Saudi Arabia Showcases Mining Investment Opportunities at LME Week in London 

Saudi Vice Minister for Mining Affairs Eng. Khalid Al-Mudaifer speaks at the event in London. (SPA)
Saudi Vice Minister for Mining Affairs Eng. Khalid Al-Mudaifer speaks at the event in London. (SPA)
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Saudi Arabia Showcases Mining Investment Opportunities at LME Week in London 

Saudi Vice Minister for Mining Affairs Eng. Khalid Al-Mudaifer speaks at the event in London. (SPA)
Saudi Vice Minister for Mining Affairs Eng. Khalid Al-Mudaifer speaks at the event in London. (SPA)

Saudi Arabia’s Ministry of Industry and Mineral Resources (MIM) underlined the Kingdom’s growing role as a global mining hub at London Metal Exchange (LME) Week 2025, reported the Saudi Press Agency on Friday.

During an event titled “Saudi Day at LME Week”, the Ministry highlighted Saudi Arabia’s growing role as a global mining hub, attracting investments across the entire value chain - from exploration to processing and production. These efforts are in line with Saudi Vision 2030, which positions mining as the third pillar of the national economy alongside energy and petrochemicals.

Speaking at the event, Vice Minister for Mining Affairs Eng. Khalid Al-Mudaifer reviewed the reforms implemented by the Kingdom in the mining sector and its untapped mineral wealth, estimated at over SAR9.4 trillion (USD2.5 trillion). He underscored Saudi Arabia’s commitment to building strong global partnerships in mining and minerals.

He outlined the Kingdom’s most significant achievements in the sector, including updating the legislative framework, launching pioneering national programs such as the National Minerals Program, expanding exploration activities, enhancing regulations, and supporting private-sector participation - all aimed at attracting qualitative investments and reinforcing the Kingdom’s collaboration with international partners in developing the strategic industry.

Mining is not merely a resource sector, but a core driver of Saudi Arabia’s economic transformation, he stressed, noting that under Vision 2030, the Kingdom is seeking to position itself as a preferred partner for global investors, innovators, and companies pursuing a responsible and resilient future in minerals.

The value of mineral resources has increased from SAR5 trillion to SAR9.4 trillion, with exploration activities expanding significantly, Al-Mudaifer revealed. The number of exploration companies rose from six in 2020 to 133 in 2023, and total exploration spending reached SAR102 billion in 2024, reflecting the Kingdom’s firm commitment to advancing mineral resource investments.

Saudi Arabia’s progress in the mining sector has gained wide international recognition. The Kingdom ranked 23rd globally in the 2024 Investment Attractiveness Index issued by Canada’s Fraser Institute, securing first place worldwide in political stability, 5th in socio-economic agreements, and 7th in environmental regulations.

The event featured a series of discussions with leading global mining figures. Maaden chief executive Bob Wilt discussed the company’s transformation into one of the world’s top ten mining companies and its ambitious expansion plans. Vale chief executive Gustavo Pimenta shared insights on building resilient cross-border partnerships, while Alcoa chief executive William Oplinger highlighted the company’s longstanding partnership with Saudi Arabia and future collaboration prospects. London Metal Exchange chief executive Matthew Chamberlain addressed the growing global demand for minerals and stressed the need to align investment, production, and consumer confidence.

A panel discussion on the future of mineral investment, moderated by former BBC news anchor David Eades, brought together key leaders including chief executive of Vale Base Metals Shaun Usmar; BMO managing director Rahim Bapoo; Standard Chartered global head of metals and mining Richard Horrocks-Taylor; and Dr. Kwasi Ampofo from BloombergNEF. Discussions centered on addressing financing challenges, geopolitical complexities, and the race to secure supply chains for critical minerals.

An accompanying exhibition showcased the strengths and innovations of the Kingdom’s mining and metals sector, highlighting abundant resources, a modern regulatory framework, advanced infrastructure, integrated value chains, and the use of AI-powered geophysical technologies, automation, energy efficiency, emissions reduction, recycling, and green metals.

The exhibition served as a practical platform for technical demonstrations, bilateral meetings, and partnership-building opportunities.

The event concluded with a forward-looking discussion on the upcoming 5th annual Future Minerals Forum (FMF), to be held in Riyadh from January 13 to 15 under the theme “Minerals: Confronting Challenges for a New Era of Development.”

The conference, organized by the Ministry of Industry and Mineral Resources, will gather ministers and executives from leading global mining companies such as BHP, Ivanhoe Mines, Rio Tinto, Ma’aden, Zijin, and Barrick Gold, reaffirming its position as a global platform for industry leaders in the mining sector.

Saudi Arabia’s participation in LME Week 2025 underscores its rising influence in the global minerals economy and its commitment to fostering international collaboration, innovation, and sustainable investment as demand for critical resources continues to accelerate worldwide.



IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
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IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA

The International Monetary Fund (IMF) and the Arab Monetary Fund (AMF) signed a memorandum of understanding (MoU) on the sidelines of the AlUla Conference on Emerging Market Economies (EME) to enhance cooperation between the two institutions.

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki, SPA reported.

The agreement aims to strengthen coordination in economic and financial policy areas, including surveillance and lending activities, data and analytical exchange, capacity building, and the provision of technical assistance, in support of regional financial and economic stability.

Both sides affirmed that the MoU represents an important step toward deepening their strategic partnership and strengthening the regional financial safety net, serving member countries and enhancing their ability to address economic challenges.


Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT
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Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT

The Federation of Saudi Chambers announced the formation of the first joint Saudi-Kuwaiti Business Council for its inaugural term (1447–1451 AH) and the election of Salman bin Hassan Al-Oqayel as its chairman.

Al-Oqayel said the council’s formation marks a pivotal milestone in economic relations between Saudi Arabia and Kuwait, reflecting a practical approach to enabling the business sectors in both countries to capitalize on promising investment opportunities and strengthen bilateral trade and investment partnerships, SPA reported.

He noted that trade between Saudi Arabia and Kuwait reached approximately SAR9.5 billion by the end of November 2025, including SAR8 billion in Saudi exports and SAR1.5 billion in Kuwaiti imports.


Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
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Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).

Harvard University economics professor Pol Antràs said Saudi Arabia represents an exceptional model in the shifting global trade landscape, differing fundamentally from traditional emerging-market frameworks. He also stressed that globalization has not ended but has instead re-formed into what he describes as fragmented integration.

Speaking to Asharq Al-Awsat on the sidelines of the AlUla Conference for Emerging Market Economies, Antràs said Saudi Arabia’s Vision-driven structural reforms position the Kingdom to benefit from the ongoing phase of fragmented integration, adding that the country’s strategic focus on logistics transformation and artificial intelligence constitutes a key engine for sustainable growth that extends beyond the volatility of global crises.

Antràs, the Robert G. Ory Professor of Economics at Harvard University, is one of the leading contemporary theorists of international trade. His research, which reshaped understanding of global value chains, focuses on how firms organize cross-border production and how regulation and technological change influence global trade flows and corporate decision-making.

He said conventional classifications of economies often obscure important structural differences, noting that the term emerging markets groups together countries with widely divergent industrial bases. Economies that depend heavily on manufacturing exports rely critically on market access and trade integration and therefore face stronger competitive pressures from Chinese exports that are increasingly shifting toward alternative markets.

Saudi Arabia, by contrast, exports extensively while facing limited direct competition from China in its primary export commodity, a situation that creates a strategic opportunity. The current environment allows the Kingdom to obtain imports from China at lower cost and access a broader range of goods that previously flowed largely toward the United States market.

Addressing how emerging economies should respond to dumping pressures and rising competition, Antràs said countries should minimize protectionist tendencies and instead position themselves as committed participants in the multilateral trading system, allowing foreign producers to access domestic markets while encouraging domestic firms to expand internationally.

He noted that although Chinese dumping presents concerns for countries with manufacturing sectors that compete directly with Chinese production, the risk is lower for Saudi Arabia because it does not maintain a large manufacturing base that overlaps directly with Chinese exports. Lower-cost imports could benefit Saudi consumers, while targeted policy tools such as credit programs, subsidies, and support for firms seeking to redesign and upgrade business models represent more effective responses than broad protectionist measures.

Globalization has not ended

Antràs said globalization continues but through more complex structures, with trade agreements increasingly negotiated through diverse arrangements rather than relying primarily on multilateral negotiations. Trade deals will continue to be concluded, but they are likely to become more complex, with uncertainty remaining a defining feature of the global trading environment.

Interest rates and artificial intelligence

According to Antràs, high global interest rates, combined with the additional risk premiums faced by emerging markets, are constraining investment, particularly in sectors that require export financing, capital expenditure, and continuous quality upgrading.

However, he noted that elevated interest rates partly reflect expectations of stronger long-term growth driven by artificial intelligence and broader technological transformation.

He also said if those growth expectations materialize, productivity gains could enable small and medium-sized enterprises to forecast demand more accurately and identify previously untapped markets, partially offsetting the negative effects of higher borrowing costs.

Employment concerns and the role of government

The Harvard professor warned that labor markets face a dual challenge stemming from intensified Chinese export competition and accelerating job automation driven by artificial intelligence, developments that could lead to significant disruptions, particularly among younger workers. He said governments must adopt proactive strategies requiring substantial fiscal resources to mitigate near-term labor-market shocks.

According to Antràs, productivity growth remains the central condition for success: if new technologies deliver the anticipated productivity gains, governments will gain the fiscal space needed to compensate affected groups and retrain the workforce, achieving a balance between addressing short-term disruptions and investing in long-term strategic gains.