RIYADH: Saudi Arabia is on track to boost the localization of professions related to the mining sector thanks to a new agreement signed by the Human Resources Development Fund.
Inked with the Saudi Arabian Mining Co., also known as Ma’aden, the memorandum of understanding aims to enhance cooperation and partnerships between the two parties to develop human capital in the sector, according to a statement.
This move falls in line with the common goals of the two sides and aligns well with the Kingdom’s Vision 2030 in developing human capabilities and enabling them to get promising job opportunities.
It also reflects the accelerating growth of the mining sector in Saudi Arabia and globally. Under the terms of the newly signed MoU, the two sides will work to support the training and empowerment of suppliers in Ma’aden’s local content program, Tharwa, in accordance with the controls approved by the fund.
The mining firm launched Tharwa in 2022. It encompasses the company’s vision to create a wealth of resources in the Kingdom.
The deal will also see both sides ensure that trainees receive appropriate support solutions and motivation plans.
Additionally, the agreement entails studying the possibilities for achieving sustainability in the mining and mineral wealth sector, which is vital to strengthening the national economy.
The two parties agreed to form a joint working group that includes specialists to activate areas of cooperation as well as work to prepare unified periodic reports that outline the progress in the agreed upon areas.
Ma’aden is an important figure in the field as it is the largest multi-commodity mining and metals company in the Middle East. Its manufacturing capabilities include producing phosphate fertilizers, aluminum metal, and gold.
In January, the firm secured international recognition with a certificate for producing 614,000 tonnes of ultra-low carbon ammonia, the largest quantity acknowledged globally.
The endorsement from Det Norske Veritas at the time signified a substantial stride in Ma’aden’s plans to expand and transform its operations, aspiring to become an environmental, social, and governance role model in the Kingdom.
This accreditation, which was received at the time, also highlighted the mining firm’s commitment to operational excellence and expanding its product range.
