{"id":93492,"date":"2025-01-19T00:00:00","date_gmt":"2025-01-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/19\/future-minerals-forum-wraps-with-sar-107-bn-in-agreements\/"},"modified":"2025-01-19T00:00:00","modified_gmt":"2025-01-19T00:00:00","slug":"future-minerals-forum-wraps-with-sar-107-bn-in-agreements","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/19\/future-minerals-forum-wraps-with-sar-107-bn-in-agreements\/","title":{"rendered":"Future Minerals Forum wraps with SAR 107 bn in agreements"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Future Minerals Forum (FMF) wrapped up on Thursday with over 126 <\/strong><strong>mining agreements worth SAR 107 bn signed<\/strong>, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/en\/N2244341\" style=\"\" rel=\"noopener\">SPA<\/a> reports. The agreements covered exploration, financing, R&D, and sustainability, among others.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MODON\u2019S LOCALIZATION PUSH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Saudi Authority for Industrial Cities and <\/strong><strong>Technology Zones (Modon) signed SAR 2.3 bn-worth of agreements<\/strong> to localize mining industries. The agreements include:<\/p>\n<ul>\n<li><strong>A SAR 1.3 bn <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/saudi-authority-for-industrial-cities-and-technology-zones_%D8%A8%D8%B1%D8%B9%D8%A7%D9%8A%D8%A9-%D9%88%D8%AD%D8%B6%D9%88%D8%B1-%D9%85%D8%B9%D8%A7%D9%84%D9%8A-%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-%D9%88%D8%A7%D9%84%D8%AB%D8%B1%D9%88%D8%A9-%D8%A7%D9%84%D9%85%D8%B9%D8%AF%D9%86%D9%8A%D8%A9-activity-7285646798482771969-AWjK?utm_source=social_share_sheet&utm_medium=member_desktop_web\" style=\"\" rel=\"noopener\">agreement<\/a><\/strong> <strong> with <\/strong><strong><a target=\"_blank\" href=\"https:\/\/tahweelholding.com.sa\/\" style=\"\" rel=\"noopener\">Tahweel Holding<\/a><\/strong> <strong> to build an aluminum foil plant<\/strong> in Dammam\u2019s third industrial city spanning 205k sqm;<\/li>\n<li><strong>A SAR 125 mn <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/saudi-authority-for-industrial-cities-and-technology-zones_%D8%A8%D8%B1%D8%B9%D8%A7%D9%8A%D8%A9-%D9%88%D8%AD%D8%B6%D9%88%D8%B1-%D9%85%D8%B9%D8%A7%D9%84%D9%8A-%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-%D9%88%D8%A7%D9%84%D8%AB%D8%B1%D9%88%D8%A9-%D8%A7%D9%84%D9%85%D8%B9%D8%AF%D9%86%D9%8A%D8%A9-activity-7285656431280738304-8ms6?utm_source=social_share_sheet&utm_medium=member_desktop_web\" style=\"\" rel=\"noopener\">agreement<\/a><\/strong><strong> with <\/strong><strong><a target=\"_blank\" href=\"https:\/\/epc-battery.com\/\" style=\"\" rel=\"noopener\">Energy Projects Company<\/a><\/strong><strong> for a car battery manufacturing plant<\/strong> in Shaqraa Industrial City, spanning 69k sqm;<\/li>\n<li><strong>A SAR 195 mn <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/saudi-authority-for-industrial-cities-and-technology-zones_%D8%A8%D8%B1%D8%B9%D8%A7%D9%8A%D8%A9-%D9%88%D8%AD%D8%B6%D9%88%D8%B1-%D9%85%D8%B9%D8%A7%D9%84%D9%8A-%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-%D9%88%D8%A7%D9%84%D8%AB%D8%B1%D9%88%D8%A9-%D8%A7%D9%84%D9%85%D8%B9%D8%AF%D9%86%D9%8A%D8%A9-activity-7285682262250065923-yvVM?utm_source=social_share_sheet&utm_medium=member_desktop_web\" style=\"\" rel=\"noopener\">agreement<\/a><\/strong><strong> with STA Industry<\/strong> <strong>to establish a sustainable cement manufacturing facility<\/strong> in Al Kharj Industrial City, spanning 120k sqm.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- <\/strong>Modon signed an <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/saudi-authority-for-industrial-cities-and-technology-zones_%D8%A8%D8%B1%D8%B9%D8%A7%D9%8A%D8%A9-%D9%88%D8%AD%D8%B6%D9%88%D8%B1-%D9%85%D8%B9%D8%A7%D9%84%D9%8A-%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-%D9%88%D8%A7%D9%84%D8%AB%D8%B1%D9%88%D8%A9-%D8%A7%D9%84%D9%85%D8%B9%D8%AF%D9%86%D9%8A%D8%A9-activity-7285680983935242241-Ro2y?utm_source=social_share_sheet&utm_medium=member_desktop_web\" style=\"\" rel=\"noopener\">agreement<\/a> with PIF\u2019s mining unit Ma\u2019aden to develop the infrastructure in the residential area of the Wa\u2019ad Al Shamal Industrial City\u2019s second phase, spanning 365k sqm. Further details on the investment ticket and timeline were not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ALSO SIGNED AT THE FMF-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- RCJY inks agreements with Turkish and Brazilian manufacturers: <\/strong>The Royal Commission for Jubail and Yanbu (RCJY) signed an agreement with