Arab Press

بالشعب و للشعب
Saturday, Jul 12, 2025

Energy transition to increase 5-fold by 2050: Alkhorayef

Energy transition to increase 5-fold by 2050: Alkhorayef

Minister of Industry and Mineral Resources Bandar Alkhorayef said the World Bank (WB) estimated that the energy transition will increase 5-fold by 2050 through the use of modern technologies.
Alkhorayef made these remarks during a meeting within the activities of the International Mining Conference in Riyadh.

He stated that the US government has focused on the role of the supply chains, technology, automotive industry, defense industries and green technology. “Our region is able to be a bridge extending across these countries in this transformation.”

The mining sector is now playing a leading role, he said, adding that the world is in much need for minerals and metals. He stressed the importance of developing the supply chains which meet the world needs.

Minerals and metals must be developed in order to increase the levels of commitment, and improve the trade balance between the different countries, in addition to the participation in the zero-carbon emissions.

Saudi Arabia has reduced the risks of investment, production and manufacturing operations in the mining sector, Alkhorayef said.

He added that the Kingdom has attracted huge investments exceeding $33 million in 2020, in addition to launching the first auction for this sector with the participation of several countries.

Saudi Arabia has also expanded supply chains in phosphate and gold, and developed an environment suitable for the electric car industry.

Speaking to Al-Ekhbariya, the minister said the mining future in Saudi Arabia is promising, noting that the amount of minerals in the Kingdom was estimated at SR5 trillion.

Alkhorayef noted that the metal detection operations are carried out through the geological survey program on the entire Arabian Shield.

He added that there is another program for accelerated exploration, through which additional quantities and types of minerals can be explored.

The modern technologies related to mining will be available to investors in Saudi Arabia, he said, noting that the sector provides many investment and job opportunities through the services provided to this sector.

The International Mining Conference is considered an important platform in the region to develop the mining sector, and provides an opportunity for investors, companies, financiers and universities to cooperate with each other, which would contribute in accelerating the investments in the mining sector in the region.

Alkhorayef said the participation of 60 countries in the International Mining Conference proves that Saudi Arabia has become the focus of the world’s attention, adding that the world is in much need of mining for industry.

He also stressed the need to provide the minerals in appropriate quantities and prices.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Germany Seeks Taliban Deal to Deport Afghan Migrants
Emirates Airline Expands Market Share with New $20 Million Campaign
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Qatar Airways Clears Backlog of Passengers Following Missile Threats
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
×