Riyadh: The Fourth Annual International Ministerial Meeting of Mining Ministers, held in conjunction with the Future Minerals Forum, concluded on Tuesday in Riyadh. The event saw the participation of ministers and senior government officials from at least 89 countries, including 16 Group of Twenty (G20) nations, as well as 50 international governmental and non-governmental organizations, commodity trade unions, and global leaders in the mining and minerals industry.
According to Saudi Press Agency, Minister of Industry and Mineral Resources and chairman of the meeting, Bandar Alkhorayef, opened the event with a speech highlighting the importance of continuing international cooperation to address the challenges facing the mining and minerals sector. He underscored the sector’s role in achieving sustainable development. Alkhorayef addressed the significance of topics under discussion at the meeting in achieving tangible positive changes in the mining sector through enhancing transparency and sustainability and encouraging investment in infrastructure and modern technologies.
He emphasized that joint efforts between governments, related industries, and communities are key to achieving the desired goals. The minister stressed that the meeting aims to establish a general agreement on minerals to ensure the sustainability of global supply chains. Moreover, he urged participants to present their ideas and initiatives that would enhance international cooperation and build strategic partnerships, contributing to the achievement of the meeting’s goals, which aim to build a prosperous future for the global mining and minerals sector.
Meanwhile, the final statement of the meeting highlighted the participants’ acknowledgement of Saudi Arabia’s significant role in promoting global dialogue on the mining and minerals sector. It praised the Future Minerals Forum and the International Ministerial Meeting as leading global platforms that allow both mineral-producing and -consuming countries to collaborate to take practical steps to increase investments in the field, enhance local value, build capacities, and train skilled personnel. The statement also emphasized the importance of ensuring reliable and responsible exploration and production operations that are mindful of environmental and community impacts surrounding mining projects.
Participants praised the overall results achieved by the coordination groups, which reflected the commitment of countries to translate discussions into actionable steps that contribute to enhancing sustainable development, increasing investments, and developing the mining sector as a key pillar of the global economy. They also emphasized the importance of focusing on these initiatives, considering them a crucial step toward creating a comprehensive roadmap for sustainable development that balances optimal resource utilization with environmental preservation.
Alkhorayef briefed participants on the progress made in establishing a regional network of excellence centers in Africa and West and Central Asia in 2024. In this regard, the participating ministers commended the positive impact of these efforts, which resulted from the previous ministerial meeting of the Future Minerals Forum. The network is intended to be a fundamental pillar of the international framework, aiming to build capacity in developing countries by training and preparing youth to seize the job opportunities provided by the growing mining and minerals sector. It also aims to foster technological innovation, achieve outstanding sustainability performance, and enhance geological surveying and exploration processes.
Additionally, the meeting reviewed the first phase of the Excellence Centers Network, which consists of nine centers coordinated through the platform of the Future Minerals Forum. The network aims to enable and develop future mining industries in an environmentally sustainable manner while maximizing social and economic benefits in Africa and West and Central Asia. Meanwhile, meeting participants agreed to take further steps towards achieving a General Agreement on Minerals, including new partnership models based on comprehensive cooperation to increase investments in mineral supplies. In this regard, a roadmap for cooperation was presented, aiming to reduce investment risks. Participants called on relevant international organizations to take the lead in this effort, noting that the results of the first phase of such practical steps will be beneficial for implementation in the following phases.