Saudi Arabia Reaffirms Commitment to Responsible Mineral Sourcing at Paris Peace Forum
The Ministry of Industry and Mineral Resources reaffirmed the Kingdom’s commitment to responsible mineral sourcing and sustainable resource governance at the 8th Paris Peace Forum, held at the Palais de Chaillot under the theme “New Coalitions for Peace, People, and the Planet.”
Deputy Minister of Industry and Mineral Resources for Mining Development Eng. Turki Al-Babtain represented the ministry in a high-level panel session titled “Security vs. Sustainability: The Hidden Costs of a Geopolitical Race for Minerals.” The panel featured President of the National Assembly of Serbia Ana Brnabić and former European Union Commissioner for Energy Kadri Simson.
According to a press release issued by the ministry today, Al-Babtain emphasized that advancement in the mineral sector requires collaboration rather than competition.
“The world’s energy transition depends on a coordinated global effort,” he said. “The world today faces not only a shortage of minerals but also a shortage of coordination. To avoid fragmentation and ensure stability, we must build a new compact of collaboration — one that links transparency, finance, and technology under shared responsibility.”
He noted that Saudi Arabia’s mining transformation under Vision 2030 seeks to balance economic diversification with environmental and social responsibility. The Kingdom is unlocking an estimated $2.5 trillion in mineral resources through the Regional Geological Survey Program, one of the region’s most extensive geochemical and geophysical mapping efforts of the Arabian Shield, covering 600,000 square kilometers. To date, more than 33,000 square kilometers have been tendered for exploration, with an estimated 50,000 square kilometers of mineralized investment opportunity expected by 2025.
Al-Babtain stated that the transformation is guided by a reformed Mining Investment Law that enforces strict ESG standards, mandates community engagement, and requires comprehensive environmental rehabilitation by investors. These measures, along with other competitive incentives, have attracted leading global mining companies, including Ivanhoe Electric, Vedanta, Hancock Prospecting, Zijin Mining, Discovery Group, and Kuya Silver, into the Kingdom’s mining sector.
The release added that the sector has witnessed significant growth in exploration spending, which increased from $133.5 million in 2023 to $280.5 million in 2024. The number of active mining companies also rose from six in 2020 to 226 in 2024.
Al-Babtain also referenced the Future Minerals Forum (FMF), hosted annually in Riyadh, as one of Saudi Arabia’s key platforms for advancing global cooperation in the minerals sector. The forum convenes over ninety senior government officials from Africa, Asia, Europe, and the Americas to promote responsible mineral development, strengthen supply chains, and foster dialogue on policy and sustainability.
He noted that FMF and its government-led Ministerial Roundtable have advanced three flagship initiatives: establishing a network of Centers of Excellence across Africa and Asia to drive capacity-building, developing harmonized regulatory frameworks, and enhancing sustainable investment in critical minerals.
