9 erring body care centers shut in Riyadh    20,000 military emblems confiscated in Riyadh    Al-Samaani visits headquarters of Hague Conference on Private International Law    KSrelief provided over $7bln to support children around the world    Al-Jasser: Saudi Arabia to expand rail network to over 8,000 km    OMODA&JAECOO: Unstoppable global cumulative sales over 360,000 units    Saudi Arabia sees 73.7% rise in investment licenses in Q3 2024    Al Hilal doesn't need extra support to bring new players, CEO says    Rust premieres at low-key film festival three years after shooting    Fate of Gaetz ethics report uncertain after congressional panel deadlocked    Ukraine fires UK-supplied Storm Shadow missiles at Russia for first time    Netanyahu offers $5 million and safe passage out of Gaza to anyone returning a hostage    Indian billionaire Gautam Adani indicted in New York on fraud charges    Rafael Nadal: Farewell to the 'King of Clay'    Indonesia shocks Saudi Arabia with 2-0 victory in AFC Asian Qualifiers    Sitting too much linked to heart disease –– even if you work out    Yemeni Orchestra's captivating performances in Riyadh, showcasing shared cultural legacies    Future of Ronaldo's Al Nassr contract remains undecided, says Saudi Pro League CEO    GASTAT report: 45.1% of Saudis are overweight    Denmark's Victoria Kjær Theilvig wins Miss Universe 2024    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Alkhorayef highlights Saudi Arabia's potential to support clean energy transition
Published in The Saudi Gazette on 11 - 11 - 2022

Saudi Arabia's Minister of Industry and Mineral Resources Bandar Alkhorayef stressed the vital role the Kingdom is playing in supporting the global transition to clean energy in a fireside chat held on Friday on the sidelines of COP27 in Sharm-el-Sheikh, Egypt.
The Critical Minerals panel was hosted as part of the Saudi Green Initiative 2022 Forum, which gathers climate leaders to evaluate progress in climate action. The forum is held under the patronage of Crown Prince Mohammed bin Salman.
"With significant untapped mineral and metal deposits in Saudi Arabia, we have vast geological resources needed to help build a future based on clean energy. With a five-fold increase in supply needed by 2050 to create renewable energy technologies that global economies will increasingly run on, it is vital that we address the issue of mineral supplies now," Alkhorayef said.
Minerals critical to the energy transition will significantly drive demand over the coming decades. Yet not enough are being produced at the scale and speed necessary to deliver the transition in time. According to the International Energy Agency (IEA), production from existing and planned mines will only meet half of the lithium and cobalt needed by 2030 to achieve the targets set out in the Paris Agreement. With low exploration, development and operating costs relative to industry standards and proximity to end markets, Saudi Arabia is well-positioned to lead the global mining sector.
With national ambitions to achieve net zero by 2060, Saudi Arabia is pursuing its blueprint of economic diversification – Vision 2030 – to become a world leader in the renewable energy market. Saudi Arabia is leveraging its vast mineral resources as part of a broader strategy to build integrated supply chains central to the circular carbon economy, including green steel, green hydrogen and electric vehicle and battery manufacturing.
"The Ministry of Industry and Mineral Resources was created in Saudi Arabia to ensure that our country benefits from its natural resources and we don't fall into the trap many others have in getting their resources processed elsewhere," Alkhorayef added.
"To develop a mining industry capable of meeting future demands, we need to further invest in exploration, reduce licensing time applications, make geological data available and integrate advanced technologies. That's why we've launched our new mining investment law to reduce licensing time and announced our huge national geological survey program to make data available for investors," Alkhorayef added.
Ensuring that metal and mineral exploration is conducted sustainably and with minimal impact on the environment and supports local community development, Saudi Arabia's recent mining regulatory reforms saw the introduction of the new Mining Sustainability Principle. Based on the latest mining investment law, the principle requires mining companies operating in Saudi Arabia to demonstrate strict environmental, social and governance (ESG) adherence as part of any exploration license application.
"Collaboration the key if we want to achieve our targets. That's why in Saudi Arabia we are convening global mining experts and governments from around the world for further collaboration, share best practices, and help develop regional centers of excellence," Alkhorayef said.


Clic here to read the story from its source.