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Saudi Arabia Discusses Role of Mining in Social Development

Riyadh hosts Future Minerals Forum on January 11-13. (Asharq Al-Awsat)
Riyadh hosts Future Minerals Forum on January 11-13. (Asharq Al-Awsat)
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Saudi Arabia Discusses Role of Mining in Social Development

Riyadh hosts Future Minerals Forum on January 11-13. (Asharq Al-Awsat)
Riyadh hosts Future Minerals Forum on January 11-13. (Asharq Al-Awsat)

The Saudi Ministry of Industry and Mineral Resources announced the first-ever Future Minerals Forum under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz.

The global event will occur from January 11 to 13 at Riyadh's King Abdulaziz International Conference Center.

It discusses the mining sector in the Middle East, Central Asia, and Africa, features presentations on topics critical to the mining industry's future, and reviews an extensive repertoire of subjects, opportunities, and challenges confronting the world's mining industry.

The conference will be attended by over 1,000 decision-makers from more than 100 countries and 150-plus top global investors, and some 100 international speakers.

Saudi ministers and representatives of the regional and international mining industry and allied sectors will join the forum's leaders.

The first day of the conference will start with a Ministerial Mining Roundtable Special Session featuring presentations and discussions on topics critical to the mining industry's future.

The "Mining in a Day" workshop will be held in tandem with other seminars and panel discussions that will spotlight important issues, including the attraction of investments, the role of technology in mining, and the environment, social, and governance issues.

The General Forum will begin on January 12 with a plenary session and a keynote address by Saudi Minister of Industry and Mineral Resources Bandar al-Khorayef. The session on Reimagining Mining and Maximizing its Contribution to Society will commence the day's program schedule.

It will be followed by a Smart-Mining session, "Showcasing Technology & Innovation—Supporting Mining of the Future."

Two additional sessions – Highlighting Mining's Critical Role in a Low-Carbon Economy and Supporting the Region's Growth and Development and Country Briefings – will complement exhibition and networking opportunities.

The final day will highlight Saudi Arabia's role in a session entitled "Land of Opportunity – A Regional Powerhouse," along with sessions on "Global Investment Opportunities an Accessing Capital."

Deep-dive sessions, keynote fireside chats, and other animated inter-and intra-ministry discussions will follow.

The conference will be attended by Energy Minister Abdulaziz bin Salman, Foreign Minister Faisal bin Farhan, Minister of Environment Abdulrahman al-Fadley, Minister of Investment Khalid al-Falih, and Governor of the Saudi Public Investment Fund Yassir al-Rumayyan.

It will also be attended by dozens of confirmed speakers from the mining industry, leaders from multilateral global organizations such as the World Bank, International Council on Mining and Metals, and World Gold Council.

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Business

Brent Crude Holds Near Five-Month High on Middle East Tension

Oil tanks and chimneys at ExxonMobil refining and petrochemicals platform in Rotterdam, Netherlands April 9, 2026. (Reuters)
Oil tanks and chimneys at ExxonMobil refining and petrochemicals platform in Rotterdam, Netherlands April 9, 2026. (Reuters)
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Brent Crude Holds Near Five-Month High on Middle East Tension

Oil tanks and chimneys at ExxonMobil refining and petrochemicals platform in Rotterdam, Netherlands April 9, 2026. (Reuters)
Oil tanks and chimneys at ExxonMobil refining and petrochemicals platform in Rotterdam, Netherlands April 9, 2026. (Reuters)

Oil prices advanced on Tuesday, with Brent hovering around a five-month high as traders priced in a geopolitical risk premium from Houthi attacks on Saudi infrastructure and reports of vessel attacks in the Gulf.

Brent crude futures climbed 55 cents, or 0.50%, to $110.10 a barrel by 0319 GMT, after rising as high as $110.70 a barrel in the previous session to their highest since May 20.

The US West Texas Intermediate crude (WTI) contract for November delivery, set to expire on Tuesday, was up 0.24% to $103.91. The more-active ‌December contract rose ‌39 cents, or 0.40%, to $98.93.

"Oil prices remain well-supported ... This ‌suggests ⁠the market is pricing ⁠in a significant risk premium, given the situation's volatility," ING analysts said in a note on Tuesday.

"However, if flows continue uninhibited despite the geopolitical environment, the risk premium would likely erode slowly. Clearly, there are no signs of this yet."

At least 18 vessels were reportedly attacked over two weeks, which keeps the risk premium intact, ship-tracker Kpler said in a note on Monday.

On Monday, a Houthi attack on a training camp for government security forces in Yemen's Shabwa province killed 58 people with more than 200 injured.

The renewed attacks heightened fears about regional stability and underscored continuing risks to energy supply from the region, keeping oil ‌prices above $100 a barrel.

In the US, crude oil stockpiles were expected to have fallen last week along with product ⁠inventories, a ⁠preliminary Reuters poll showed on Monday.

Friday's executive order by President Donald Trump waived key Russia-related US sanctions and tariffs, including goods duties and penalties for purchases of its energy.

However, Trump said on Saturday he had yet to announce a final decision on the matter, while Secretary of State Marco Rubio said officials wanted more time to evaluate the situation.

Russia's crude oil production increased by 65,000 barrels per day in September to 8.43 million bpd, but remained about 870,000 bpd below that of a year ago, the International Energy Agency said last week.

"While the prospect of additional Russian diesel supply offers some theoretical relief, traders appear far more focused on the ongoing risk of further damage to energy infrastructure across the Gulf region," said Tim Waterer, KCM Trade chief analyst.

