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  • 11-01-23

    Minister: Saudi Arabia attracts record amount of investment of USD32B for FMF

    (MENAFN) Saudi Arabia’s success in drawing a record figure of funds of USD32 billion in 2022 is just the beginning point of the possible effect of the Future Minerals Forum occurring in Riyadh, the Minister of Industry and Mineral Resources stated at the event's start.

    Bandar Alkhorayef used his welcomed speech to offer proof of tangible outcomes from 2022’s meeting to convey positivity in the direction of the second FMF.

    The achievements involve de-risking funds in mining exploration, output and processing, increasing value chains in gold, phosphate as well as aluminum, in addition to starting to improve an electric vehicle ecosystem.

    Furthermore, Saudi Arabia “initiated the first auctions for sites on the Arabian Shield, attracting about 20 participants from around the world, bidding on our digital platform,” Alkhorayef stated.

    Adding, “We achieved these results while facing the headwinds the entire world is facing: inflationary pressures, trade tensions, geopolitical polarization, and lingering public health issues.”

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