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Saudi Arabia recently secured major international agreements and launched initiatives to boost its mining and minerals sector.
Saudi Arabia recently secured major international agreements and launched initiatives to boost its mining and minerals sector. During the Future Minerals Forum in Riyadh, the country signed Memorandums of Understanding (MOUs) with Egypt, Morocco, Russia, and the Democratic Republic of Congo, focusing on collaboration in mineral exploration, geological research, and resource development. These deals are part of Saudi Arabia's strategy to position itself as a key player in the global mining industry.
Additionally, Saudi Arabia announced a $182 million exploration incentive program to attract investments in new commodities and greenfield projects. This includes offering access to 33 exploration sites in 2024. The country also plans to establish its first bachelor's degree in mining science and engineering to develop local talent, incorporating AI into the curriculum to future-proof the workforce.