Deputy Minister of Industry: Saudi Arabia to Establish International Frameworks for Sustainability in Mining Sector

Deputy Minister of Industry and Mineral Resources for Mining Affairs Eng. Khalid Al-Mudaifer (Photo: Turki Al-Aqili)
Deputy Minister of Industry and Mineral Resources for Mining Affairs Eng. Khalid Al-Mudaifer (Photo: Turki Al-Aqili)
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Deputy Minister of Industry: Saudi Arabia to Establish International Frameworks for Sustainability in Mining Sector

Deputy Minister of Industry and Mineral Resources for Mining Affairs Eng. Khalid Al-Mudaifer (Photo: Turki Al-Aqili)
Deputy Minister of Industry and Mineral Resources for Mining Affairs Eng. Khalid Al-Mudaifer (Photo: Turki Al-Aqili)

Saudi Deputy Minister of Industry and Mineral Resources for Mining Affairs Eng. Khalid Al-Mudaifer revealed that spending on exploration in Saudi Arabia’s mining sector has seen a significant rise, increasing from approximately SAR 100 million ($26.6 million) in 2018 to over SAR 500 million ($133.3 million) annually.

Al-Mudaifer stated that these funds are being invested in local service companies, including drilling and laboratory services, as well as employing Saudi and international professionals.

The deputy minister made these remarks during a press conference held to unveil details of the fourth edition of the International Mining Conference, scheduled to take place in Riyadh from January 14-16.

Al-Mudaifer described the conference as a key platform for addressing challenges in the mining sector and finding practical solutions. The event will host representatives from 85 countries, including mineral producers and consumers, alongside over 50 international organizations, trade unions, and community organizations.

The conference will feature more than 75 sessions with over 250 speakers, including ministers and senior local and international officials, covering pressing topics such as project financing, promoting future mining zones, the role of minerals in community development, and the impact of technology on the sector.

Al-Mudaifer emphasized Saudi Arabia’s ambition to establish international cooperation frameworks in mining, driven by its historical significance and geographic location as a trusted energy supplier. He highlighted the need for a unified global effort to address the sector’s growing challenges, including insufficient exploration spending, which currently falls short of the level required to achieve sustainable growth.

The deputy minister noted that increased exploration investment, technological innovation, and attracting further investment are essential for overcoming these challenges. Despite these obstacles, he remains optimistic, citing the rising global demand for minerals as a significant economic growth driver.

Saudi Arabia is experiencing significant opportunities in mining, particularly in exploration. Al-Mudaifer pointed out that new mineralized zones, covering areas between 2,000 and 4,000 square kilometers, have been announced for 2024—a tenfold increase compared to 2023.

Previously, only 1,000 square kilometers were allocated annually for exploration, but this year, approximately 10,000 square kilometers were offered, he remarked. Several major international companies have entered the latest investment competitions, committing to exploration spending, employing young Saudi geologists, and supporting local communities near exploration sites.

Investments and Regulatory Advancements

According to Al-Mudaifer, Saudi Arabia has seen substantial investments in the mining and minerals sectors, particularly in iron, aluminum, electric vehicle batteries, copper, and chemicals. Current investments exceed SAR 120 billion ($32 billion) and are projected to reach SAR 300 billion ($80 billion) by 2035.

He also noted that the Kingdom, is one of the fastest-advancing countries in developing mining regulations and infrastructure. This progress is attributed to the comprehensive strategies under Saudi Vision 2030, which seek to position the Kingdom as a global leader in all sectors, with a strong focus on sustainability.

Aramco Fields

Al-Mudaifer disclosed that Saudi Arabia successfully extracted lithium from brine samples in Aramco’s fields and is planning to launch a commercial pilot program for direct lithium extraction soon. The project will be led by Lithium Infinity (LihyTech), a startup from King Abdullah University of Science and Technology, in collaboration with Aramco and the Saudi Arabian Mining Company (Ma’aden).

Sustainable Development

Ali Al-Mutairi, General Supervisor of the International Mining Conference, stated that inclusivity will be a cornerstone of the event, which aims to bring together all stakeholders in the global mining industry, including governments, international policy-making organizations, NGOs, and investors with the financial capacity to support major projects.

One of the primary goals of the sector, he added, is to foster community development, aligning with the focus of rights of organizations on environmental sustainability and talent development to create job opportunities and promote sustainable growth.

Global Networks

The upcoming conference will spotlight G20 nations and other resource-rich countries, drawing participation from 85 nations and various organizations, including UN-affiliated ones.

A notable new event on the conference’s sidelines will be a meeting of global centers of excellence and technology to establish a regional and international network aimed at building human capacity, accelerating the adoption of advanced technologies, and transferring expertise from developed to less-developed countries.

The conference will also introduce the Investment Pathway, a two-day program designed to address one of the mining industry’s critical challenges: financing, particularly for early-stage exploration projects.

