LONDON — Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Ibrahim Al-Khorayef has visited the London Metal Exchange together with industry and mining leaders as part of his visit to the United Kingdom.
The minister was given a brief introduction about the history of the London Metal Exchange and its recent developments and was briefed on purchase and trading mechanisms and key metal storage sites.
He learned about the practical solutions put in place to guarantee a sustainable future and visited the trading room and was given an explanation about trading activities. Al-Khorayef attended a live trading session for, aluminum, nickel, zinc, lead and titanium.
The minister also invited attendees to the Future Minerals Forum, which is held annually in Riyadh in January, stressing the Kingdom’s keenness to promote and attract quality investments.
Saudi Arabia aims to exploit the mineral wealth estimated at 1.3 trillion, including phosphate ($321 billion), gold ($229 billion), copper ($222 billion), and zinc ($138 billion). It also intends to develop mineral-related industries by offering full support and a solid infrastructure that guarantees sustainability. — SG
