Davos: Minister of Industry and Mineral Resources Bandar Alkhorayef affirmed that meeting the rapidly growing global demand for critical minerals requires effective integration of government policies, long-term investment, and advanced technologies, along with the development of supply chains and infrastructure to ensure sector sustainability and strengthen its role in supporting global economic transformation.
According to Saudi Press Agency, he made these remarks during a dialogue session on the future of minerals at the Saudi House pavilion on the sidelines of the 2026 World Economic Forum (WEF) in Davos. The session discussed the future of the global mining and minerals sector and the role of governments and the private sector in strengthening integration among regulatory frameworks, investment, and technology to keep pace with growing demand for minerals.
The minister explained that the mining sector is undergoing a qualitative global transformation, with rising mineral demand driven not only by renewable energy but increasingly driven by technological advancement, artificial intelligence, and advanced manufacturing. He emphasized that technology also plays a central role in improving exploration and production efficiency, enhancing safety and sustainability, and reducing costs.
He noted that governments play a pivotal role in this transformation by streamlining licensing procedures, developing regulatory and legislative frameworks, and introducing innovative financing solutions suited to the long-term nature of mining investments. They also support technology ecosystems, develop human capabilities, and provide the infrastructure needed for supply chains to reach global markets.
The minister highlighted Saudi Arabia's experience in building an integrated, investment-attractive mining ecosystem, explaining that the Kingdom has adopted a risk-reduction approach through proactive measures such as implementing geological survey programs, meeting environmental standards, and developing infrastructure. These efforts have accelerated licensing procedures and strengthened the competitiveness of the investment environment.
He added that the Kingdom is working to maximize value from the mining sector by linking it with the industrial sector and investing in midstream and downstream value chains, thereby strengthening its role as a regional hub for mineral processing and contributing to the diversification of global supply chains.
Alkhorayef emphasized that technology is a fundamental pillar for the future of mining and minerals, noting the current focus on expanding the use of big data, remote mining, digital twins, and efficient energy management, while also promoting innovation and recycling, as minerals are resources that can be sustainably reused.
The minister's participation in this session is part of the Kingdom's broader engagement in the 2026 WEF Annual Meeting, reaffirming its active involvement in international discussions on the future of the global economy and enhancing its position as a reliable partner in supporting supply chains and achieving sustainable economic growth worldwide.