The Third Ministerial Meeting for Ministers concerned with Mining Affairs concluded today in Riyadh, held as part of the International Mining Conference, which took place from January 9 to 11, 2024, under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, at the King Abdulaziz International Conference Center in Riyadh.
His Excellency, Minister of Industry and Mineral Resources and Chair of the third International Ministerial Meeting for Mining Affairs, Mr. Bandar bin Ibrahim Al-Khorayef, opened the meeting with a speech emphasizing that the main theme of the meeting was to turn discussions into actions. He stated, “I am proud of what we have already achieved through previous discussions, and I fully realize that we can build on our successes even more, as we have a great opportunity today to build on the four initiatives we agreed on at this time last year. These include developing a framework for critical minerals in the greater region, defining responsible regional supply forecasts for vital minerals, developing capacities through centers of excellence, and establishing regional green mineral centers supported by advanced technologies.”
During the meeting, Mr. Al-Khorayef addressed the participants, noting that when the world looks at the hub of global work in the mineral sector, it is looking at us, as this is the only true global conference to shape the future of minerals.
A press statement issued at the conclusion of the meeting, which was attended by 79 countries and 35 governmental and non-governmental organizations, confirmed that the participants emphasized the need for practical steps to enhance cooperation between governments and international organizations to establish resilient and responsible value chains for minerals in the major mining region stretching from Africa to West and Central Asia. They also stressed the importance of providing the necessary investments to develop exploration, production, and processing of minerals in this region to support international efforts toward achieving the goals set out in the 2015 Paris Climate Agreement.
The participants agreed that the entire major mining region needs to transition from exporting raw minerals to producing high-value-added mineral products. They also acknowledged that the region currently lacks the production capacity to meet the anticipated demand for minerals, which will require innovating new methods for exploring, extracting, and processing strategic and rare minerals, as well as exploring mining areas efficiently and with higher returns on smaller areas. They emphasized the need to adopt safer and more socially and environmentally responsible mining practices.
Regarding the region’s aspirations to establish reliable mineral supply chains, the participants expressed their support for developing a future framework for the sustainability of the mineral sector in the major mining region, ensuring transparency and the development of an actionable plan in partnership with regional and international accreditation organizations. They appreciated the efforts made by international organizations to enhance sustainability standards in the mining sector, affirming the importance of the International Mining Conference in these efforts to ensure sustainability in the mining and mineral industries within the major mining region.
During the meeting, Minister Al-Khorayef informed the participants about Saudi Arabia's plan to establish an incubator for regional centers of excellence in the mining sector as a first step toward building a network of excellence centers in the region. These centers will serve as hubs for developing and exchanging innovations in mineral discovery, processing, and capacity development, linking with other centers in the major mining region to increase their contribution to future mineral supplies and play a key role in the transition to clean energy and responsible mineral production.
The meeting also discussed the importance of joint efforts to build mineral supply chains that can maintain sustainability and reliability in the face of emerging challenges. The participants agreed to consider forming a regional working group under the umbrella of the International Mining Conference, focused on mining affairs and open to participation from other relevant international organizations.
The participants agreed to create coordination and working groups composed of governments and interested organizations to consult within the framework of the International Mining Conference, providing a space for idea exchange, developing initiatives and action plans, and reporting to participants by mid-2024 with recommendations for the 2025 International Mining Conference.
In conclusion, the participants in the third Ministerial Meeting for Ministers concerned with Mining Affairs expressed their gratitude and appreciation to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, for his support and care for the International Mining Conference. They affirmed that this large international ministerial gathering reflects the vision of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, in enhancing joint work and cooperation and his ongoing efforts to expand the Kingdom's hosting of international and regional summits.
