#Saudi Arabia #Riyadh #Future Minerals Forum #mineral supply chains

Fifth Ministerial Roundtable of the Future Minerals Forum

The fifth Ministerial Roundtable, part of the Future Minerals Forum (FMF), recently took place in Riyadh, gathering representatives from over 100 governments and 59 international organizations. This significant event marks a noteworthy advance in global cooperation focused on creating responsible and sustainable mineral supply chains. The discussions and initiatives launched during this roundtable reflect a growing acknowledgment of the shared responsibility that comes with mineral supply and the need for coordinated and inclusive solutions.

In his opening address, His Excellency Bandar Alkhorayef, Minister of Industry and Mineral Resources, emphasized that this edition of the roundtable reflects a pivotal moment in what has evolved into the world's largest ministerial meeting of its kind. Since its inception in 2022, participation has surged from just 32 countries to ministers and high-ranking officials from more than 100 nations, including all G20 member states. This escalation highlights the increasingly urgent global engagement necessary to address mineral supply chains issues.

During the event, the Minister announced the establishment of a Permanent Ministerial Steering Group. This group will provide strategic advice to the Ministerial Roundtable and oversee the implementation of existing initiatives while proposing new areas for cooperation. To ensure cultural and geographical balance, the group will have an initial rotating composition of representatives from 19 countries, ensuring continuity and accountability in their efforts.

Key Initiatives Discussed

His Excellency Khalid Al-Mudaifer, Deputy Minister for Mining Affairs, detailed the progress made in 2025 across three significant initiatives aimed at enhancing mineral supply chains. First, a new Future Minerals Framework was launched to boost infrastructure financing and more effectively align conducive governmental policies. The World Bank Group has been tasked with exploring funding opportunities in seven identified priority infrastructure corridors across Africa and Latin America.

Second, a standard for responsible mining was introduced to improve transparency and create traceability within supply chains. This is fundamental in promoting ethical sourcing practices. Lastly, a network of Centers of Excellence is set to be established in regions such as Africa, Western and Central Asia, and Latin America, aimed at strengthening technical, institutional, and human capacity within those markets.

Valerie Levkoff, Vice President of Infrastructure at the World Bank Group, also presented a new mineral strategy supporting supplier countries. This strategy emphasizes regional processing and manufacturing, intending to generate local value and job opportunities.

Conclusion

The outcomes of the fifth FMF Ministerial Roundtable signify not only a commitment to responsible mineral sourcing but also a collaborative blueprint for the future. With the establishment of new frameworks and initiatives, the global community is taking concrete steps towards a more sustainable and ethical approach to mineral supply chains. This meeting paves the way for enhanced cooperation among nations, with an aim to bolster economic growth while addressing the critical issues of our times regarding resource extraction and sustainability.