#Saudi Arabia #Riyadh #Future Minerals Forum #Sustainable Mining

The Future Minerals Forum's 5th Ministerial Roundtable

The 5th Ministerial Roundtable of the Future Minerals Forum (FMF) concluded recently in Riyadh, a meeting that marked a pivotal stride in global cooperation centered on mineral resource management and the transition towards more responsible and sustainable mining practices. The event witnessed the gathering of representatives from over 100 governments and 59 international organizations, illustrating a profound commitment to reshape global mineral supply chains.

In his opening remarks, His Excellency the Minister of Industry and Mineral Resources, Bandar Alkhorayef, declared this meeting as a defining moment, highlighting its significance as the largest international ministerial assembly of its kind. Since the inception of the Roundtable in 2022, participation has soared from just 32 governments to a robust representation from across the globe, including all G20 member states. This notable expansion signifies a collective acknowledgement of the necessity for cooperative and inclusive strategies in addressing mineral supply challenges.

One of the notable outcomes of the Roundtable was the establishment of a Permanent Ministerial Steering Group. This group is responsible for providing strategic oversight to the FMF and the Ministerial Roundtable, ensuring the implementation of existing initiatives while also identifying new avenues for collaboration. Comprising an initially rotating membership of 19 countries, the group aims to uphold comprehensive geographic representation, fostering both continuity and accountability.

Further, His Excellency Khalid Al-Mudaifer, the Vice-Minister for Mining Affairs, provided an update on three core initiatives realized in 2025 that seek to bolster responsible mining practices. The first initiative is the development of the Future Minerals Framework, aimed at enhancing financing for infrastructure and aligning regulatory policies effectively, with the World Bank Group assigned to explore funding opportunities across seven prioritized corridors in Africa and Latin America.

The second cornerstone is the creation of a transparency standard for responsible mining, facilitating traceability throughout the supply chain. This standard is crucial in building trust and accountability in mineral sourcing. Thirdly, a proposal to establish a Network of Centers of Excellence is set to enhance technical, institutional, and human resources across regions, particularly in Africa, West and Central Asia, and Latin America.

At the event, Ms. Valerie Levkoff, Vice President for Infrastructure at the World Bank Group, presented a new minerals strategy designed to aid supplier nations. This strategy focuses on fostering local value addition through regional processing and manufacturing efforts, ultimately generating employment opportunities for local communities.

The FMF’s commitment to sustainability and responsible mineral resource management is vital in today's context of rapid industrialization and increasing demand for minerals essential to green technologies. By fostering collaboration among governments and organizations worldwide, the FMF is not only working towards ensuring a responsible mineral supply chain but is also promoting resilient and sustainable practices that can support economic development while preserving the environment.

In conclusion, the 5th Ministerial Roundtable of the FMF serves as a promising beacon towards a new age of minerals development, one that advocates for responsibility, sustainability, and collaboration across borders. The groundwork laid at this meeting will undoubtedly serve as a blueprint for future endeavors in the global mineral sector, hoping to ensure that mineral supply is managed collectively and sustainably to meet the challenges of the modern world.