#Saudi Arabia #Riyadh #Future Minerals Forum #mineral development

FMF's 5th Ministerial Roundtable: A New Era in Mineral Development

The Future Minerals Forum (FMF) recently wrapped up its 5th Ministerial Roundtable in Riyadh, Saudi Arabia. This pivotal event saw participation from over 100 governments and 59 multilateral organizations, signaling a momentous step toward enhancing global cooperation in responsible mineral supply chains.

In his opening address, Bandar Alkhorayef, Saudi Arabia's Minister of Industry and Mineral Resources, emphasized the significance of this gathering, indicating it as a landmark event that reflects increasing awareness of the shared global responsibility in mineral supply management. Originally launched in 2022 with the involvement of 32 governments, the FMF has grown exponentially, collecting representatives from all G20 member states and numerous international organizations. This growth illustrates a recognized necessity for coordinated global solutions in mineral sourcing and environmental stewardship.

One notable outcome of the roundtable includes the establishment of a permanent ministerial steering group tasked with providing strategic guidance to the FMF and overseeing the implementation of existing initiatives. This group aims to ensure a balanced geographical representation and accountability within its 19 initial member countries.

Progress on Key Initiatives

Khalid Al-Mudaifer, the Vice Minister for Mining Affairs, outlined developmental strides made in 2025, spanning three key initiatives:

1. Future Minerals Framework Development: This initiative aims to boost infrastructure financing while aligning governmental policies to be more favorable. The World Bank has been engaged to explore funding possibilities across seven prioritized infrastructure corridors identified in Africa and Latin America.

2. Responsible Mining Standard Implementation: Focused on enhancing transparency through traceability, this standard will guide mining operations toward ethical practices that benefit local communities and protect the environment.

3. Network of Centers of Excellence: Planned across Africa, Central Asia, and Latin America, this innovative network is designed to strengthen technical, institutional, and human capabilities within the mining sector.

Altogether, these initiatives strive to foster a sustainable and responsible mineral supply chain, serving both the economy and the ecological balance.

Supporting Supplier Nations

In a noteworthy presentation, Valerie Levkoff, the Vice President of Infrastructure at the World Bank, introduced a new mineral strategy aimed at supporting supplier nations through regional transformation and manufacturing. The strategy emphasizes creating local jobs and value, promoting sustainable practices, and fostering growth within the communities directly impacted by mining activities.

As the FMF continues to navigate the complexities of mineral resource management globally, the collaborative efforts witnessed during this roundtable signify a clear commitment to responsible practices and shared prosperity. Looking ahead, the FMF aims to build upon this momentum, ensuring that the future of mineral development benefits all stakeholders involved, from governments to local communities.

Conclusion

The 5th Ministerial Roundtable of the FMF marks a critical advancement in the global dialogue surrounding mineral development, with substantial participation signaling a unified vision for the future. With the world increasingly reliant on minerals for technological progress and sustainable development, this collaborative approach presents a promising pathway toward responsible mineral sourcing that prioritizes both people and the planet.