LIVE: Future Mineral Forum, Day 2

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RIYADH: The second day of the Future Minerals Forum in Riyadh kicked off on Wednesday, with major speakers set to take the stage for high-level talks on the future of the mining industry.

Held at the King Abdulaziz International Conference Center, the three-day event opened on Tuesday with two closed-door ministerial meetings that emphasized on sustainability issues surrounding the sector.

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Representatives from 31 countries met on Tuesday for the talks, where they agreed deeper collaboration on mining across the region was needed to unlock the sector’s full potential.

The meetings discussed the role that metals and minerals could play in the global energy transition, as well as the role each country in the region can play in developing sustainable and responsible mineral value chains.

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The event, hosted by the Saudi Ministry of Industry and Mineral Resources, is aimed at highlighting the role of mining in Saudi Vision 2030, after the government identified it as the third pillar of the Kingdom’s economy.

It consists of panel discussions, workshops, and networking opportunities for key industry players, policy makers, and investors.

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Follow our coverage (all timings in GMT):

07:35 – Session opens on what governments are doing to maximize mining’s contribution to local economies and communities.

07:27 – Public Investment Fund Governor Yasir Al-Rumayyan addresses the forum. He said the mining industry “is becoming an important contributor to the world’s economic, social and environmental goals.”

07:22 – Mark Bristow, president and CEO of Barrick, emphasizes the importance of mining in “everyday life.”

Mark Bristow, president and CEO of Barrick

But the world has lagged in terms of investing in the minerals business, “because of the obsession on the environment and anti-mining, we’ve become almost embarrassed to be miners,” he said.

07:00 – Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef opens the second day of the Future Minerals Forum in Riyadh.

He talked about the challenges of meeting the growing global demand for minerals, which the Saudi minister said is being led by a more sophisticated industry, but more importantly by the global energy transition.

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Alkhorayef highlighted the role of mining in the Saudi Vision 2030, which sets out an ambitious set of objectives aimed at diversifying the economy away from oil.

“The value of the mineral wealth in Saudi Arabia is estimated about $1.3 trillion,” he said.


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