Riyadh: The Ministry of Industry and Mineral Resources and the World Economic Forum have announced a cooperation agreement, signed during the Future Minerals Forum (FMF) in Riyadh. Present at the signing were Minister of Industry and Mineral Resources Bandar Alkhorayef, FMF Chief Executive Ali Al-Mutairi, and World Economic Forum Executive Committee Member Fernando J. G³mez.
According to Saudi Press Agency, the agreement outlines a collaborative effort that will last until September 2027. FMF will be the central platform for implementing and managing discussions related to this initiative. The cooperation seeks to consolidate efforts to build partnerships around critical minerals necessary for energy and technological advancements. This initiative aims to ensure a resilient, sustainable, and responsible supply of minerals, meeting industrial objectives and supporting the energy transition. A joint executive committee, consisting of ministry and World Economic Forum representatives, will oversee the initiative.
The Future Minerals Forum and the World Economic Forum will mobilize both public and private sectors to boost resilience, transparency, and capacity building across mineral value chains. This includes developing insights and knowledge on mineral traceability and policy options to enhance supply. These efforts will complement FMF’s ongoing initiatives to promote standards and best practices within the sector.
Minister Alkhorayef emphasized that this partnership is a significant step toward achieving FMF’s goals of creating a sustainable and equitable global minerals ecosystem. He noted that the collaboration with the World Economic Forum aligns with Saudi Arabia’s vision of becoming a key hub in global mineral value chains.
G³mez expressed optimism about the partnership, highlighting that securing resilient and sustainable mineral supplies necessitates collaboration across sectors and borders. This partnership aims to unlock the potential of mineral resources as catalysts for sustainable growth and shared prosperity.
This initiative further strengthens Saudi Arabia’s efforts in fostering international collaboration on minerals. Since its inception in 2022, the Future Minerals Forum has become a global platform for shaping the future of minerals, providing a space for cross-sector dialogue that promotes action and leadership in mineral traceability and sustainability.
The agreement will enable enhanced cooperation between governments and the private sector, support policies, best practices, and innovations across mineral supply chains, address sustainability and efficiency challenges, and strengthen environmental, social, and corporate governance standards.
The World Economic Forum’s involvement underscores its role as a neutral, non-profit international organization that supports cross-sector cooperation and promotes solution-oriented dialogue for resource sustainability and inclusive growth. The outcomes of this project are expected to contribute to the sixth edition of FMF, scheduled to be hosted in Riyadh in January 2027.
Notably, FMF gathers senior government representatives, policymakers, industry leaders, non-governmental organizations, academic institutions, and stakeholders from across the mineral value chain. This assembly aims to address sector challenges, enhance investment opportunities, and ensure responsible and resilient mineral supplies.