RIYADH — Minister of Industry and Mineral Resources Bandar Al Khorayef discussed ways of enhancing cooperation in the industry and mining sectors between Saudi Arabia and the African countries participating in the Saudi-African Summit.

This has been carried out by Al Khorayef while holding bilateral meetings with a number of ministers of African countries participating in the summit which was held in Riyadh on Friday.

According to the Saudi Press Agency (SPA), Al Khorayef met with a number of ministers from Zambia, who are the Minister of Foreign Affairs and International Cooperation, Stanley Kakubo, the Minister of Finance, Wastumbekem Mosoktwane, the Minister of Agriculture, Reuben Mtolo Phiri, and the Minister of Foreign Affairs and International Trade, Frederick Shava.

The meeting carried out by Al Khorayef was also with the Minister of Trade, Industry, and Competition of South Africa Ebrahim Patel, the Minister of Mines and Geology of Senegal Oumar Sarr, the Minister of Mines of the Democratic Republic of the Congo Antoinette N'Samba Kalambayi, and the Minister of Petroleum, Energy, and Minerals of Mauritania Al-Nani Ould Chrougha, SPA stated.

The meetings witnessed conducting partnerships between the Saudi and African companies, exchanging technical expertise, and discussing ways to benefit from the promising investment opportunities in the African continent.

These meetings come within the framework of Saudi Arabia's endeavor, through the summit, aimed at enhancing the industrial, mining and trade partnership with the African countries.

It also aims to strengthen cooperation in different economic fields and invest in business development, infrastructure, and human capital, in addition to enhancing the cooperation to achieve sustainable development in the African continent.

It is noteworthy that Saudi Arabia's Ministry of Industry and Mineral Resources has signed 4 Memorandum of Understandings (MoUs) with 4 African countries to cooperate in the mining sector during Saudi-African Economic Forum in Riyadh in the presence of Al Khorayef and a number of his counterparts from the countries included in the MoUs.

The memorandums signed by Al Khorayef with his counterparts included a MoU project for technical cooperation in the field of mining and mineral resources with Chad's Ministry of Mines and Geology, Senegal's Ministry of Mines and Geology, and Zimbabwe's Mines and Mining Development.

The 4th memorandum was signed with Mauritania's Ministry of Petroleum, Energy for cooperation in the field of mineral resources.

The MoUs stipulate on cooperating in the mining field by developing sources of information on minerals and mines, exchanging experiences and experts, joint cooperation in the field of regulations, legislation and policies for the mining sector.

They also stipulate on exchanging experiences in the field of disseminating geological and mineral information, evaluating and interpreting satellite images, geographical data, and using Geographic Information Systems (GIS) tools.

The memorandums also included encouraging the private sector in the countries to invest in the mini sector and exploring available mining opportunities, in addition to participating in the programs and working sessions in the mining field.

Furthermore, transferring modern technology used in exploration and evaluation of ores, encouraging local content and enhancing the technical capabilities of local suppliers in advanced sectors of the mining industry.

The MoUs identified a number of cooperation aspects represented in developing the human cadres, transferring knowledge in the field of exploration and mining in the mineral resources sector in accordance with the regulations in force in the mentioned countries.

This also included encouraging partnership and exchange between public and semi-public institutions and private companies operating in the minerals sector, as well as consultations in the institutional development for the minerals sector, in addition to developing legislation and laws regulating this sector.

© Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).