Riyadh: Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef announced that countries around the world need to invest $6 trillion over the next ten years to meet the increasing demand in the mining and mineral resources sector. Alkhorayef made this statement during the fourth annual international meeting of mining ministers held in Riyadh.

According to Anadolu Agency, the Saudi minister highlighted the growing need for minerals driven by the demand for renewable energy resources and advancements in Artificial Intelligence (AI). He emphasized the importance of international cooperation to effectively address the surging demand for these critical resources.

The meeting, which took place from January 14 to 16, was attended by representatives from over 85 countries, including 16 G20 nations. The gathering also included more than 50 official and non-governmental international organizations, trade unions, and prominent figures in the global mining industry. This event underscored Saudi Arabia's ambition to solidify its position as a leading global hub in the mining sector.

Last week, the Saudi Industry and Mineral Resources Ministry valued the kingdom's mineral wealth at over $1.3 trillion. This wealth encompasses significant deposits of copper, zinc, phosphates, uranium, and gold, reflecting Saudi Arabia's potential to play a pivotal role in the global mining landscape.