Saudi Arabia seeks to grow in sustainable metal manufacture ...| MENAFN.COM

Saturday, 04 February 2023 09:40 GMT

Saudi Arabia seeks to grow in sustainable metal manufacture to top world


(MENAFN) Saudi Arabia is going to become the world top in maintainable metal manufacturing, as the nation discovers its mining potential, as a part of its financial diversification along with the targets highlighted in Vision 2030, as stated by Khalid Al-Mudaifer, vice-minister for Mining Affairs, Ministry of Industry and Mineral Resources.

While giving a speech at the Mines and Money meeting in London, Al-Mudaifer noted that minerals are vital to the energy alteration from hydrocarbons to renewables.

“Decarbonization – the net-zero transition – cannot happen without minerals and metals: a lot of minerals and metals. We need to scale up discoveries and we need to scale up production,” according to Al-Mudaifer.

He continued: “The World Bank says that by 2050 the production of minerals such as graphite, lithium, cobalt and copper needs to increase by nearly 500 percent to meet the future demand for clean energy technologies. To achieve a ‘below 2°C increase’ future, the Bank estimated that more than 3 billion tons of minerals and metals are required.”

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