Promoting mineral exploration over an area of ​​50,000 km2

Minister of Industry and Mineral Resources, Bandar Al-Khorayef, said: This year, we are working to promote promising exploration opportunities, covering 50,000 square kilometers of rich mineral belts.
The Minister added in his speech during the International Mining Conference and Exhibition: The Incentives for Exploration Program, which was launched only last year, has begun to achieve results, as 6 companies received funding, and today we launched the Mining Innovation Studio, which is designed to attract global talent and accelerate the use of advanced technologies.

Riyadh Silicon Valley in mining

He stated that this is one step towards achieving Riyadh’s vision of becoming the Silicon Valley in mining.
He noted that significant progress has been made on responsible sourcing priorities, with a focus on transparency, certifications and cooperation to deliver economic and social value.
The minister said: We are proud that Saudi Arabia is a role model driven by Vision 2030, as the mining sector in the Kingdom has become the fastest growing in the world.
He added that with the mineral potential estimated at $2.5 trillion, our focus on the regulatory framework, innovation and infrastructure development has contributed to making Saudi Arabia a leading destination for investment and exploration in the mining sector.
The International Mining Conference and Exhibition kicked off yesterday in Riyadh, and will continue until tomorrow, Thursday, with the participation of about 170 exhibitors from countries around the world, representing the value chain in the mining and metals sector, in addition to national pavilions for eight countries, including: Australia, Austria, Brazil, Canada, and India. Pakistan, Sweden, and the United Kingdom.
This year, the International Mining Exhibition includes four main areas that reflect the diversity of the mining sector and its innovations, which are the “External Exhibition”, in which companies present the latest machinery and heavy equipment, the “Technical Zone”, which includes the latest technological innovations to develop the mining sector, in addition to the “Exhibition”. “Internal”, which brings together major international companies operating in the minerals sector, and the “Exploration Zone”, in which the role of small exploration companies in leading future mineral discoveries is highlighted.