The Future Minerals Forum’s (FMF's) Ministerial Roundtable, posited to be the largest global gathering of Ministers responsible for minerals, is key to bringing internationally agreed tangible outcomes to life, Saudi Arabia Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said in an opening address on January 14.

As previously reported by Mining Weekly, three key initiatives are being targeted, namely, developing a strategic International Critical Minerals Framework, building a network of centres of excellence and pursuing a series of priorities for responsible supply.

The roundtable kicks off the three-day FMF, which is being held this week in Riyadh, Saudi Arabia.

The fourth iteration of the roundtable hosted over 87 governments and 50 Ministers, as well as stakeholders from organisations, trade unions and civil society groups.

Alkhorayef emphasised that the theme of this year’s FMF, “A Year of Impact”, underscores the need for collaboration and agreement on minerals that underpin the just energy transition, with responsible supply hinging on this as well.

He also pointed out that the roundtable would seek to tackle broader challenges facing the sector, including insufficient investment, the talent gap and volatility in the market.

The roundtable discussions were closed to the media; however, in his closing remarks, Alkhorayef provided brief insight into the deliberations, noting that participants had committed to finding a balance between pursuing minerals necessary for economic growth and the energy transition, against the interests of different nations and societies. 

He also highlighted that there had been a positive approach to solutions, with technology expected to play a key role.

Alkhorayef pointed out that progress had also been made in pursuing the aforementioned initiatives.

It has also been agreed that a Ministerial level steering committee be establishded to oversee initiatives and drive development. A roadmap for investment is also being pursued.  

Alkhorayef acclaimed that the roundtable showcased how collaboration could drive considerable progress; however, he cautioned that there was still much work to be done. 

COLLABORATION COMMITMENTS
The commitment to collaboration was exemplified in the signing of memoranda of understanding (MoUs) after the roundtable, with Saudi Arabia signing MoUs with six countries – Zambia, Djibouti, Jordan, Austria, the UK and France – to collaborate in the field of mineral resources.

These MoUs aim to promote knowledge sharing, capacity building and investment opportunities in the sector.

The MoU with Zambia entails cooperation in mineral resources to accelerate exploration and promote development.

Speaking to Mining Weekly on the sidelines of the event, Zambia Mines and Minerals Development Minister Paul Kabuswe said a working group would be set up to look at the various aspects of this MoU.

He emphasised that Zambia was open for business, and that the country offered a stable and predictable environment, which was critical for mining investment.

Moreover, the country was seeking to triple its current copper production rate to about three-million tonnes, which would require considerable investment, with the country readying itself for this, including its involvement in the Lobito Corridor project, Kabuswe highlighted

Meanwhile, the MoU with Djibouti entails cooperation to drive sustainable resource development; the MoU with Jordan a commitment to joint efforts in geological exploration and resource use; the MoU with Austria a partnership to enhance mining technology and resource management; the MoU with the UK fostering innovation and investment in the mineral sector; and the MoU with France strengthening ties to support advancements in mining and minerals research.

South African representation at the roundtable included delegates from the Department of Mineral Resources and Energy and the Minerals Council South Africa.  

*Tasneem Bulbulia is attending the forum as a guest of the FMF.