Al Madina Al Munawarah to become stage for mining operations in Kingdom of Saudi Arabia

June 4, 2014 12:34 pm

Al Madina Al Munawarah marked the beginning of a new phase with the commencement of the Mining Investment Opportunities Forum. Organised by IQPC and held under the Patronage of His Royal Highness Prince Faisal bin Salman bin Abdulaziz Al-Saud, Prince of Al Madina Al Munawarah region, the forum featured a series of keynote sessions from heavyweights in the Kingdom’s mining industry.

Strategic partner of the event, Saudi Arabian Mining Company (Ma’aden) played a prominent role in both the keynote and the plenary sessions.

Commenting on Al Madina’s importance to Ma’aden’s mineral and metal operations, president and CEO Engr. Khalid bin Saleh Al Mudaifer told attendees , “Ma’aden currently plans to excavate 500,000oz of gold across the Kingdom, including in the Al Munawarah region, and is considering introducing downstream operations to the province.” “In other parts of the Kingdom, we are moving beyond upstream to successfully develop every mineral in the value chain. Al Madina could see similar development, if we give our support to the Royal Commission as it develops Yanbu into a regional aluminium downstream hub,” he added.

“What will distinguish our operations in the future is the progression of our strategies from evaluating known mineral sources to discovering new mineral resources,” Engr. Khalid in Saleh Al Mudaifer said. “Our main priority now is to maintain a high level of safety and security, and to maximise the value of our current gold mining operations at Mahad Al Dahab and Bulgah, and our magnesite processing operations at Madina Industrial City,” he added.

Engr. Khalid in Saleh Al Mudaifer also discussed the company’s community service initiatives in the Kingdom, showcasing a model of a community centre commissioned for Mahad Al Dahab. As a leading industrial entity in the Kingdom, Ma’aden recognises its unique position to support the communities in which it operates.

Dr. Abdullah Al Attas, Assistant President of the Saudi Geological Survey (SGS), delivered a detailed overview of the mining industry in Saudi Arabia, and paid service to the government’s commitment to the industry in his keynote address.

“The government of Saudi Arabia has invested a substantial amount of money in the mining industry to prepare the groundwork for mining operations in the country. The Kingdom’s two enormous industrial mineral complexes testify to that,” Dr. Al Attas said. “The government has also built more than 600 kilometres of railroad to carry minerals from the country’s northern centre to an industrial mineral complex in the Arabian Gulf, and provides the gas and water needed to support the mineral industry. It is clear that the government is investing heavily in a profitable future,” Al Attas added.

Dr. Mohamed Faraj, Chairman of the Board of the Madina Chamber of Commerce & Industry, delivered the keynote, trumpeting the opportunities for investment in Al Madina Al Munawarah and discussing the factors that drive industrial material mining in Madina.

“The Chamber of Commerce and Industry in Al Madina Al Munawarah has organized the Mining and Investment Opportunities Forum out of our desire to stimulate the economy in Al Madina Al Munawarah, and strengthen the participation of the private sector in the province’s development,” said Dr. Faraj. “The Chamber of Commerce and Industry is also pleased to have organized the Mining Investment and Opportunities Forum in collaboration with the Ministry of Petroleum and Mineral Resources to fuel the private sector’s contribution to rapid growth, greater diversity, and greater capacity toward sustainable development in Al Madina Al Munawarah and the Kingdom, more generally,” he added.

Three of the distinguished keynote speakers-Dr. Mohammed Faraj, Dr. Abdullah Al Attas and Abdullah Sultan-sat on a panel entitled, ‘Ask a Saudi,’ an opportunity to garner information on the recent legislation on mining and investment, and perspective on the role of the private sector. In addition to the region’s leading industry regulators and developers, representatives of the Ministry of Petroleum and Mineral Resources, and the Saudi Arabian General Investment Authority (SAGIA) were also in attendance.

For more info please contact:
Loy Pinheiro
Marketing Manager
IQPC Middle East
Tel: +97143602821

Tina Carter
Account Executive
Tel: +97144502608