126 Agreements Signed at Future Minerals Forum Worth SAR107 Billion

Photo : SPA

The fourth Future Minerals Forum happened in Riyadh, where 126 deals were signed. These deals are worth SAR107 billion. The goal of these agreements is to improve mining, research, finance, and how minerals are used, while also keeping the environment safe.

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The event was joined by key leaders, such as Prince Abdulaziz bin Salman, the Energy Minister; Bandar Alkhorayef, the Minister of Industry and Mineral Resources; and Eng. Khalid Al-Falih, the Investment Minister. Many other leaders from the government and businesses also attended.

One of the deals was between the Royal Commission for Jubail and Yanbu (RCJY) and Tosyali Holding. They will work together to build a steel production plant in Ras Al-Khair Industrial City. This plant will help Saudi Arabia make more steel and export it. Another deal with Vale, a Brazilian company, will help produce iron billets in Ras Al-Khair. This will support industries in Saudi Arabia and around the world.

RCJY also signed a deal with Vedanta Limited to build a copper plant in Ras Al-Khair. This will produce 400,000 tons of copper every year and also build a copper rod plant with 300,000 tons of production each year.

Mekyal Financial Company and Maritime Resources Corp. made an agreement to start a fund to explore deep-sea minerals. Tasnee, a big company in Saudi Arabia, also made a deal with Shanghai Donghexin New Material Group Co. to improve materials and industrial technology.

At the forum, a new project was announced between Aramco and Maaden. This project will help find important minerals needed for clean energy. Maaden also shared news of new discoveries, including possible growth at the Mansourah-Massarah mine.

In the steel industry, Hadeed, a big company, said it had bought Al Rajhi Steel Industries. This will help meet the demand for large projects. Baowu Steel Group from China announced plans to build its first steel plant outside China with help from Aramco and the Public Investment Fund (PIF).

The Future Minerals Forum had a big turnout, with over 18,000 people from 170 countries. There were 405 speakers and more than 70 talks. The main goal of the forum was to show the latest in mining, discuss the challenges, and help countries work together to make mining better for everyone.