Saudi Arab Endorse Sustainable, Responsible & Inclusive Mining

The Kingdom of Saudi Arabia, under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, convened the inaugural Future Minerals Forum, in Riyadh from January 11 to 13, 2022 to advance dialogue on future minerals, investment in mining, and collaboration across the region from Africa to Central Asia. The event began with a Ministerial Roundtable, attended by 15 Ministers and 25 representatives from across the region and beyond. Discussions focused on three key themes. Ministers, representatives of multilateral organisations and agencies, mining leaders and non-governmental organisations from 31 countries spoke of the important contribution that mining can and does make to their societies, and how they are working to ensure that they maximize the benefits of their mining sectors and supply chains in support of their societies’ sustainable long-term economic prosperity and resilience.Contributions also centered on the critical role that metals and minerals will play in the just transition to a low-carbon energy future, and the role each country in the region can play in developing sustainable and responsible mineral value chains. Finally, Ministers discussed opportunities for deeper collaboration across the region. The discussions were framed by expert presentations from representatives from the private sector and international organizations.Participants of the Ministerial Roundtable emphasized the importance of collaboration and coordination between governments and their partners from the private sector and civil society. Working together for progress in the sector is a foundation for sustainable, responsible, and inclusive mining developments that deliver shared benefits, extending past the mining site and beyond the lifecycle of the mine, to local communities, societies, national and regional governments, and beyond.Participants agreed the global mining sector finds itself at a moment of both great challenge and opportunity. As the world economy emerges from the COVID-19 pandemic, mining countries and companies continue to navigate the public health risks associated with the virus, and the economic turmoil that has resulted from the crisis. At the same time, supply chains are recovering, and consumer demand is growing. Compounding the challenge is the significant growth in demand for minerals and metals required to meet the goal of limiting global warming, a goal first established in the Paris Agreement in 2015 and reiterated at COP26 in Glasgow.

Saudi Arab Endorse Sustainable, Responsible & Inclusive Mining

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