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Saudi Focus on Minerals Needed in Power Transition, EVs

Saudi Arabia pushes to intensify mining investments amid focus on minerals with future demand (Asharq Al-Awsat)
Saudi Arabia pushes to intensify mining investments amid focus on minerals with future demand (Asharq Al-Awsat)
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Saudi Focus on Minerals Needed in Power Transition, EVs

Saudi Arabia pushes to intensify mining investments amid focus on minerals with future demand (Asharq Al-Awsat)
Saudi Arabia pushes to intensify mining investments amid focus on minerals with future demand (Asharq Al-Awsat)

Saudi Vice-Minister for Mining Affairs Khalid Al-Mudaifer has predicted a fourfold increase in the demand for minerals used in clean energy technologies and electric vehicles by 2040.

Al-Mudaifer stressed that the Kingdom of Saudi Arabia is focused on benefiting from the knowledge and experience of developed mining regions.

The vice-minister noted that net consumption of minerals like graphite, cobalt, vanadium, and nickel will exceed demand by two-thirds by 2050.

Moreover, current supplies of copper, lithium and platinum are insufficient to meet future needs. Al-Mudaifer projected a 30%- 40% supply gap for those minerals.

He explained that the new mining strategy in the Kingdom launched more than 40 initiatives designed to improve the general climate for mining and attract the investment required for the success of this new industry.

According to Al-Mudaifer, Saudi Arabia is focused on developing sustainable integrated value chains, which are enabled by creating an investment environment based on simple licensing and sustainability processes.

Additionally, Al-Mudaifer mentioned the benefits of devoting financial and human resources to bring about a rapid transformation in the mining sector in Saudi Arabia.

Al-Mudaifer noted that the mining investment system in the Kingdom provides a clear regulatory environment, as well as a transparent digital process for requests for licenses and approvals.

He added that the Kingdom’s efforts to create one of the best mining investment climates in the world has led to a 27% year-on-year growth in Saudi mining revenues in 2021.

“We have made great progress creating one of the most favorable mining investment climates in the world, resulting in a 27% year-on-year growth in mining revenues in 2021, totaling more than $8-billion in foreign direct investment attracted by the Ministry,” Al-Mudaifer told Mining Weekly.

Moreover, a recent survey reveals the enthusiasm expressed by mining industry investors regarding the opportunities in Saudi Arabia, with nearly 80% of those surveyed considering investing in the sector. This relative optimism, Al-Mudaifer said, speaks to the success of the Saudi Arabian mining sector transformation.

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Gulf States Expand Tourism Footprint as Emerging Markets Gain Momentum at Arabian Travel Market in Dubai

Saudi Arabia’s participation in the Arabian Travel Market (Asharq Al-Awsat) 
Saudi Arabia’s participation in the Arabian Travel Market (Asharq Al-Awsat) 
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Gulf States Expand Tourism Footprint as Emerging Markets Gain Momentum at Arabian Travel Market in Dubai

Saudi Arabia’s participation in the Arabian Travel Market (Asharq Al-Awsat) 
Saudi Arabia’s participation in the Arabian Travel Market (Asharq Al-Awsat) 

Emerging tourism markets are carving out space on the global travel map, drawing attention for their dynamic participation at the Arabian Travel Market (ATM) in Dubai, while Gulf nations—particularly Saudi Arabia and the United Arab Emirates—are accelerating their expansion in the tourism sector.

As global travel gathers momentum, Gulf-based airlines are eyeing new investment opportunities despite lingering global economic uncertainty, driven by shifting trade patterns and evolving consumer behavior in the international travel landscape.

The 32nd edition of ATM opened in Dubai with more than 2,800 exhibitors and nearly 55,000 industry professionals from 166 countries. Held under the theme “Empowering Innovation: Transforming Travel Through Entrepreneurship,” the event emphasized building a more sustainable and globally integrated travel industry.

The exhibition reflects the profound changes shaping global tourism, with cross-border and sustainable connectivity now central to the industry’s development. It also highlights the growing influence of emerging markets and the increasing role of Gulf investments in tourism and aviation.

During its participation in ATM, the Saudi Tourism Authority showcased the Kingdom’s accelerating tourism growth, revealing it had attracted approximately 116 million visitors in 2024—a 6.4% increase from the previous year. Fahd Hamidaddin, the authority’s CEO, said Saudi Arabia aims to strengthen its position as a unique summer destination through a robust calendar of events and strategic private-sector partnerships. The focus is on key source markets across the Middle East, Asia, and Africa.

UAE Tourism Supports Economic Diversification

UAE Minister of Economy and Chairman of the Emirates Tourism Council, Abdulla bin Touq Al Marri, emphasized the country’s growing stature as a global tourism hub. He pointed to the launch of major national initiatives that align with best international practices, support economic diversification, and attract investment in hospitality, aviation, and travel.

According to bin Touq, the UAE’s tourism sector continued to deliver strong performance in 2024. Hotel revenues rose to AED 45 billion (USD 12.2 billion), up 3% from 2023, while occupancy rates reached 78%, among the highest globally. The country added 16 new hotels last year, increasing the total to 1,251, with room capacity growing 3%. Hotel guests rose 9.5% year-on-year to 30.8 million, achieving 77% of the UAE’s 2031 national tourism target seven years ahead of schedule.

Gulf Airlines Gear Up for Growth

Etihad Airways CEO Antonoaldo Neves said the airline has yet to feel any major impact from global trade tensions, with seat occupancy remaining strong despite global uncertainty. Etihad plans to add 20 to 22 aircraft in 2025, with the goal of expanding its fleet to more than 170 aircraft by 2030. Neves also noted that the euro’s recent appreciation could boost European travel to the Gulf.

Etihad, which currently operates a fleet of around 100 aircraft, has significant financial flexibility, with 60% of its fleet debt-free. “If a crisis arises, we can ground planes and save up to 75% of operating costs,” he noted.

The airline plans to receive 10 Airbus A321XLR jets starting in August, in addition to 6 Airbus A350s and 4 Boeing 787s. Neves said while delays in aircraft delivery remain a challenge, they have not altered Etihad’s growth strategy. He also confirmed ongoing discussions with manufacturers and signaled interest in Boeing aircraft originally designated for China but now potentially available due to trade restrictions.

Riyadh Air Nears Major Aircraft Deal

Tony Douglas, CEO of Saudi Arabia’s Riyadh Air, said the new airline is open to acquiring Boeing jets initially built for the Chinese market if trade disputes disrupt those deliveries.

Douglas said global economic headwinds have not affected demand and announced plans to finalize a major widebody aircraft deal soon. The airline aims to expand its workforce to around 1,000 employees in the coming year, as it prepares to begin operations in the fourth quarter of 2025.

Commenting on broader regional developments, Douglas said the resumption of flights from the UAE to Syria and the use of Syrian airspace “may be an early sign that conditions are improving.”