The fourth Future Minerals Forum (FMF) marked a historic milestone with the signing of 126 Memorandums of Understanding (MoUs) and agreements valued at $28.5 billion, between government organizations, local, and international companies. The agreements, which span a broad spectrum of investments and collaborations, represent strategies for driving economic growth, expanding geological efforts, building capacity, diversifying industries, and enhancing the Kingdom’s global standing in the mining sector. Key areas of the MoUs include exploration and mining, financing, research and development with a focus on technological innovation, sustainability initiatives, and value chain investments.
Saudi entities involved in these agreements include the Ministry of Industry and Mineral Resources (MIM), Aramco, Ma’aden, MODON, NIDLP, Ajlan & Bros, KACST, and many others. On the international front, the Forum welcomed agreements with major global players, such as Viridien, Star Vision Aerospace, Alibaba Group Holding Limited, College of North Atlantic Canada, and ADG, among others. These agreements demonstrate Saudi Arabia’s openness for business and preparedness as a hub for mining excellence. Reflecting the Kingdom’s strategic goals, 51% of these MoUs were signed with local companies, while international partnerships accounted for 49% of agreements, illustrating a balanced and inclusive approach to growth.
Among the agreements signed were:
• an MoU between the Royal Commission for Jubail and Yanbu (RCJY) and Tosyalı Coremetal Arabia to to cooperate in establishing an integrated flat steel plant at Ras Al Khair
• the agreement between RCJY and Vale International SA to invest in an iron ore briquette plant at Ras Al-Khair
• the MoU between RCJY and Vedanta Copper International to establish a copper smelter, refinery and copper rod project
• the MoU between Mekyal Financial Technologies and Marine Mining Company to set up and organize the investment structure to fund deepsea exploration.
• the MoU between Al Watania For Industries and the Shanghai Donghexin New Material Group Co., Ltd, China to produce high-quality tinplate for the metal packaging industry.
As the world’s premier platform for minerals, FMF continues to drive conversations and collaborations that shape the future of mining, with this year’s event setting a benchmark for transformational partnerships in the industry.
The world’s leading forum for shaping the future of minerals
The Future Minerals Forum (FMF) is the world's premier platform for minerals. FMF stands at the forefront of global industry connections, bringing together governments, international organizations, and stakeholders to collectively shape the future of minerals. With 14,000 participants from 178 countries, including 75 government representatives, FMF serves as a catalyst for global collaboration. Through the (invite-only) ministerial roundtable, conference and exhibition, and specialized Mineral Technology and Exploration zones, the global conversation on minerals takes center stage, driving innovation and collaboration toward a sustainable future.
