Lahore, April 14: In a pivotal meeting held in Riyadh, Saudi Arabia’s Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef and U.S. Secretary of Energy Chris Wright discussed avenues to deepen bilateral cooperation in the mining sector.
The discussions centered on boosting investment and enhancing economic collaboration. In addition, they also deliberated on securing critical mineral supply chains essential for the global shift towards clean energy.
Focus on Critical Minerals and Clean Energy
The talks underscored the importance of minerals in the production of electric vehicles and other clean energy technologies.
Both nations acknowledged the strategic role of mining in facilitating the energy transition. They also agreed to identify key investment opportunities to unlock the sector’s potential.
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Future Minerals Forum Invitation
Minister Alkhorayef extended an invitation to Secretary Wright to attend the 2026 Future Minerals Forum in Riyadh, aiming to further solidify the partnership. He also wished the two countries to explore new prospects in the mining industry. In a social media post, he said:
“I met with US Secretary of Energy Chris Wright at the Ministry’s headquarters in Riyadh, where we focused on enhancing strategic cooperation in the mining sector. We also discussed future partnership prospects and reviewed the long-standing industrial relations between our two countries.”
Saudi Arabia’s Mining Ambitions
Saudi Arabia is positioning mining as a cornerstone of its industrial economy, with mineral wealth estimated at SR9.4 trillion ($2.4 trillion).
The Kingdom has set an ambitious target to attract $100 billion in annual foreign direct investment in the mining sector by the end of the decade.
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In line with this goal, a new incentive package was announced in March to boost foreign investment in mining, reflecting the country’s broader strategy to diversify its economy and capitalize on untapped mineral reserves.
