Saudi Arabian minister promotes Kingdom’s growing mining sector at MINExpo International 2021 in Las Vegas

On 15th September 2021, the deputy minister from Saudi Arabia’s Ministry of Industry and Mineral Resources achieved to persuade that the Kingdom’s germinating mining sector stands as a cinch for future rewards.

The mining affairs minister, Khalid Al-Mudaifer, attended the MINExpo International 2021 in Las Vegas, where he discussed opportunities for investors, explorers, miners, and other stakeholders.

However, the Kingdom has already enticed major international investors into the mining sector, incorporating US firm Alcoa, which has a 25.10% stake in Ma'aden Bauxite and Alumina Company and the Ma'aden Aluminium Company as part of a $10.8 billion joint venture with Saudi miner Ma'aden, located in Ras al-Khair Industrial City in the eastern province.

Minister Al-Mudaifer said: “Saudi Arabia is very much open for business. We have a demonstrable track record of success with our international partners, offering a best-in-class experience benchmarked against global standards.”

“It is the perfect time to invest in the Kingdom’s mining sector, as the government continues to support the industry through major infrastructure projects.”

Jim Gowans, COO of Canadian mining company Barrick Gold Corporation said: “Our firm has an excellent working relationship with the Saudi government.”

“Saudi is blessed with good infrastructure; it has excellent roads, airports, railway, and port structures. The country is well-positioned for export markets to the east and west,” added Willem Jacobs from Barrick.

The deputy minister of Saudi Arabia was also present at the Las Vegas event to promote the upcoming Future Minerals Summit, to be held in Riyadh in January 2022.