As Gulf states look to boost their vital mineral ambitions and challenge well-established global firms, mining executives have welcomed a dramatic increase in investor interest from the Middle East.
A selection of materials deemed necessary for the energy transition are referred to as critical minerals. These resources, which include metals such as copper, lithium, nickel, cobalt, and rare earth elements, are often at high risk of disrupting supply chains.
During a business tour through the Middle East, Tony Sage, CEO of Critical Metals, a rare earths miner listed in the United States, stated, “The interest in rare earths in this part of the world is phenomenal.
His remarks coincide with the influx of business executives and lawmakers to Riyadh for Saudi Arabia’s Future Investment Initiative (FII), sometimes known as the “Davos in the Desert.
The Key to Prosperity: Unlocking New Frontiers of Growth” is the theme of the yearly event, which began Monday. Given the oil-rich kingdom’s ongoing efforts to diversify its economy, it is anticipated that this year’s FII will focus on topics like artificial intelligence.
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