Sydney: Saudi Arabia aims to establish mutually beneficial partnerships with Australian and other major mining sector stakeholders to access the country’s $1.3 trillion-worth high-demand minerals, said Engineer Khaled Al Mudaifer, the Vice-Minister for Mining Affairs.
"A key objective of Saudi Arabia’s Vision 2030 is the diversification of the kingdom’s economy, spreading sustainable development to all regions and creating quality job opportunities for the Saudi youth," said Mudaifer at Australia’s leading mining industry event, the International Mining and Resources Conference (IMARC), being held in Sydney, Australia.
“Developing the Kingdom’s mining sector and the related industries and services, opening them for national and foreign investments, is a pivotal part of realizing KSA’s Vision 2030," he added.
Participating under the brand ‘Invest Saudi’, the Saudi delegation is led by Bandar Alkhorayef, Minister of Industry and Mineral Resources, and includes other senior officials from the Ministry of Investment, National Industrial Development and Logistics Program (NIDLP), Saudi Industrial Development Fund (SIDF) and the Saudi Geological Survey (SGS).
Mudaifer pointed out that Saudi Arabia had become a world-class destination for mining investments owing to four key elements - Collection and publication of geological data; Favorable Investment System; Environmental, Social, and Corporate Governance (ESG) and Integrated Value Chains.
"We are building a mining system for the long term. A system that protects workers and the environment and provides meaningful development to local communities while maintaining economic and business feasibility for both the kingdom and the investors," said Mudaifer.
