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Al-Khorayef: Saudi aims for mineral supply stability
The Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, confirmed that the Kingdom aims to lead global mineral supply stability by strengthening international partnerships and developing the mining sector, which is considered one of the pillars of Saudi Arabia’s Vision 2030. He pointed out that the mineral wealth in Saudi Arabia is currently estimated at around $2.5 trillion, an increase of approximately 90% since 2018, and that the sector makes a significant contribution to non-oil exports, which amounted to 620 billion SAR last year. He also emphasized the importance of international cooperation, especially with regions that hold 33% of global reserves but contribute only 6% to global supplies, underscoring the need to expand partnerships and invest in infrastructure development and value chains.
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