RIYADH, Saudi Arabia/PRNewswire/ -- The Ministry of Industry and Mineral Resources (MIM) has announced the closing of the second Future Minerals Forum (FMF), which was held under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud.

In his concluding speech, Forum host HE the Minister of Industry and Mineral Resources, Bandar Alkhorayef, thanked the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and His Royal Highness Prince Mohammed bin Salman, Crown Prince and Prime Minister, for their support and sponsorship of the Future Minerals Forum, and their interest and continuous support for the empowerment of the mining sector in the Kingdom.  

HE Alkhorayef said that the success of the Forum was reflected in the ideas, suggestions and discussions presented by all participants from both home and abroad. Announcing that the Ministry will definitely hold a third edition of the Future Minerals Forum and ongoing ones, he underlined the need to move forward in developing the mining sector based on main pillars that include continuing dialogue, strengthening cooperation between various countries in this field.

The panel sessions at the Forum explored a number of topics such as the future of the mining sector, its contributions to the development of societies, the promotion of sustainable and clean energy systems, and attracting direct mega-investment to the mining sector in the region.  

The Forum witnessed the signing of 60 agreements and Memoranda of Understanding in the field of mining and minerals industry between a number of government agencies, companies and institutions participating. These agreements and Memoranda of Understanding covered mineral exploration, technology, communications, the application of sustainability standards, certification and the industrialization of the mining sector.

Delegates voted to see many more Future Minerals Forums, acting as a catalyst for swift investment in the sector, especially in light of the dramatically increasing demand for minerals now and in the future, due to modern industrial demands, especially with regard to the supplying the minerals needed to deliver renewable energy in the future, and for green products such as electric cars.