The fourth Ministerial Roundtable kicked off today in Riyadh, Saudi Arabia, as part of the three-day Future Minerals Forum, with His Excellency Bandar bin Ibrahim Alkhorayef, Saudi Arabia’s Minister of Industry and Mineral Resources, telling participants there was a pressing need for global unity to address the challenges and make the most of the opportunities related to the evolving global minerals supply chain.

Over 87 governments, including 16 G20 nations, were represented at the event. Some 50 ministers, 13 vice ministers, as well as representatives from the private sector, international organisations and NGOs, were in attendance.

“This broad range of participation reinforces our shared commitment to collaboration,” Alkhorayef said during his opening address.

Minerals are at the core of supply chains and critical to meeting the surging demand driven by the energy transition, he added. “Resilient, responsible supply chains depend on our ability to work together – governments, industries and communities alike.”

The minister labelled the rountable a “unique platform” where policymakers came together to tackle global challenges and drive transformative change.

Reflecting on the vast progress made over the four gatherings held since the inaugural FMF in 2022, he said countries that were not part of “our journey” three years ago were now contributing to the shared mission of all those involved, inspired by the tangible progress made and the benefits that responsible mining can bring.

The roundtable heard updates on the progress made by coordination groups on three initiatives agreed last year, focusing on initiatives that exemplify this spirit of collaboration:

• Developing an international critical minerals framework for resilient supply chains;
• Establishing a network of centres of excellence to build capacity in the Super Region; and
• Advancing responsible supply priorities through certification and transparency.

The participants are also addressing broader sector challenges, including $6 trillion worth of investment required over the next decade to meet demand; volatility in commodity markets; the importance of stakeholder engagement; and the talent gap caused by an ageing workforce.

Saudi Arabia, in the short time since introducing the forum, has made a significant impact on the mineral policies of the Super Region. It has also fostered significant growth in its own mineral prospects, carrying out significant regional exploration surveys, conducting exploration concession auctions and signing major MoUs with private and public companies to grow its mining prospects.

Alkhorayef concluded his opening address by saying: “The theme of this year’s Forum, ‘The Year of Impact,’ reminds us that our efforts must translate into tangible outcomes. The progress shared today is a foundation for the actions we must now take to tackle these challenges.”