Vice Minister of Industry: Minerals are Indispensable to the Energy Change to Renewables

Thursday 1444/5/7 - 2022/12/01
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London, December 01, 2022, SPA -- Vice Minister Ministry of Industry and Mineral Resources for Mining Affairs Khalid Al-Mudaifer affirmed that minerals are indispensable to the energy change to renewables, asserting that decarbonization – the net-zero transition – cannot happen without minerals and metals: a lot of minerals and metals.
During his participation at "Mines and Money Conference" in London, Al-Mudaifer added that "we need to scale up discoveries and we need to scale up production. The World Bank says that by 2050 the production of minerals such as graphite, lithium, cobalt and copper needs to increase by nearly 500% to meet the future demand for clean energy technologies. To achieve a 'below 2°C increase' future, the Bank estimated that more than 3 billion tons of minerals and metals are required."
He highlighted the advances which Saudi Arabia has already made in its mining industry, stressing that the significant potential for KSA largely lies in precious and base metals—including gold, zinc, copper, and silver in addition to a few specialty metals such as niobium and tantalum.
"In terms of phosphate fertilizer production alone, the Kingdom has already become the world leader," he said, pointing to the important projects such as the Kingdom’s work in hydrogen, with KSA creating the largest green hydrogen plant in the world.
"Eight months ago, the Kingdom announced a $5 billion project that – from a standing start – is expected to produce up to 250,000 tons, starting in 2026," Al-Mudaifer asserted, renewing invitations for delegates to attend the powerhouse second edition of the Future Minerals Forum, championing the future of mining, attracting massive investment, and building solid partnerships in Saudi Arabia and throughout the mining super region that stretches from Africa to Western and Central Asia.
--SPA
18:33 LOCAL TIME 15:33 GMT
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