Saudi minister urges USD6T investment in mining, mineral resources
Date
1/15/2025 8:05:08 AM
(MENAFN)
Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef, stated on Tuesday that global investment of USD6 trillion is required over the next decade to meet the growing demand for mining and mineral resources.
Speaking at the fourth annual international meeting of mining ministers in Riyadh, Alkhorayef highlighted the increasing demand for minerals driven by the global rise in renewable energy and Artificial Intelligence (AI) technologies.
He emphasized the critical need for international cooperation to address this surging demand and ensure a sustainable supply of minerals.
The meeting, which took place from January 14-16, brought together representatives from over 85 countries, including 16 members of the G20, as well as at least 50 international organizations, trade unions, and prominent figures in the global mining industry.
Saudi Arabia aims to solidify its position as a leading global hub in the mining sector. Last week, the Saudi Ministry of Industry and Mineral Resources estimated the kingdom’s mineral wealth at over USD1.3 trillion, citing substantial deposits of copper, zinc, phosphates, uranium, and gold.
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