Alkhorayef: Fair Partnerships and Sustainable Investment to Secure Global Critical Mineral Supply Chains

His Excellency the Minister of Industry and Mineral Resources, Bandar bin Ibrahim Alkhorayef, stressed the importance of securing supply chains for critical minerals, particularly in the region stretching from Africa to Central and West Asia, given its vast resources that are essential to the global energy transition. He made the remarks during the second dialogue session as part of the fourth edition of the International Mining Conference, hosted by the Saudi capital Riyadh with record participation.

International Participation in a Key Session
The session, held under the title "What Practical Steps Can the World Take to Manage Competition Over Critical Minerals?," brought together a group of leading international officials, including Brazil's Minister of Mines and Energy Alexandre Silveira, Deputy U.S. Special Presidential Coordinator for the Partnership for Global Infrastructure and Investment Helaina Matza, Morocco's Minister of Energy Transition and Sustainable Development Leila Benali, and Lord Gerry Grimstone, chairman of Gemcorp Capital Management.

Bridging the Gap Between Wealth and Potential
Alkhorayef said there is a significant gap between the enormous potential of mineral resources in the region stretching from Africa to Asia and its contribution to global markets. He called on consuming nations to adopt constructive, comprehensive investments that go beyond simply extracting resources, pointing to the importance of infrastructure development, particularly in Africa, where much wealth remains underutilized.

The Saudi Model: Investing in People and Communities
The minister presented the Kingdom's experience in mining investment as a successful model for comprehensive development, explaining that oil revenues were invested in building people and communities, contributing to comprehensive and sustainable economic diversification. He also pointed to the experience of the Northern Borders region, rich in phosphate, where investments by Ma'aden led to the construction of integrated infrastructure and the development of local communities, underscoring the importance of mining investment as a tool for social and economic development.

International Cooperation: The Key to a Successful Energy Transition
Alkhorayef concluded his remarks by stressing the need to build fair global partnerships between producing and consuming nations of critical minerals. He explained that investing in infrastructure and building local capacity in mineral-rich regions is the only way to achieve a sustainable energy transition, while ensuring fair economic and social gains for all parties.

International Mining Conference: A Global Platform for Cooperation and Sustainability
The fourth edition of the International Mining Conference, which opened today in Riyadh, saw prominent global attendance exceeding 20,000 participants from 170 countries, with more than 250 speakers across 70 dialogue sessions. The conference discusses the latest developments in the mining sector, aiming to strengthen international cooperation, highlight challenges and opportunities, and achieve sustainable development in the sector globally.