Saudi Arabia is on its way to becoming a global supplier of hydrogen and a hub for green minerals and highly competitive manufacturing.
Deputy Minister of Industry and Mineral Resources Khalid al-Mudaifer revealed Saudi Arabia is boosting the development of mineral industries in the region by attracting investment, spreading digital and advanced technologies, and applying high standards on sustainability performance.
During a roundtable meeting held on the sidelines of the 9th session of the Saudi-South African Joint Committee in Pretoria, Mudaifer pointed out that Saudi Arabia's experience in the mining sector is relatively new compared to South Africa's long history in extracting minerals and its rich expertise in this field.
The deputy minister stressed that the Kingdom has excellent potential in oil and petrochemicals, which would provide opportunities for exchanging expertise and strengthening cooperation between the two countries.
He emphasized the promising fields of cooperation not only in exploration, technology, and operations but in other areas such as negotiations, administrating relations with major global companies for commerce, trade, and value development in products and businesses related to the production of minerals.
He stated that Saudi Arabia's geographical location is a strategic gateway where the East meets the West, allowing European and Asian industries access.
The Saudi official said South Africa is the gateway to the southern African continent, linking the two Americas and the Indian and Pacific Oceans.
He indicated that the required minerals would be unprecedented over the coming 10, 20, and 30 years due to the transformation of energy and strategic industrial sectors, such as electric and military vehicles and outer space.
The Kingdom seeks to develop mega projects for refining and processing iron, steel, and green minerals in integration with the hydrogen factories established by the Saudi ACWA Power Company, one of the world's largest and most environmentally responsible companies.
