Saudi, South Africa to establish global mining system — Al-Mudaifer
Saudi Arabia and South Africa have concluded a plan to establish a global mining system that will improve the equality of lives in both countries.
This was disclosed by Saudi’s Vice Minister of Industry and Mineral Resources for Mining Affairs Eng. Khalid Saleh Al-Mudaifer.
Al-Mudaifer disclosed this while giving a speech during the Saudi-South African Investment Forum, held in Jeddah, and reviewed top investment opportunities in various sectors in Saudi Arabia and South Africa.
During his speech, Al-Mudaifer stressed that Saudi Arabia and South Africa ways to find solutions to develop the mining sector in the two countries by focusing on increasing the quality of life via development projects and producing minerals and metals necessary to face climate change.
He also emphasized the importance of establishing refining centres and processing green minerals and providing cheap and credible supplies for the renewable energy with the use of hydrogen.
He noted “Saudi Arabia will utilize its capitals and strategic geographical location in realizing these targets, in addition to increasing awareness on challenges and opportunities that are represented by this new era of minerals through opening serious and qualitative channels with investors and stakeholders.”
He added that Saudi Arabia seeks to establish a mining system at a global level in cooperation with South Africa that is considered a suitable destination for partnership to realize these targets, especially that Saudi Arabia today has become a main consumer for steel, aluminum, copper and other minerals to realize targets of manufacturing and huge infrastructure projects, whose total value exceeds $1 trillion.
He pointed out that Saudi Arabia has set practical goals to develop projects of the “green iron” and green mineral projects that integrate with hydrogen stations that Saudi Arabia is constructing with companies like Saudi ACWA Power Company, which is among the leading international companies and most concerned about the environment.
In 2021, Saudi Arabia’s exports to South Africa amounted to more than SR12 billion in oil exports and SR3 billion in non-oil exports.
Saudi non-oil imports from South Africa amounted to SR3.14 billion, where Saudi exports to South Africa were focused on several sectors, including: petrochemical, construction materials, packaging and textiles, while a number of promising export opportunities between the two countries are expected to be considered.
