Saudi Arabia has expanded its position on the global scale as a major mining destination, outlining its industry ecosystem, robust infrastructure and partner success stories
In an appearance at MINExpo International 2021, Las Vegas, Khalid Al-Mudaifer, Vice-Minister of Mining Affairs for the Saudi Ministry of Industry and Mineral Resources, discussed the unique opportunity of
"Saudi Arabia is very open for business. Al-Mudaifer said that we have demonstrated a demonstrated track record of success with our international partners, providing an experience that matches global standards, "best-in-class," said Al Mudeifi. In addition, the government continues to support the development of mining by introducing major infrastructure changes, including road, rail, ports and electricity networks. Now is the time to join the mining industry's exponential growth.
Aside from speaking directly from the Vice-Minister, attendees were given insight into the industry experience, with Willem Jacobs, CEO, Africa and Middle East, Barrick, saying: "We enjoy working with the Saudi government and The biggest challenge for miners is access to infrastructure. Saudi Arabia has good infrastructure; it has excellent roads, airports, railway and port structures. The country is well positioned for export markets in the east and west. We find it very easy to reach export markets from where we are."
The Vice-Minister was joined by Musaed Al-Daood, Deputy Minister for Mining Development, and Hall Delano Roosevelt, President & CEO of the U.S.-Saudi Business
The delegation participated in high-level bilateral meetings with companies interested in doing business and investing in the mining sector. In addition to forming MINExpo attendees of Saudi Arabia's value proposition as a world-class mining destination, the
In conclusion, Vice-Minister Al-Mudaifer announced the details of the inaugural Future Minerals Summit (FMS), the first event to offer a "one-stop-shop" for investors, miners and
FMS will welcome delegates from around the world, including governments, investors, mining companies and corporations. The summit program is being built around four pillars: the summit programme and the next of four, the three of which are being developed.
- Defining a new mining hub Identifying opportunities across the Middle East, Central Asia, and North and East Africa.
- Lands of opportunity Outlining partnership opportunities across integrated value chains - Identifying partnerships and multichannel opportunities for the integrated cost chain.
- - Shining a spotlight on innovations that will support mining in the future. Reimagining mining: focusing on innovation that can support the industry in its future Taking reimagine & revitalize the
- The Industry's contribution to society to the development of circular carbon futures, highlighting the industry'' important role in bringing the inputs needed for a sustainable carbon and attracting the workforce of the future.
The Ministry of Investment, Public Investment Fund and the Ministry for Foreign Affairs supported FMS.
For more information, visit www.futuremineralssummit.com.
Mining Ecosystem and Infrastructure are the three largest companies in the world.
The Saudi Vision 2030 singled out mining to become the third pillar of the country's industrial growth, which led to the development of a comprehensive mining and mining industry development strategy, with nearly 40 initiatives identifying, most of which already
The regulatory framework for Saudi Arabia is being transformed and now designed to ensure efficient and transparent licensing, simplify business, and support a dynamic, sustainable mining industry.
- The document, based on global best practices, was published late last year, and supports a clear and transparent process for license applications and approvals and licenses.
- The new platform "Ta-adin" allows the users to access mining licenses, issuances and information from any point of view.
- New incentives have been implemented, including the provision of co-funding up to 75 percent of investment, a five-year royalty holiday for miners, discounts on royalties for local downstream production and support for Saudization costs.
The Kingdom has already attracted significant amounts of domestic and international investment in mining commodities such as gold, phosphate and aluminum.
This prior success has been based on various "baked in" advantages for prospective investors, such as: "The most common of the time" but not in the least, in a certain way that the success is largely
- High domestic demand for mineral production has a high demand in the country for imported productions of high quality materials.
- Large geographies, including MENA, Asia and Europe, include geographical placement in a key part of the world and proximity to end-user markets, particularly in major geography, such as EEA and Asia.
- Security and security, according to World Economic Forum's security index, are listed in the World Trade Forum Security Index, World Forum security ranking.
- In terms of the easing of business, the World Bank continues to progress in the "ease of doing business" - with the Arab Republic placing the top 10 in terms achieving an improved business climate.
- In order to build a strong infrastructure, including roads, rail, ports, and electricity network, et significant investment in water usage and infrastructure - and Invest in i.e., in infrastructure and energy usage, investments
The Arabian Shield is estimated to contain 1,3 trillion dollars worth of potential mineral value across a variety of commodities, many of which are critical to the technologies that drive resilience and demand.
The recently launched National Geological Database provides access to the vast collection of historical records, including thousands of detailed reports on mining targets and prospects.
Recently announced a major Regional Geological Survey Program (supported by government investment of more than 500,000 dollars) is currently under way and will conduct geophysical and geochemical surveys and create detailed map mapping of nearly 700,000 square kilometers of Arabia
The Kingdom has launched the Mining Sector Sustainability Assurance Initiative (MINS) to create a sector focused on balancing economic value and environmental protection.
The new mining law ensures that sustainable practices are the foremost priority of new mine operators, as they apply for licenses.
The Arabian shield is an untapped land of opportunities with a estimated value of 1,3 trillion dollars of minerals that will power resuscita o durable future. The atomic shield of Arabia is arguably an unused land
The legal and regulatory framework for Saudi Arabia for mining assures efficiency, transparency and simplifies business, and supports a sustainable mining industry.
#MINE21 is the #mINE 21.
Mining in KSA offers international partners the best-in-class experience, benchmarked against global standards.
Sustainability is the central bank of the KSA mining sector, demonstrated by its principles and sustainability assurance initiative. Sustainability assurance is a sustainable assurance programme, which demonstrates the importance of sustainability as axes of its principle and foundations.
SOURCE The Ministry of Industry and Mineral Resources (MIM) has the Ministry.