The fourth edition of the International Mining Conference in Riyadh saw the signing of 126 agreements and memoranda of understanding worth a combined total exceeding SR 107 billion, marking a qualitative leap in strengthening Saudi Arabia's mining sector. The agreements are aimed at supporting key areas including exploration, mining, financing, research and development, innovation, sustainability, value-added chains and mineral industries.

High-Level Attendance and Expanded International Cooperation

The signing ceremony was attended by a group of prominent figures, including:

  • His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy.
  • His Excellency Eng. Khalid Al-Falih, Minister of Investment.
  • His Excellency Bandar bin Ibrahim Alkhorayef, Minister of Industry and Mineral Resources.
  • His Excellency Eng. Khalid Al-Mudaifer, Deputy Minister of Industry and Mineral Resources for Mining Affairs.

Representatives from both the public and private sectors also took part, presenting a unified vision for the future of the mining sector.

Highlights of the Agreements Signed

  1. Building an integrated flat-steel production plant:
    • A memorandum of understanding between the Royal Commission for Jubail and Yanbu and Toyo-Kohan Al Arabia.
    • Project goal: supporting value-added chains in the steel sector and boosting exports.
  2. Producing raw iron ingots in Ras Al-Khair:
    • A cooperation agreement between the Royal Commission and Vale.
    • Strengthening raw-material supplies for national and global industries.
  3. Building a copper smelter and refinery:
    • A memorandum of understanding between the Royal Commission and Vedanta Limited.
    • Production capacity: 400,000 tons of copper annually.
  4. Supporting deep-sea mining:
    • A memorandum of understanding between Mikaal Financial and a deep-sea mining company.
    • Goal: establishing a fund to support deep-sea mineral-exploration projects.
  5. Developing advanced materials manufacturing:
    • A memorandum of understanding between National Industrialization Company and Shanghai Dongheixin.
    • Focus on raising production efficiency and industrial development.

Notable Strategic Projects

  • A joint project between Aramco and Ma'aden: targeting critical minerals needed for the energy transition, integrating digital technologies and exploration expertise.
  • An expansion project at the Mansourah and Massarah mine: uncovering promising deposits in Wadi Al-Jaw and Shayban.
  • Hadeed's acquisition of Al-Rajhi Steel Industries: investments worth SR 25 billion to support major projects.
  • Building the first integrated steel plant outside China: a partnership between China's Baosteel, Aramco and the Public Investment Fund.