Los angeles: Minister of Industry and Mineral Resources Bandar Alkhorayef emphasized the importance of adopting a comprehensive, integrated approach across value chains in the mining sector. This approach aims to enhance the attractiveness of investment in critical minerals and address challenges related to geopolitical risks and global market volatility.
According to Saudi Press Agency, his remarks came during a panel discussion titled 'Beyond Borders: Unlocking Critical Mineral Investment Opportunities,' held as part of the Milken Institute Global Conference in Los Angeles. The session included leaders, decision-makers, and investors from the mining sector worldwide.
Alkhorayef noted that investment in the mining sector is inherently long-term. It requires a comprehensive evaluation of projects across all stages, from exploration to processing, logistics, and final supply chains. He stressed that such integration is essential for enabling investments and enhancing sustainability.
He added that rising global demand for minerals requires stronger collaboration between governments, the private sector, and financial institutions to mitigate risks and stimulate capital flows needed to develop new mining projects.
The minister highlighted the Kingdom's launch of the Future Minerals Forum. It has become a global platform bringing together stakeholders across the sector, including governments, companies, financial institutions, technology providers, and academia, to foster dialogue, coordinate efforts, and ensure sustainable mineral supply.
He emphasized that the Kingdom views mining as a key economic pillar for diversifying the production base, accelerating industrialization, and leveraging its strategic geographic location to connect global markets. He also noted the Kingdom's competitive advantages in the energy sector, which enhance its capacity for local mineral processing and attract raw materials from international markets.
Alkhorayef stated: 'We are working on developing a comprehensive framework for critical minerals that spans all elements of the value chain, including geology, finance, infrastructure, technology, human capital, regulation, and sustainability.'