"Al Falih" highlights the strategic plan for the development of the mining sector in Saudi Arabia

Minister of Energy, Industry and Mineral Resources, Eng. Khalid bin Abdulaziz Al-Falih, President of the 14th Arab International Conference on Mineral Resources, participated in the fifteenth session of the Conference held in Cairo from 18 to 20 Rabi & # 39; Al Awal 1440H. The President of the Arab Republic of Egypt, Abdel Fattah al-Sisi, attended the regular consultative meeting of Arab ministers involved with the mineral wealth sector, which takes place on the sidelines of the conference.

Speaking at the opening of the conference, Eng. Al-Faleh said: "The ties that unite the Arab countries are strong and common, and the common historical and cultural depth is one of the strongest and strongest links among all Arab countries, Saudi Arabia and the Arab Republic of Egypt in particular. Political views combine the two sisters with unique economic, security and geographical ties.

He pointed out the geological ties between the two countries, noting that the Arab shield area in the Kingdom and the Nubian Shield area in Egypt are two extensions of a geological area, which offers valuable opportunities for cooperation between the two countries in this strategic sector.

The Minister of Energy, Industry and Mineral Resources said that the conference is considered to be the most important Arab meeting aimed at developing the mining sector and supporting investment in mining in the Arab world, abundant mineral wealth in the Arab world, with its geographic position as important strategic dimension. Manufacturing industries whose products are integrated into all requirements and necessities of life.

Al-Falih called for increased efforts to develop and co-operate with the mining sector by creating an investment environment conducive to its growth and enhancing Arab economic integration in that sector in order to achieve the growth and prosperity of citizens and the Arab world .

He expressed the hope that the conference will provide a good opportunity to improve all elements of Arab cooperation in research and advanced technology, and to present the latest equipment and equipment used in all stages of mining activities, in addition to importance of the development of Arab human resources. And the means to upgrade the mining industry and the Arab mining industries.

He stressed that the 15th Conference is particularly important as it hosts the 7th regular consultation meeting of Arab ministers concerned with the mineral wealth sector, noting that the Kingdom's mining sector is receiving attention and attention from its leaders and government, development and development sectors in the vision of the 2030 Kingdom. It seeks to develop the mining sector through the implementation of a comprehensive, targeted and policy strategy, including 42 initiatives aimed at restructuring the sector and increasing its contribution to the gross domestic product of US $ 17 billion to $ 64 billion, A job opportunity by 2030, work to increase the added value of minerals, development of less developed regions and access to the mining sector to become the third pillar of the Saudi economy with oil and petrochemicals .

He said: "The Kingdom has the ingredients to achieve these goals, God loved its territory of unique geological diversity and abundance of mineral resources rich in raw materials, studies indicate that the value of potential geological inventory in the Kingdom exceeds trillions and $ 300 million, the area of ​​the Arabian Shield, of 630 thousand square kilometers. "

He added, "The Kingdom is seeking through the strategic mining plan to invest its mineral wealth and develop the value chains associated with it to become an essential element in the mapping of global mining and mining industries," noting that the Guardian of Two Sacred Mosques, Salman bin Abdulaziz Al Saud – Launched the promises of the industrial north, which will make the Kingdom the second largest in the world in the production of phosphate fertilizers, explaining that the Kingdom seeks, through mining projects, to be among the ten first in the production of aluminum and double the production of gold and basic metals to 10 P current production, while providing incentives and build the safe investment environment to attract investors to the mining industry in the Kingdom.
Minister of Energy, Industry and Mineral Resources Khalid Al-Faleh presented the presidency of the Conference to the Minister of Petroleum and Mineral Resources of Egypt, Eng. Tariq Al-Mulla, noting that the transfer of the presidency of this conference from the Kingdom to Egypt is only one continuation and completion of the paper and efforts made during the last session. The Kingdom stands ready to provide its full support to Egypt to achieve the goals and achieve the conference's aspirations.

The conference, which will be held under the title "Investment in Mining and Economic Development in the Arab World", will last three days and will aim to present the prospects of the Arab mining sector and promote investment opportunities in mining in the Arab countries and countries. A technical briefing will be held on the sidelines of the conference, which is an opportunity for a direct meeting between investors, specialists and specialists working in the Arab mineral wealth sector.