RIYADH: Bringing different sectors under one umbrella is crucial for the development of the mining industry in Saudi Arabia as the Kingdom places more emphasis on mineral exploration, a leading government official has insisted
Speaking during a panel discussion at the Future Minerals Forum in Riyadh on Jan. 12, Suliman Al-Mazroua, CEO of Saudi Arabia’s National Industrial Development and Logistics Program, said the Kingdom has adopted long-term planning to make the nation a mining hub in a sustainable manner.
Key to this has been moves by the government to ensure various sectors are interlinked as much as possible, he said, adding: “Integration is the key to the development of the mining sector. We have a program in NIDLP, where the main job is to integrate the four sectors; mining, industry, logistics and energy.”
Al-Mazroua went on: “Long-term planning is the shortest path to the destination. Vision 2030 has a long-term plan with a clean framework of circular carbon economy that was adopted by G20.”
According to Al-Mazroua, some of the long-term game-changing initiatives adopted in the Kingdom to ensure sustainability include the development of the largest hydrogen plant in NEOM, the energy efficiency program implemented in the Kingdom, and the EV manufacturing facility in the King Abdullah Economic City.
“Our main target is to have 50 percent of our power generation coming from renewable sources,” he added.
Al-Mazroua further noted that Saudi Arabia’s government is providing a healthy business atmosphere for mining companies to come and operate in the Kingdom.
“The private sector should always be in the driving seat for development. The government provides enablers and incentives for the ease of doing the mining,” he said.
Al-Mazroua added that Saudi Arabia is not only trying to accelerate mining operations to catalyze energy transition, but is also working on innovative practices to ensure sustainable operations in the mining sector.
“Saudi Arabia is on both sides; supply and demand. We contribute on the innovation side to achieve sustainability, and we also provide the world with more metals,” said Al-Mazroua.
The Future Minerals Forum is taking place in Riyadh from Jan. 10 to Jan. 12, and is set to tackle several topics, including sustainability, the future of mining, energy transition, the contribution of minerals to the development of societies, digital transformation, and integrated value chains.
More than 200 speakers from around the world are due to address the event, including ministers, business leaders, and industry experts.
The Forum, which held its inaugural meeting in 2022, comes as Saudi Arabia seeks to boost its mining sector in keeping with plans under the Vision 2030 initiative to diversify the Kingdom’s economy away from oil.