Business

Qatar Plans Two Power Plants for Lebanon and 20-Year LNG Deal

A view shows electricity cables attached to a utility pole in Beirut, Lebanon February 18, 2022. (Reuters)
A view shows electricity cables attached to a utility pole in Beirut, Lebanon February 18, 2022. (Reuters)
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Qatar Plans Two Power Plants for Lebanon and 20-Year LNG Deal

A view shows electricity cables attached to a utility pole in Beirut, Lebanon February 18, 2022. (Reuters)
A view shows electricity cables attached to a utility pole in Beirut, Lebanon February 18, 2022. (Reuters)

Qatar plans to construct two power plants in Lebanon over the next three years and sign a 20-year liquefied natural gas supply deal under a proposal to revive the ailing Lebanese power sector, a document seen by Reuters showed.

The document, named the National Integrated Energy Investment Program, includes two new combined-cycle plants at Deir Ammar in northern Lebanon and at Zahrani in the south, ⁠each at a capacity of 825 megawatts.

It includes gas-fired electricity generation, LNG supply and regasification, renewable energy, battery storage, and regional interconnection of power grids.

“The program aims to attract private/project financing without upfront Lebanese public-budget capital expenditure; payment obligations and guarantees remain subject to negotiation,” the document said.

The blueprint still requires the approval of both governments and is subject to amendment, a person familiar with the matter told Reuters. They put the ‌timeframe for implementation at three years if approvals come swiftly.

20-year LNG supply

QatarEnergy would also enter a 20-year LNG supply agreement with Lebanon, using both a floating storage and regasification unit with a capacity of 3.5 million cubic meters per day, and the Arab Gas Pipeline via Syria at a capacity of 4.5 million cubic meters ⁠per day.

The proposal also includes plans for 800 MW of solar and 440 MW of wind, battery capacity and power imports from Syria, beginning with 300 MW via two separate routes.

Qatari Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani visited Lebanon last week and publicly promised to help revitalize the country's power sector. Few details were then presented to reporters.

A sector that weighs heavily on Lebanese economy

Lebanon's energy sector is at the center of the country's financial and economic malaise, contributing tens of billions of dollars to the national debt since the country's 1975-1990 civil war even as it failed to deliver 24/7 power.

The state power company currently supplies just a few hours of power per day, with the rest coming from expensive private diesel generators that spew toxic exhaust often seen forming a yellow-grey layer ⁠of smog above Beirut.

Numerous proposals to reform Lebanon's power sector and provide electricity through the national grid have ⁠repeatedly stalled due to political bickering and the vested interests of senior politicians in the fuel and energy sectors.

The proposal would build on a growing Qatari presence in neighboring Syria, where Qatari conglomerate Power International Holding has secured contracts for 5,000 MW of power generation, as well as oil and gas extraction and pipelines.

Business

Environment Minister Opens Saudi Agriculture Exhibition 2026

Minister of Environment, Water and Agriculture Abdulrahman Alfadley inaugurates the Saudi Agriculture Exhibition 2026 in Riyadh on Monday. (SPA)
Minister of Environment, Water and Agriculture Abdulrahman Alfadley inaugurates the Saudi Agriculture Exhibition 2026 in Riyadh on Monday. (SPA)
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Environment Minister Opens Saudi Agriculture Exhibition 2026

Minister of Environment, Water and Agriculture Abdulrahman Alfadley inaugurates the Saudi Agriculture Exhibition 2026 in Riyadh on Monday. (SPA)
Minister of Environment, Water and Agriculture Abdulrahman Alfadley inaugurates the Saudi Agriculture Exhibition 2026 in Riyadh on Monday. (SPA)

Minister of Environment, Water and Agriculture Abdulrahman Alfadley inaugurated on Monday the Saudi Agriculture Exhibition 2026, held at the Riyadh International Convention and Exhibition Center from October 19 to 22 under the theme "An Integrated Agricultural System for a Sustainable Future."

The 43rd edition of the exhibition brings together a broad range of local and international participants, including government entities, private sector companies, decision-makers, investors, and industry professionals, to strengthen the agricultural sector's contribution to food security in line with Saudi Vision 2030.

Riyadh Exhibitions Company Chairman Prince Saud bin Turki bin Faisal bin Abdulaziz said the exhibition's continued success over more than four decades reflects its international standing as a leading platform for bringing together local and international expertise, fostering partnerships, and promoting innovation in agriculture and food production.

He noted that this year's edition highlights the latest solutions and technologies aimed at increasing productivity, improving resource-use efficiency, and supporting food security. These efforts also strengthen the sector's ability to address environmental and climate challenges while advancing its development and sustainability.

Alfadley toured the exhibition's pavilions, which cover several sectors, including agricultural and organic food, poultry, livestock, mills, animal feed, and animal health, as well as aquaculture, food processing and packaging, innovation and entrepreneurship, and veterinary services.

The exhibition hosted the signing of agreements and memoranda of understanding among government and semi-government entities, private sector organizations, and international agricultural companies to support the food and agriculture sector, stimulate economic growth, and promote the adoption of modern agricultural technologies.

Held alongside the exhibition, the Saudi International Conference on the Future of Agriculture brings together leading experts and specialists from Saudi Arabia and abroad to discuss key issues related to agricultural technologies and food security.

The conference examines emerging opportunities in the Kingdom's agricultural sector, agricultural initiatives, advanced technologies, and their role in strengthening food security, as well as climate change, project financing, biotechnology, soil science, and water management.

For more than 40 years, the Saudi Agriculture Exhibition has kept pace with developments in agriculture, food production, and related technologies, serving professionals and stakeholders across the industry. This year's edition focuses on promoting innovative solutions to advance agricultural development and strengthen food security in line with Saudi Vision 2030.