Saudi Arabia aims to help handle world's mineral supply chain shortage: Alkhorayef

Bandar Alkhorayef, Minister of Industry and Mineral Resources

Saudi Arabia's mining strategy aims to make the Kingdom a key partner in solving the shortage of mineral supply chains, said Bandar Alkhorayef, Minister of Industry and Mineral Resources.

This shortage is due to the strong demand for the minerals used in the electric vehicle industry, renewable energy, modern technologies, and the development of global societies, Alkhorayef told the investors’ roundtable meeting organized by the Foreign Economic Relations Board of Turkey (DEİK).

The Kingdom's Mining Investment Law and its Executive Regulations are among the best in the world, the minister said, adding that the Kingdom has recently shifted its focus to this sector to diversify its economic base, reduce dependence on oil, and achieve the Vision 2030 goals.