Saudi Arabia and Australia are poised to enhance cooperation in the mining sector with the launch of an inaugural bilateral forum this year as bilateral trade between the two countries has grown significantly, reaching $4 billion.
Speaking on the sidelines of the Future Minerals Forum in Riyadh, Sam Jamsheedi, the Vice Chair of the Australian Saudi Business Council, highlighted the event’s potential to boost bilateral exploration and investment opportunities in the mining industry.
He said that the inaugural Australia-Saudi Mining Forum would take place this year, marking a significant step in enhancing cooperation between the two countries, Arab News reported on Wednesday.
“One of the main pillars of Saudi Vision 2030 is mining and resources. And one of Australia’s biggest industries is mining. This forum is dedicated solely to mining opportunities for both sides, which is also supported by both governments as well. I believe this forum would kind of ignite another cycle of boom in both nations’ productivity,” Jamsheedi said.
Australian EVM Metal Group’s special purpose subsidiary, Riwaq Al Mawarid for Mining has successfully qualified for the Saudi Arabian Exploration Enablement Program
Jamsheedi pointed to Australia’s strong presence at the FMF, with over 300 Australian participants attending and the country hosting its first pavilion at the event.
He added that events like FMF are crucial to elevate and strengthen the bilateral relationship between Australia and the Kingdom.
Jamsheedi also elaborated on the Australian Saudi Business Council and Forum’s efforts over the past two years to facilitate trade and investment between the two nations.
“It is the official business council for both sides. Our mandate is to represent Saudi Arabian opportunities in Australia and also be the voice for Australians who come to Saudi Arabia,” he said.
Jamsheedi added that bilateral trade between Saudi Arabia and Australia has grown significantly, reaching $4 billion, with a $600 million boost in the past year due to the council’s support.
The business council is actively working to further increase this figure, focusing on key sectors such as mining, agriculture, food and beverages, infrastructure, technology, and services.
As Saudi Arabia aims to attract $100 billion in foreign direct investments by 2030, Jamsheedi emphasized the importance of hosting more events like FMF and raising awareness among Australian investors about the opportunities in the Kingdom.
In an another development, Australian EV Metals Group plc a global battery chemicals and technology company announced that its special purpose subsidiary, Riwaq Al Mawarid for Mining (“RIWAQ”) has successfully qualified for the Saudi Arabian Exploration Enablement Program (“EEP” or “the Program”). Jointly facilitated by the Ministry of Industry and Mineral Resources (“MIMR”) and the Ministry of Investment for Saudi Arabia (“MISA”).
This qualification, formally endorsed at the Future Minerals Forum in Riyadh, applies to RIWAQ’s Balthaga Exploration Project (“Balthaga Project” or “the Project”) located 450km east of Jeddah in the South-East of the Arabian Shield.
The Project covers 13 licensed tenements spanning approximately 1,300km² prospective for lithium, nickel and other battery metals.
“We are honoured to qualify for the Exploration Enablement Program and extend our gratitude to MIMR and MISA for their continued support of our Balthaga Project. This initiative is a testament to the Kingdom’s commitment to stimulating exploration activities, accelerating project development, and advancing Saudi Arabia’s Vision 2030 goal of becoming a leading global mining jurisdiction”, Luke Fitzgerald, CEO of EV Metals Group plc said in a statement.
