Supporting Investments In The Mining Sector

The Ministry of Industry and Mineral Resources and the “Standard Chartard” Bank in the United Kingdom signed a memorandum of understanding note; To contribute to analyzing the requirements of sustainable investments in the mining sector and mining industries in the Kingdom, and for cognitive support for the development of the International Mining Conference, and to meet the requirements of the Kingdom’s 2030 vision goals aimed at supporting economic growth.

The signing of a memorandum of understanding came in the presence of the Deputy Minister of Industry and Mineral Resources for Mining Affairs, Khaled bin Saleh Al -Mudayfar, the International Head of Minerals and Mining at Standard Carted Richard Taylor, President of the Industrial Development Fund, Prince Sultan bin Khalid bin Faisal, and the Undersecretary of the Ministry of Industry and Assistant Mineral Resources for Investment Development Turki Al -Babtain, and the regional head of customer coverage for commercial and institutional banking services at Standard Charterd for the Middle East and Africa, Sarmad Lun.

The memo stipulated, according to a statement by the Ministry of Industry; To encourage the private sector locally and internationally to invest in the mining and minerals sector, by encouraging mining companies and mineral industries to explore the opportunities available in accordance with the regulations in force in the Kingdom, in addition to enabling knowledge and supporting the development of the International Mining Conference, transferring technology and increasing direct foreign investments, creating training and functional opportunities High skills.

The memo focused on enhancing cooperation between the two parties and the initiative to provide the required support and coordination to increase investments in the fields of mining and minerals; Including green mineral production, developing value chains for batteries, and exploring mineral resources.