RELEASE: Future Minerals Forum commissions its first reports on the future of global mining

(Information sent by the signatory company).

RELEASE: Future Minerals Forum commissions its first reports on the future of global mining

(Information sent by the signatory company)

RIYADH, Saudi Arabia, Dec. 22, 2022 /PRNewswire/ -- The second Future Minerals Forum (FMF), organized by the Saudi Ministry of Industry and Mineral Resources, publishes a series of academic papers on the future of mining and ways of reforming the sector.

Peter Bryant, president of the Development Partner Institute and Clareo, discusses this issue in a challenging report. He argues that mining must reform itself in fundamental ways: how it extracts minerals and metals, how it presents itself to the world, and how it explains its role in the fight against climate change and its contribution to the goal of net zero emissions.

The document urges the minerals and metals industry to continue to dig deep and champion innovation, not only to boost the performance and sustainability of mining techniques, but also to reduce the impact on the environment. Now is the time to go further to educate the public that mining is an integral part of the fight against climate change.

Although society demands more and more clean energy, many people do not realize that the raw materials needed for electric vehicles, microchips, solar panels and rechargeable batteries come from the extraction of minerals and precious metals such as lithium, cobalt, copper and graphite. Without copper, for example, wind farms cannot function.

With $1.3 trillion worth of undeveloped mineral reserves, Saudi Arabia could lead a new way of thinking by embracing new mining techniques and, as a direct consequence, extend its solidarity image to reconnect the global industry with the communities and stakeholders, convincing them of the fundamental benefits that minerals and metals bring. "We have to boost investment in innovation to position mineral development as a catalyst for economic prosperity," the document urges.

Bryant argues that mining should be more of a "giver" than a "taker." He must take bigger steps to show communities, governments and stakeholders how the industry benefits societies, drives decarbonisation and fights climate change.

A global roadmap will lay the foundation and build the partnerships necessary for a strong strategy and clear action. This approach ensures that the burdens are not borne by those who can least afford it, and that the benefits are not accrued to a select few. Rather, it will create long-term, equitable, and sustainable prosperity.

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