Riyadh – Mubasher: Mekyal and Marine Mining Company signed a memorandum of understanding (MoU) with Atlantis Blu Mining GmbH to create a $1.44 billion fund to support deep-sea mineral exploration projects.
The announcement was made on the sidelines of the fourth edition of the Future Minerals Forum (FMF), which concluded its activities in Riyadh on 16 January.
Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Alkhorayef, said: “We are proud of the achievements we have made during this edition. Our mission is so noble, it extends beyond minerals and mining to how we can help communities benefit from the sector in a way that ensures sustainability.”
Alkhorayef stressed the importance of securing supply chains for critical minerals to boost global energy transition.
He pointed out that the mining sector led the fastest-growing sectors worldwide, with mineral potential estimated at $2.50 trillion.
