SAUDI ARABIA

Showcase held with Australian investors to promote mining investment opportunities

October 30, 2022

RIYADH — Deputy Minister for Mining Development at the Ministry of Industry and Mineral Resources Musad Aldaood opened a showcase in Australia under “Invest Saudi” in collaboration with the Saudi Australian Business Council.

The showcase highlighted and promoted investment opportunities and the capabilities of the Kingdom's robust infrastructure and legislation, making the Kingdom a global destination for investment in the mining sector.

Assistant Deputy for Mining Development Turki Al Babtain as well as representatives from the Ministry of Industry and Mineral Resources, the Ministry of Investment, and the Saudi Geological Survey attended the showcase.

Attendees from Australia included EV Metals CEO, and member of the Board of Directors of the Saudi Australian Business Council Luke Stannard, as well as Australian investors and businesspersons.

Aldaood underscored the Kingdom's plans to expand the mining industry and help investors gain the most from it, noting that the Kingdom is eager to forge significant international partnerships in this field.

Aldaood said the Saudi delegation hopes to entice high-quality investments in the Kingdom's mining industry, indicating that the world has historically relied heavily on minerals and metals for construction, manufacturing, development, and technological advancement.

The Kingdom is now working to create a dynamic and open economy, successfully laying the groundwork for the mining industry to meet the demands of the future.

During the meetings, Aldaood highlighted the numerous opportunities and benefits available in the Saudi mining industry, particularly the clarity of regulations and legislation and its high level of transparency.

He pointed to the mining opportunities announced, most notably the success of a local and international consortium of "Mushiko Resorcis and Ajlan and Brothers Mining Company" who both won the bid for the Khnaiguiyah site exploration license. The site provided investors with a unique experience that ensured risk-free investments.

Aldaood also invited attendees and participants to visit the Kingdom's Pavilion at the International Mining and Resources Conference (IMARC) due to be held in Sydney between Nov. 2-4 to learn more about the Kingdom's mining incentives and investment opportunities.

Through its participation in the conference and the official visit to Australia, the Kingdom hopes to attract investments in the mining sector and achieve the nation's goals of making mining the third pillar of national industry.

Al-Khorayef to head Saudi team

in official visit to Australia

An official Saudi delegation headed by the Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef will pay an official visit to Australia to introduce investment opportunities in the mining sector in the Kingdom of Saudi Arabia, under the umbrella of "Invest in Saudi Arabia".

The Kingdom of Saudi Arabia's delegation includes a number of ministry leaders, led by the Deputy Minister For Mining Affairs, Eng. Khalid Bin Saleh Al-Mudaifer, and representatives of the Ministry of Investment, the National Industrial Development and Logistics Program (NDLP), the Geological Survey Authority, the Saudi Industrial Development Fund, and the Industrial Center.

The visit will include 4 Australian cities: Canberra, Brisbane, Perth and Sydney. It will also include participation in the International Mining and Resources Conference (IMARC) in Sydney from Nov. 2-4, 2022. — SPA


October 30, 2022
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