Future Minerals Forum sheds light on inclusive approach for responsible mineral supply chain

RIYADH: The final day of the Future Minerals Forum is underway in the Saudi capital, with discussions planned around artificial intelligence, developing responsible supply chains, and investing in capacity building.

The two-day event, which was preceeded by a ministerial roundtable meeting, has already seen the Kingdom sign memorandums of understanding with four countries – Egypt, Morocco, Democratic Republic of the Congo, and Russia – to boost cooperation in the mining sector. 

There was also an annoucement by the Minister of Industry and Mineral Resources Bandar Alkhorayef that the value of the Kingdom’s untapped mineral potential has increased from $1.3 trillion to $2.5 trillion.

He said: “This is based on new discoveries in the form of rare earth elements and the combination of the increase of volumes in phosphate, gold, zinc and copper as well as the revaluation of these minerals.” 

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12:44 p.m.

 

 

10.54 a.m. Kingdom starting with blank sheet when it comes to mining practices

The “human part” of the mining process must be remembered in order to create “a really sustainable and resilient supply chain,” Khalil Ibrahim Ibn Salamah, vice minister for industry, told the event.

He added that because the Kingdom has “no legacy” in the sector, that gives a “really good starting point” for finding the best practices.

10.28 a.m. – Workforce training key to delivering sustainability

Saleh M. Saleh, vice president of Characterization and Field Development Geosciences at Saudi Aramco also spoke about the importance of workforce training in the sector (see below for previous comments on this).

He said the energy giant has invested a lot in ensuring it has a skillful, competent workforce.

10:21 a.m. – Sustainability is a buzzword that needs clarification.

Princess Mashael Al-Shalan, co-founder of AEON Collective, expressed concern that sustainability is a buzzword that is heard day in and day out, but “sustain what?” is the key question. 

“Sustain the status quo? I fear not because it’s really messy especially within the mining sector,” she said, adding that what needs to be tackled is what are the source of skill sets that are needed to be integrated or embedded to a center of excellence to actually deliver change.

9:57 a.m – More and better trained professionals needed in the sector.

Speaking during a panel discussion, Kimmo Tiilikainen, director general of the Geological Survey of Finland, said if the mineral sector needs expansion, it means that there needs to be more professionals; so, there needs to be an increase in geosciences education around the region.