Future Minerals Forum 2025: Deals Worth SAR 107 Billion Signed

The fourth Future Minerals Forum, held in Riyadh, concluded with remarkable achievements, including the signing of 126 agreements and memorandums of understanding (MoUs) valued at SAR 107 billion. These agreements aim to boost the mining sector by focusing on exploration, financing, innovation, sustainability, and the development of advanced supply chains.

Key Agreements Announced

• Flat Steel Production in Ras Al-Khair:
  The Royal Commission for Jubail and Yanbu (RCJY) partnered with steelmaker Tosyali Holding to establish an integrated flat steel production plant. This project will strengthen the Kingdom’s steel industry and enhance export potential.
• Crude Iron Billets Production:
  RCJY also collaborated with Brazilian mining giant Vale to produce crude iron billets in Ras Al-Khair, ensuring a steady supply of raw materials for local and global industries.
• Copper Smelter and Refinery:
  An MoU was signed with Vedanta Limited to build a copper smelter and refinery with an annual capacity of 400,000 tons. The project also includes a copper rod plant with a capacity of 300,000 tons annually.
• Deep-Sea Mineral Exploration:
  Mekyal Financial Company and Maritime Resources Corp. agreed to establish a fund to support deep-sea mineral exploration and exploitation.
• Advanced Materials Development:
  Tasnee joined hands with Shanghai Donghexin New Material Group to advance materials industries and improve production efficiency.

Strategic Projects and Announcements

The forum highlighted four key projects, including a joint venture between Aramco and Maaden to explore critical minerals essential for the energy transition. The project will leverage Aramco’s expertise in geological data and Maaden’s strengths in exploration.

Maaden also announced new discoveries, including expansions of the Mansourah-Massarah gold mine.

In the steel sector, Saudi Iron and Steel Company (Hadeed) acquired Al Rajhi Steel Industries Company with a SAR 25 billion investment plan to support mega infrastructure projects.

Additionally, China Baowu Steel Group unveiled plans for its first integrated steel plant outside China, in partnership with Aramco and the Public Investment Fund (PIF).

Record-Breaking Participation

The forum witnessed record-breaking attendance with over 18,000 participants from 170 countries. More than 405 speakers addressed industry advancements, future challenges, and opportunities in over 70 sessions.

The event underscored the importance of international collaboration to ensure the mining sector’s sustainability and its role in driving global economic and social development.

Driving Economic Growth

The Future Minerals Forum 2025 solidified Saudi Arabia’s position as a global leader in the mining industry. Through strategic partnerships and investments, the Kingdom is paving the way for a sustainable and innovative future in minerals and metals.