The Arab ministers concerned with mineral resources affairs approved the Arab Industrial Development and Mining Organization (AIDMO) proposal to prepare guidelines for Arab countries to keep pace with global trends and adopt best practices in the industry.
The ministers held their eighth consultative meeting on the sidelines of the Future Mineral Forum in Riyadh.
The Saudi Ministry of Industry and Mineral Resources concluded the Future Minerals Forum, held between January 11 and 13 under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz.
It said the conference succeeded in highlighting the role of Saudi Arabia and its future vision in leading this sector at the regional and international levels.
Fifteen ministers from outside the Kingdom and representatives of over 32 countries took part in the Forum.
Importance of the Arab initiative for clean energy minerals
The ministers stressed the importance of the Arab initiative for minerals used in the clear energy fields, which the organization proposed in line with international efforts to reach cleaner energy systems with fewer emissions to address climate change.
They stressed the need to keep pace with the technological developments and utilize them to realize sustainable development in the Arab mining sector, bolster mining status, boost its value and enhance its value chain.
The ministers lauded the launch of the first digital platform specialized in the application and supplies of Arab industrial and mining products with the support of Saudi Arabia.
They said this critical step will help develop the mining sector in Arab countries.
The Forum witnessed distinguished participation at the level of governments, international organizations, major mining companies, financial institutions, academics, researchers, and concerned people from Saudi Arabia and the world.
The Forum was also attended by distinguished speakers, including ministers, experts, and field specialists from various government institutions.
The Ministry of Industry and Mineral Resources said more than 100 leading figures and international mining companies took part in 40 panel discussions at the Forum.
The discussions addressed the future of the mining sector, its contributions to developing societies, enhancing sustainability and clean energy systems, and attracting direct investments in the mining sector in the region.
Over 3,500 participants and 4,000 virtual participants from 100 countries attended the conference. It also attracted millions of people who followed the live broadcast and on social media.
Roundtable meetings
Roundtable meetings with Arab ministers and officials concerned with the mining sector from 32 countries were held on the sidelines of the event.
The talks aimed at providing investors, mining companies, and concerned parties an opportunity to meet and review the potential and opportunities in the mining sector in Saudi Arabia, the Middle East, Central Asia, and Africa.
The discussions included establishing stronger cooperation across the region, enhancing coordination and collaboration between governments and their private sector and civil community partners to develop sustainable, responsible, and comprehensive mining.
Participants said the international mining sector is characterized by challenges and significant opportunities, especially in the post-coronavirus stage.
They discussed procedures of mining companies in dealing with public health risks related to the coronavirus pandemic, noting that they will lead to the recovery of the supply chains and increasing demand.
Talks also addressed the increasing demand for strategic minerals, which is expected to increase at a faster pace in the coming decades.
Participants agreed on the region's importance in providing minerals in response to the global demand, stressing the region's ability to meet the world's need in the future because it boasts significant reserves and resources of basic minerals due to its unique geological nature.
Role of Saudi Arabia in the mining sector
The ministry added that participants at the roundtable meetings announced a unanimous position on the importance of minerals for future societies and economies, calling for preparing a roadmap to realize progress in stakeholders' dialogue regarding mining industries.
The ministry also stressed that all participants commended the capabilities of Saudi Arabia in the sector.
The Kingdom enjoys several excellent elements that allow it to become a mining hub due to its centrality in a vital mining region extending from Africa, the Middle East to Central Asia.
They lauded the theme of the Forum that stems from the Kingdom's mining industries strategy to be a stimulus for investment in the sector in light of the increase of demand on minerals in the world, pushed by the modern industrial trends in renewable energy and electric cars, and other industries that rely on several strategic minerals.
