The global mining industry should urgently design solutions to net-zero challenges to shape the future of mining and minerals, Bandar Ibrahim Al-Khorayef, Saudi Minister of Industry and Mineral Resources, has urged. 

 

"Together, we can chart a course toward a green and equitable future," he said opening the second Ministerial Roundtable hosted by Saudi Arabia’s Ministry of Industry and Mineral Resources, the largest-ever meeting of its kind, according to a Saudi Press Agency report.

 

He highlighted that the meeting reflected the vital role mining plays in shaping our transition to a sustainable future and equitable economic development. 

 

More than 60 government ministers and delegations responsible for their countries’ minerals and metals strategies attended the roundtable.

 

Held under the auspices of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, the roundtable is  followed by the Future Minerals Forum (FMF) 2023, which is held today (January 11) and  tomorrow.

 

Twenty-one international organisations participated in the roundtable meeting, including the World Bank, the United Nations, the UN Industrial Development Organization, and the International Union for Conservation of Nature and Natural Resources, a 400-member NGO dedicated to nature conservation and sustainable use of natural resources.

 

While the focus was on the super-region that stretches from Africa to Central Asia, he said: “I think it’s safe to say that mining interests all over the world are following what we discuss.”

 

Al-Khorayef added: "When we convened the first Ministerial Roundtable a year ago, we intended to increase awareness of the potential for mineral-driven economic development across our region. We wanted to place this vast mineral heartland on the world’s net-zero transition stage. In our second event, interest has only increased. This shows our joint commitment to the net-zero transition and a resource-efficient, resilient and responsible future. It also demonstrates the challenge this change poses to our generation.”

 

"We have already witnessed transformational changes. Net-zero is no longer talked about by only a few; it’s a mainstream issue affecting all of us in this room and future generations even more. It is clear to me that the mining community is ready to step-up. Collectively, we are taking on a leadership role. We should come out of this meeting and build on this leadership with an even greater sense of urgency: by designing solutions, creating access to data and technology, and attracting investment. Together, we have a stronger voice when decisions about our future are made... Together, we can shape the future of mining and minerals... Together, we can chart a course toward a green and equitable future."

 

Roundtable participants discussed the overall challenges facing the mining sector in the world. They stressed that one of the most prominent is the significant growth in demand for minerals needed to achieve net-zero, a goal that was approved in the Paris Agreement of 2015, and confirmed at COP27, which was held recently in Sharm El-Sheikh, Egypt.

 

In this context, the participants praised the Middle East Green Initiative and the convening of its second edition chaired by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister, and the pioneering initiatives adopted by the Kingdom to address climate challenges. Attendees praised the Kingdom's Vision 2030, which identified the mining sector as one of the foundations of the Kingdom's economy and a third pillar of national industrial growth. They also praised the roles played by HRH the Crown Prince to advance the mining sector.

 

The meeting focused on four themes. The first is the ability of the region to meet the rapidly growing global demand for critical minerals and to develop the region’s economies. The second is building community confidence by carrying out mining responsibly and applying high environmental, social and governance standards. The third theme discusses opportunities for participation and cooperation in developing the critical and strategic minerals strategy, and what the world expects from the region in this regard. The final theme was the creation of "centers of excellence" to help the region realise its development potential, with a focus on developing the workforce, innovation, and making capital more accessible.

 

The delegates agreed that minerals are essential to building a cleaner economy through new and emerging technologies, including electric cars, storage batteries, and renewable energy. They also agreed that the demand for these vital minerals is accelerating, and that growing demand provides an unprecedented opportunity to reconfigure how the minerals and metals value chain is managed so that members of communities are the focus.

 

The delegates stressed the importance of cooperation and coordination between governments and their partners, from the private sector and civil society, given that this cooperation will form the basis for sustainable and comprehensive development that the minerals/metals sector can lead, which will deliver multiple benefits. They agreed to continue discussing current and future challenges related to sector sustainability. They also agreed on a collaborative approach that brings together all relevant parties, who seek to establish common ground for developing supply chains for the mineral/metal sector that are flexible and capable of rapid recovery, and they stressed that now is the right time for the region to conduct this dialogue.

 

Finally, the participants agreed to continue cooperation and coordination among their countries and praised the role of the meeting and its importance to developing the mineral and metal industries.