The U.S.-Saudi Business Council (USSBC) led a delegation of eight North American companies to the 4th Future Minerals Forum (FMF), held January 15-16, 2025, in Riyadh, Saudi Arabia.
The companies joined the delegation with the aim to introduce a wide range of their products and services to the Saudi market, including AI, IoT, and SaaS services to optimize mining resource management, solid-liquid separation equipment, geophysical survey, end-to-end rugged AI-powered robots for construction and mining sites, legal and financial advisory services, security and condition monitoring cameras for heavy equipment operating in mines, tire design & manufacturing for any type of vehicles including mining equipment, and tire management services.
The delegation’s objectives at the FMF included exploring partnership opportunities with Saudi entities, identifying investment prospects, and contributing to discussions on sustainable mining practices and technological innovations. This delegation highlights the USSBC’s commitment to supporting American companies in establishing manufacturing and industrial operations in Saudi Arabia.
The USSBC set up a number of substantive meetings for the delegation, including with prominent Saudi mining and industrial companies, Saudi government stakeholders, and Saudi members of the USSBC such as Ma’aden Barrick Copper Company, Al Haytham Mining Company, Xenel Group, AYTB, Royal Road Arabia, Saudi Gold Refinery, Shurfah, the Future Factories Program, Ajlan & Bros, and other FMF attendees and exhibitors.
Delegates attended an exclusive FMF Gala Dinner hosted by Ma’aden, where they were introduced by the Council to Ministry of Industry and Minerals Resources (MIM) Minister H.E. Bandar AlKhorayef and MIM Vice Minister H.E. Khalid AlMudaifer. At the dinner, the delegates had the opportunity to network with high-level executives representing the global mining industry’s most critical and influential companies and organizations.
Delegates were also introduced to Bob Wilt, CEO of Ma’aden and a USSBC Board Member, as well as Mubarak Al-Khafrah, Chairman of the National Industrialization Company (Tasnee) and USSBC Vice Chairman.
With an estimated $2.5 trillion of mineral wealth across 52 commodities, Saudi Arabia aims to make mining the third pillar of its economic diversification. By leveraging its resources, strategic location, and international relationships, the Kingdom seeks to establish itself as a hub for the minerals value chain in the Middle East and Africa.
The 2025 FMF, the largest edition held to date, saw the
signing of 126 agreements and MOUs worth $28.5 billion (SR107 billion). These
agreements were signed to enhance exploration, mining, financing, research and
development, innovation, sustainability, value-added supply chains, and
minerals industries.
Hosted by the MIM since 2021, the FMF has become a key platform
for mining leaders, investors, and technology innovators to discuss
sustainability, technological advancements, and resource management. The FMF
serves as a catalyst for global collaboration, gathering 18,000 participants
from 170 countries, including 75 government representatives. The USSBC, an
Associate Partner of the FMF25, has supported the FMF since 2021 and led U.S.
business development missions to the FMF since 2022.
Charles Hallab, President and CEO of the USSBC, emphasized the significance of the Council’s involvement: “The Future Minerals Forum is a vital opportunity to strengthen collaboration between North American and Saudi stakeholders in the mining and industrial sectors. By fostering innovation, sustainable practices, and mutually beneficial partnerships, we aim to contribute meaningfully to Saudi Arabia’s Vision 2030 goals while showcasing the capabilities of U.S. companies on a global stage.”
The USSBC’s initiatives aim to contribute to the diversification of the industrial base of the Kingdom, in alignment with the National Industrial Strategy. In addition to supporting the mining sector development though U.S. business development missions to the FMF, the Council hosted the Saudi Net-Zero Petrochemicals & Conversion Industries Investment Forum in collaboration with Ministry of Investment of Saudi Arabia in 2023. It brought together over 180 executives and representatives from 12 Saudi ministries and agencies to discuss pathways for economic diversification.
