A major mining event will be held in Riyadh, Saudi Arabia, later this month, to discuss the kingdom's role as a leading commodities supplier in the region, and a major player in the mining and minerals sector globally.

The Saudi Mining and Minerals 2015 Conference and Exhibition will run from October 27 to 29, at the Prince Sultan Grand Hall, Al Faisaliah Exhibition and Convention Centre.

Leading local and international experts agree that the kingdom has what it takes to be a mining and minerals superpower with its massive natural resources, combined with a number of state initiatives focused on giving the sector a major boost, said a statement.

The conference is being organised for the first time, and will be held under the patronage of Ali bin Ibrahim Al-Naimi, Minister of Petroleum and Mineral Resources, to help shed light on how Saudi Arabia can achieve its global mining and minerals aspirations, it said.

“Saudi Arabia holds rich mineral resources such as tantalum, niobium, rare earth elements (REE), quartz, and iron ore among others that provide manufacturing opportunities to develop high value products for the growing demand of several advanced industries such as automotive, aerospace, solar, as well as oil and gas. Investors in these opportunities will benefit from the kingdom competitive advantage in energy and the provided financial incentives,” said Khalid Al-Salem, president, National Industrial Cluster Development Programme (NICDP), a government entity set up to grow and diversify the kingdom’s economy by developing targeted industrial clusters and leveraging its rich natural resources.

“Saudi Arabia should continue to uncover its abundant natural resources through more exploration, pro-actively market new opportunities, develop the mining services sector, and integrate with downstream industries to strengthen competitiveness and maximise value addition,” he added.   

Paul Robinson, director at CRU Group, global leaders in mining and metals analysis, said: “Phosphate is one commodity where the kingdom is well positioned to become a leading regional supplier.”

“Saudi Arabia has ample phosphate reserves and its production cost is amongst the lowest in the world.  With India and Asia on its doorstep, Saudi Arabia can easily supply the major consumers of the world. Ma’aden has also been very astute, inviting partners with expertise to the Wa’ad Al Shammal project,” he said.

“The partnership with Mosaic and Saudi Arabia Basic Industries Corporation (Sabic) brings the country extensive technical and operating experience. Looking forward, despite subdued market price prospects, Ma’aden should continue to operate with best-in-class operating margins, for the sector,” he added.

According to Robinson, the kingdom also has the potential to build commodity clusters in a number of base metals and other commodities to meet the growing domestic needs, as well as those within the Gulf region.

He will share further insights on key developments in the global commodity market and the mining industry at the symposium, it added. – TradeArabia News Service