Knowledge Exchange

The accompanying three-day exhibition will focus on modern mining technologies, Al-Mutairi said, adding that it will feature national pavilions from leading mineral-producing countries, including Australia, Canada, Brazil, and India, fostering technological and knowledge exchange.

For the first time, the conference will host a Knowledge Exchange Day, providing a dedicated platform to share the latest developments in mineral information, geology, technology, sustainability, and talent development, with the aim to enhance collaboration and expertise-sharing among global specialists.



Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
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Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)

Egypt announced plans on Monday for a new $1 billion marina, hotel and housing development on the Red Sea in a bid to boost the region's tourist industry.

Construction on the "Monte Galala Towers and Marina" project would ‌start in ‌the second ‌half ⁠of the ‌year and run for seven years, Ahmed Shalaby, managing director of the main developer, Tatweer Misr, said.

The 10-tower development - a partnership with the ⁠housing ministry and other state bodies ‌including the armed ‍forces' engineering authority - ‍would cost about 50 ‍billion Egyptian pounds ($1.07 billion), he added.

The project, also announced by the cabinet, will cover 470,000 square meters on the Gulf of Suez, about ⁠35 km south of Ain Sokhna, Shalaby said.

Egypt aims to boost total tourist arrivals to around 30 million by 2030, from around 19 million recorded by the tourism ministry in 2025.


Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
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Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA

The Saudi-Polish Investment Forum was held today at the headquarters of the Federation of Saudi Chambers in Riyadh, with the participation of Minister of Investment Khalid Al-Falih, Minister of Finance of the Republic of Poland Andrzej Domański, and Vice President of the Federation of Saudi Chambers Emad Al-Fakhri.

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation, expanding investment partnerships in priority sectors, and exploring high-quality investment opportunities that support sustainable growth in Saudi Arabia and Poland.

During a dedicated session, the forum reviewed economic and investment prospects in both countries through presentations highlighting promising opportunities, investment enablers, and supportive legislative environments.

Several specialized roundtables addressed strategic themes, including the development of the digital economy, with a focus on information and communication technologies (ICT), financial technologies (fintech), and artificial intelligence-driven innovation, SPA reported.

Discussions also covered the development of agricultural value chains from production to market access through advanced technologies, food processing, and agricultural machinery. In addition, participants examined ways to enhance the construction sector by developing systems and materials, improving execution efficiency, and accelerating delivery timelines. Energy security issues and the role of industrial sectors in supporting economic transformation and sustainability were also discussed.

The forum witnessed the announcement of two major investment agreements. The first aims to establish a framework for joint cooperation in supporting investment, exchanging information and expertise, and organizing joint business events to strengthen institutional partnerships.

The second agreement focuses on supporting reciprocal investments through the development of financing and insurance tools and the stimulation of joint ventures to boost investment flows.

The forum concluded by emphasizing the importance of continued coordination and dialogue between the public and private sectors in both countries to deepen Saudi-Polish economic relations and advance shared interests.


Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
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Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold prices rose on Monday, buoyed by a softer dollar as investors braced for a week packed with US economic data that could offer more clues on the US Federal Reserve's monetary policy.

Spot gold rose 1.2% to $5,018.56 per ounce by 9:30 a.m. ET (1430 GMT), extending a 4% rally from Friday.

US gold futures for April delivery also gained 1.3% to $5,042.20 per ounce.

The US dollar fell 0.8% to a more than one-week low, making greenback-priced bullion cheaper for overseas buyers.

"The big mover today (in gold prices) is the US dollar," said Bart Melek, global head of commodity strategy at TD Securities, adding that expectations are growing for weak economic data, particularly on the labor front, Reuters reported.

Investors are closely watching this week's release of US nonfarm payrolls, consumer prices and initial jobless claims for fresh signals on monetary policy, with markets already pricing in at least two rate cuts of 25 basis points in 2026.

US nonfarm payrolls are expected to have risen by 70,000 in January, according to a Reuters poll.

Lower interest rates tend to support gold by reducing the opportunity cost of holding the non-yielding asset.

Meanwhile, China's central bank extended its gold buying spree for a 15th month in January, data from the People's Bank of China showed on Saturday.

"The debasement trade continues, with ongoing geopolitical risks driving people into gold," Melek said, adding that China's purchases have had a psychological impact on the market.

Spot silver climbed 2.9% to $80.22 per ounce after a near 10% gain in the previous session. It hit an all-time high of $121.64 on January 29.

Spot platinum was down 0.2% at $2,092.95 per ounce, while palladium was steady at $1,707.25.

"A slowdown in EV sales hasn't really materialized despite all the policy softening, so I do see that platinum and palladium will possibly slow down," after a bullish run in 2025, WisdomTree commodities strategist Nitesh Shah said.