Agreements worth SAR27 billion riyals signed on first day of FMF24

RIYADH, Saudi Arabia, Jan. 11, 2024 /PRNewswire/ -- The first day of the third edition of Future Minerals Forum (FMF) saw the signing of 20 agreements and memorandums of understanding worth a total of SAR27 billion riyals between government agencies, companies and other organizations participating in the Forum.

During the FMF Signing Ceremony

These included agreements connected with mining exploration, technology and communications, as well as the application of sustainability standards, localization, qualification and industrialization in the minerals sector. Also unveiled at the Forum were details of the 33 sites available for exploration this year, and the first mining belt to be made available for exploration in the region at Jabal Sayid, an area of 4,000 square kilometers.

The signing ceremony was attended by His Excellency the Minister of Industry and Mineral Resources, Bandar AlKhorayef, His Excellency the Minister of Investment, Khalid Al-Falih, His Excellency the Minister of Transport and Logistics Services, Saleh Al-Jasser, His Excellency, His Excellency the Vice-Minister of Industry and Mineral Resources for Mining Affairs Khalid Al-Mudaifer, and Eng. Sulaiman Al-Mazrou, CEO of the National Industrial Development and Logistics Services Program.

Among the government agencies and private sector participating in signing these agreements and memorandums of understanding were Saudi Arabia's Ministry of Industry and Mineral Resources, the Ministry of Investment, the Royal Commission for Jubail and Yanbu, the Saudi Geological Survey, the Saudi EXIM Bank, and the Saudi Mining Polytechnic (SMP). Among those signing the agreements were the Saudi Mining Services Company, Moxico Ajlan & Bros Mining, Saudi Aramco, Al-Haytham Mining Company, Manara Minerals, Vale, the Geological Survey of Finland, Maaden, Japan Organization for Metals and Energy Security, SABIC, the Export-Import Bank of the United States, Energy & Water Academy, and the Al Fada Anode Production Company.

The third edition of FMF began this morning (10 January) at the King Abdulaziz International Conference Center (KAICC) with more than 16,000 participants from 145 countries in attendance, as well as 250 speakers. Over the course of two days, the Forum will address some of the most pressing issues for the minerals sector.