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19/07/2024
Mining News

Saudi Arabia explores mining collaboration with Morocco to enhance economic partnership

Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Alkhorayef, emphasized the potential for leveraging Morocco’s mining expertise during a recent roundtable with investors and businessmen in North Africa. According to the Saudi Press Agency, both nations, which together produce over 40 percent of the world’s phosphate fertilizer, have the opportunity to become pivotal partners in significant mining ventures.

Alkhorayef highlighted Saudi Arabia’s ambition to elevate the mining sector as a core pillar of its national industry. He underscored the Kingdom’s National Industrial Strategy, focusing on sectors such as sustainability, food security, pharmaceuticals, and military industries. The minister also emphasized Saudi Arabia’s strategic advantages, including its robust oil and gas sectors and favorable geographical position, which facilitates access to key global markets, especially in Africa.

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In addition to current strengths, Alkhorayef pointed out Saudi Arabia’s forward-looking edge in emerging industries like electric vehicle batteries, renewable energy, and space-related technologies. He stressed the importance of fostering industrial integration across Saudi Arabia, neighboring countries, and Arab nations, aligning with the National Industrial Strategy’s objectives to enhance collaboration and development paths.

During his visit to Morocco, Alkhorayef engaged in discussions with Moroccan officials to explore avenues for enhanced cooperation across vital economic sectors. The talks aimed to identify promising investment opportunities and establish sustainable partnerships that align with Saudi Vision 2030 goals, particularly in industrial and mining advancements.

Alkhorayef’s visit underscores Saudi Arabia’s commitment to strengthening economic ties and exploring new avenues for collaboration with Morocco in mining and industrial sectors.

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