Lima: Saudi Arabia's Ministry of Industry and Mineral Resources, along with senior representatives from the Saudi Geological Survey (SGS) and ESNAD, participated in PERUMIN 37, one of the world's leading biennial mining conventions. According to Saudi Press Agency, the delegation highlighted the Kingdom's growing role in shaping the future of global mining and sustainable resource development, and the upcoming Future Minerals Forum, to be held in Riyadh in January. Deputy Minister of Mineral Resources Management Abdulrahman AlBelushi said Saudi Arabia and Peru share a deep commitment to mining as a driver of economic growth. He added: 'Our participation at PERUMIN 37 reflects our belief in collaboration and knowledge-sharing to strengthen global mineral supply chains while supporting global electrification and digitalization goals.' He also emphasized that Saudi Arabia is positioning mining as the third pillar of its national industrial economy in line with Vision 2030. With an estimated $2.5 trillion of u ntapped mineral endowment, the Kingdom is implementing investor-friendly policies, has world-class infrastructure in place, including mine-to-market facilities, and is fostering partnerships to unlock its mineral potential and strengthen global supply chain resilience. AlBelushi also underlined recent steps Saudi Arabia has taken to attract investment and technology partners, such as implementing transparent, merit-based exploration licensing rounds; launching the Exploration Enablement Program, with $182 million in support to de-risk early-stage investments in mineral exploration; offering competitive incentives, including 100% foreign ownership and access to significant co-funding for CAPEX through the Saudi Industrial Development Fund (SIDF); and launching the National Geological Database (NGD), which provides investors with over 80 years of geological data, followed by one of the largest regional survey programs to de-risk exploration and enhance the geological knowledge of the Arabian Shield. The deleg ation also reinforced the Kingdom's interest in strategic partnerships with Latin American countries, including Peru, one of the world's largest producers of copper, silver, and zinc. Areas of collaboration discussed include exploration technology, mining know-how, leveraging Peru's experience in addressing the challenges and opportunities with artisanal miners and joint investments to strengthen global supply chains. The Saudi delegation conducted several bilateral meetings with key Peruvian and international companies in exploration, mining, and service provision, exploring potential collaborations and promoting investment opportunities in the Kingdom. Additionally, the delegation highlighted the Kingdom's mining sector and its investment incentives through a dedicated country session titled 'Unlocking Saudi Arabia's Mineral Potential: The world's next global mining and mineral processing hub.'
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