More than 60 government ministers and delegations responsible for their countries’ minerals and metals strategies attended on Tuesday the second Ministerial Roundtable hosted by Saudi Arabia's Ministry of Industry and Mineral Resources in the largest-ever meeting of its kind.
The ministers agreed that minerals are necessary to build a cleaner economy through new and emerging technologies.
Moreover, the roundtable revealed that ministers and officials of 62 states are studying the mechanism of transforming the mining region stretching from Africa to West and Central Asia, a major bridge in the global transition to renewable energy.
Although the region is home to nearly half of the world's population, it has not invested significantly in the renewable energy sector, contributing only 11 % to its global GDP.
The Roundtable will be followed by the Future Minerals Forum (FMF) 2023, which runs between January 11 – 12. FMF is conducted under the auspices of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz.
Bandar AlKhorayef, Saudi Minister of Industry and Mineral Resources, opened the meeting with a speech in which he welcomed participants and highlighted that the meeting reflected the vital role mining plays in shaping our transition to a sustainable future and equitable economic development.
He said the Roundtable reflects the vital role played by the mining industry in shaping the transition to a sustainable future and achieving fair economic development.
One of the advantages of developing the minerals and metals sector in the region is strengthening local communities and improving the balance of trade with the world, said the minister.
AlKhorayef revealed that his country attracted $32 billion in investments in mining and minerals during the past year.