RIYADH: Leading mining representatives from more than 85 countries will meet in Riyadh next week as the Future Minerals Forum discusses challenges and developments in the global mineral industries.
Key stakeholders, including governments, international organizations, business federations, investors, and sector leaders, will take part in the forum from Jan. 14-16 at the King Abdulaziz International Conference Center.
The event is being organized by Saudi Arabia’s Ministry of Industry and Mineral Resources under the patronage of King Salman.
According to the ministry, the fourth annual international ministerial meeting of mining ministers, due to take place on Jan. 14 as part of the forum, will feature its largest-ever number of government representatives and topics to be discussed.
Among the 85 countries represented will be 16 nations from the G20. At least 50 ministers and 13 deputy ministers are taking part, the ministry said.
The ministry said that over 50 official and nongovernmental organizations, along with trade unions and leading figures in the global mining industry, will attend the event, reflecting the significance of the gathering as a global platform to discuss mining and mineral industry affairs, ways to meet the growing demand for strategic and critical minerals, and new opportunities for development in mineral-producing and processing countries.
The meeting will focus on several issues, including progress made during the previous year concerning the three ministerial meeting initiatives, which include developing a strategic framework for critical minerals increasing value-added processing in mineral-producing countries, producing green minerals using modern technologies and renewable energy, and ensuring sustainability and transparency in supply chains.
Discussions will also focus on the establishment of centers of excellence in major mining regions to enable investment, build capabilities, and develop human resources.
Minister of Industry and Mineral Resources Bandar Alkhorayef will chair the meeting and deliver the opening address, highlighting Saudi Arabia’s commitment to sustainable mineral development and emphasizing its leadership role in advancing the sector’s future.
He will also discuss opportunities for global cooperation to face challenges and invest in the vast potential offered by the mineral sector.
Among the ministers attending the meeting are Italian Minister for the Environment and Energy Security Gilberto Pichetto Fratin; UK Secretary of State for Business and Trade Jonathan Reynolds; Brazilian Minister of Mines and Energy Alexandre Silveira; Indian Minister of Coal and Mines G. Kishan Reddy; South African Minister of Trade, Industry, and Competition Parks Tau; Democratic Republic of Congo Minister of Mines Kizito Pakabomba; Egyptian Minister of Petroleum and Mineral Resources Karim Badawi; Nigerian Minister of Solid Minerals Development Henry Dele Alake; and Moroccan Minister of Energy Transition and Sustainable Development Leila Benali.
Vice Minister of Industry and Mineral Resources for Mining Affairs Khalid bin Saleh Al-Mudaifer said that the meeting represents an important step toward achieving sustainable development in the global mining and minerals sector.
He said that the international ministerial meeting provides an ideal platform for finding solutions and developing legislation on best practices in sustainable mining, exploring ways to invest in mining projects to achieve economic and social development in producing countries.
In December a report was released by the FMF stating that global mining operations will need $5.4 trillion in capital investment by 2035 if the sector is going to meet growing demand.
The release revealed that this investment represents an increase of $500 billion compared to the previous decade.
Coal, iron ore, copper, and gold, which account for over 90 percent of the mass moved in global mining operations, were central to the report’s investigations.
It found that these commodities will demand more than 70 percent of total capital investment, with nearly 75 percent allocated to maintaining existing assets.
The steel value chain alone will require an estimated $1.6 trillion in sustaining capital expenditure, underlining its central role in meeting infrastructure and industrial needs.
Regions such as Asia Pacific, India, Latin America, and Sub-Saharan Africa will require over 40 percent of total capital investment, signaling a shift in capital flows toward emerging markets.
Additionally, the report projects that by 2040, the production of cathode materials, battery cells, and battery recycling could generate around $800 billion in annual revenue.
