ESG

Saudi Arabia to host 'one-stop-shop' mining investment summit

Aiming to define new mining hub

Staff reporter
 Riyadh in Saudi Arabia. Image: Unsplash.com/ekrem osmanoglu

Riyadh in Saudi Arabia. Image: Unsplash.com/ekrem osmanoglu

It's being described as the first-ever event to offer a "one-stop-shop" for investors, miners and other industry stakeholders, interested in learning more about the mining potential of the Middle East, Central Asia and North and East Africa.

"We are putting mining and investment at the heart of the new Saudi economy," minister of industry and mineral resources Bandar Al-Khorayef said.

"With an estimated $1.3 trillion mineral endowment, we are looking for investors and partners to work with us to continue to transform the Saudi mining industry in the years ahead."

He said what set the summit apart and made it compelling was "the three dynamic regions that co-own the event and are open for business".

Barrick Gold recently entered Egypt, being awarded four exploration licences in July, with president and CEO Mark Bristow saying the opportunity in Egypt was "an exciting addition" to the Canada-based miner's portfolio. 

The ministry said the summit would be held under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud.

The ministry was established in 2019 as part of the country's drive to open up mining, amid ongoing developments which have been welcomed by long-term Saudi explorer, London-listed KEFI Gold and Copper.

KEFI has made two discoveries through its Saudi joint venture and is finalising funding for its Tulu Kapi gold project in Ethiopia. 

The summit programme is being built around four pillars, namely defining a new mining hub, lands of opportunity, reimagining mining and mining's contribution to society.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.