Turkish steel conglomerate <a target=\"_blank\" href=\"https:\/\/www.tosyaliholding.com.tr\/en\" style=\"\" rel=\"noopener\">Tosyali Holding<\/a> to establish a flat steel production plant in Ras Al Khair, as well as a land reservation <a target=\"_blank\" href=\"https:\/\/vale.com\/w\/vale-and-royal-comission-of-jubail-and-yanbu-sign-land-reservation-agreement-for-multi-million-dollar-mega-hub-at-ras-al-khair\/-\/categories\/1968812\" style=\"\" rel=\"noopener\">agreement<\/a> with Brazil\u2019s sustainable mining company <a target=\"_blank\" href=\"https:\/\/www.vale.com\/\" style=\"\" rel=\"noopener\">Vale<\/a> for a two-phase \u201cmega hub\u201d to manufacture cold-briquetted iron ore, with a full operational capacity of up to 12 mn tonnes annually.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>RCJY also inked an MoU with India\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.vedantalimited.com\/\" style=\"\" rel=\"noopener\">Vedanta<\/a><\/strong><strong> to establish a copper smelter <\/strong><strong>and refinery<\/strong> with an annual capacity of 400k tonnes, along with a copper rod plant that has a yearly capacity of 300k tonnes in Ras Al Khair.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- A USD 1.4 bn fund for deep-sea exploration: <\/strong><a target=\"_blank\" href=\"https:\/\/mekyal.com\/en\/\" style=\"\" rel=\"noopener\">Mekyal Financial Technologies<\/a> and Marine Mining signed <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/business\/investment\/saudi-mekyal-atlantis-blu-mining-gmbh-announce-14bln-fund-at-fmf-2025-nznd389p\" style=\"\" rel=\"noopener\">an MoU<\/a> with Atlantis Blu Mining GmbH to launch a USD 1.4 bn fund, to support deep-sea mineral exploration projects. No further information was disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4-<\/strong> <strong>An innovation ecosystem for the mining industry: <\/strong>The National Industrial Development and Logistics Program <a target=\"_blank\" href=\"https:\/\/x.com\/NIDLP_2030\/status\/1879855621295796558\" style=\"\" rel=\"noopener\">launched<\/a> the Mining Innovation Studio, an accelerator program for mining tech startups aimed at attracting global startups to the Kingdom. The Studio was established in partnership with the Industry and Mineral Resources Ministry, Newlab, the Saudi Geological Survey, King Abdulaziz City for Science and Technology (KACST), Ma\u2019aden and Esnad.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5-<\/strong> <strong>KACST also <\/strong><strong><a target=\"_blank\" href=\"https:\/\/x.com\/KACST\/status\/1879921053935468567\" style=\"\" rel=\"noopener\">teamed up<\/a><\/strong><strong> with the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.cemi.ca\/\" style=\"\" rel=\"noopener\">Canadian Center of Excellence for Mining Innovation<\/a><\/strong> to develop and use fresh mining tech to boost mineral exploration.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> <strong>The Kingdom is<\/strong> <strong>embarking on a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8d139399-47f2-452e-a556-6e70cec24288\/going-fast-and-furious-with-usd-100-bn-mining-push\" style=\"\" rel=\"noopener\">USD 100 bn mineral investment project<\/a><\/strong> as part of a \u201cfast and furious\u201d push to deepen the Kingdom\u2019s mining footprint and position itself as a global mining hub. The nation\u2019s untapped mineral resources are estimated to be worth c. USD 2.5 tn, or 90% more than the last forecast in 2016.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The agreements covered exploration, financing, R&#038;D, and sustainability, among others<\/p>\n","protected":false},"author":1,"featured_media":93493,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2546],"tags":[10,2543,31,50,1912,3262],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mining","tag-enterpriseam-ksa","tag-future-minerals-forum","tag-investment-watch","tag-mining","tag-saudi-arabian-mining-company-maaden","tag-saudi-authority-for-industrial-cities-and-technology-zones-modon","wpautop","entry"],"acf":{"mongo_id":"a45a88c8-1960-471e-9fae-def2bd44d047","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/1183.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Future Minerals Forum wraps with SAR 107 bn in agreements","related_issue":[93485],"teaser":"The agreements covered exploration, financing, R&D, and sustainability, among others","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.8d9feec8-6472-40a2-8602-c1b31e4bedb6.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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