify energy sources, increase renewable energy, and explore green hydrogen, while responsibly producing oil and gas with minimal carbon emissions.

Greek Energy Minister Theodore Skylakakis discussed Greece's efforts to secure energy and develop electricity infrastructure, turning the country from an importer into an exporter of electricity for the first time.

Badawi signed a memorandum of understanding (MoU) with Skilakakis on cooperation in carbon capture, storage, and utilization with the aim to reduce carbon emissions from the energy sector and support low-carbon economy.

The MoU, inked on the sidelines of EGYPES 2025, seeks to facilitate knowledge exchange between Egypt and Greece on the application of carbon capture and storage (CCS) technologies that capture the greenhouse gas carbon dioxide and store it safely underground, so that it does not contribute to climate change.

The scope of cooperation includes developing proposals for a regulatory framework for carbon capture, storage, and utilization activities, in accordance with environmental standards and regulations.