On January 10-12, the Future Mineral Forum, initiated by the Government, was convened for the second time in Riyadh, the capital of Saudi Arabia. The mission statement of the forum was “The World’s Next Mining Hub: A New Gateway to Lands of Opportunity”.
The Forum brought together global mining policy makers, investors and business leaders under one roof. More than 150 investors, representatives of over a hundred mining corporations and countries arrived in Riyadh.
Although Saudi Arabia is one of the most developed oil producing and exporting countries in the world, the country’s government is also taking steps towards the development of the metal mining industry. In the end of the forum, the American Ivanhoe Electric, headed by prominent mining magnate Robert Friedland, established a 50/50 joint venture with Ma’aden, a Saudi Arabian mining company. Under the agreement reached, Ma’aden will make available an area of about 48,500 square kilometers (1.6 times larger than the territory of Armenia) in Saudi Arabia to Ivanhoe Electric for exploration under a special permit.
Armenia Can Have Several More Giants Like ZCMC
