Saudi’s Al-Mudaifer calls for regional ecosystems in mining industry

Khalid Al-Mudaifer, Vice Minister of Industry and Mineral Resources for Mining Affairs, stressed the significance of enhancing regional cooperation among the mining and minerals industries.

He also highlighted the importance of developing integrated regional ecosystems that foster mutual success.

“Investment in regional mining ecosystems will significantly amplify the collective impact,” Al-Mudaifer said at a panel at the fourth edition of the Egypt Mining Forum in Cairo.

East Africa and West Asia regions have a promising potential that could create major economic and developmental opportunities, he said.

"The region stretching from West Asia to East Africa, though among the least explored globally, holds vast economic potential and could drive major developmental transformations, provided, there is a clear vision and integration between mining and industry, as demonstrated by the Kingdom’s relevant experience."

The number of exploration companies operating in the Kingdom grew from six in 2019 to over 132 currently, 60% of which are startups. Additionally, foreign investors and joint ventures account for 70%, which implies the sector’s comprehensive reforms and regulatory enhancements.

Some Egyptian companies are active in the Saudi market, said Al-Mudaifer, calling for the expansion of the cross-border collaboration to strengthen supply chains, empower small and medium-sized enterprises (SMEs), and boost the sector’s contribution to employment and development.

Platforms such as the Egypt Mining Forum and the International Mining Conference are vital tools for unifying the efforts of governments, investors, innovators, and service providers in achieving shared goals, Al-Mudaifer said.