KSA Sets Standards for Sustainable and ESG-Compliant Mining Industry
As part of its efforts to transform metals and minerals sector into an engine of sustainable growth and driver of the clean energy transition Saudi Arabia participated in Australia’s leading mining industry event, the International Mining and Resources Conference.
Participating under the brand ‘Invest Saudi’, the Saudi delegation is led by Minister of Industry and Mineral Resources Bandar Al Khorayef and included Vice-Minister for Mining Affairs Khaled Al-Mudaifer and other senior officials.
Speaking at IMARC’s opening, hosted in Sydney, Al Khorayef, said: “More than ever, we need strong, focused, and sustained international collaboration to address the collective challenges we face, primarily the urgent need to transition to a net-zero future.”
The minister emphasized that the world needed to rise to this challenge and substantially ramp up investments and innovation in mineral and metal technology to meet the increasing global demand for minerals.
Al Khorayef also added: “In Saudi Arabia, we have all the competitive advantages to become a center of excellence in sustainable mining development and growth.
"As part of a swath of legal and regulatory reforms implemented in recent years to encourage more investment into the sector while ensuring that sustainability is at the core of its mining efforts the Kingdom’s introduced its Mining Sustainability Principle.
"As a result, today, every mining application is assessed for its commitment to environmental, social, and governance (ESG) to ensure that it leverages its rich mineral wealth in a sustainable manner in support of a brighter future for all."
The Kingdom has an ambitious target to attract investments worth $32bn to the mining and minerals sector as it seeks to establish itself as an industrial powerhouse underlined by integrated green value chains, including green steel and electric vehicle (EV) battery production.