That is the setting that Australian Mining dot com dot au gives us (at https://mining.com.au/saudi-arabias-trillion-dollar-push-future-minerals-forum/). We think that we are given ‘Saudi Arabia’s trillion-dollar push: Future Minerals Forum’, but we are given so much more. You think that the headline gives the goods, but the start gives us “Saudi Arabia’s mining sector is shifting from a long-term ambition to a near-term investment hot-spot, underpinned by mineral potential estimated at US$2.5 trillion ($3.75 trillion), as reported by the Future Minerals Forum (FMF).” A setting where some see the blatant debatable truths that America hands us all that they are doing so well in that place, whilst Saudi Arabia quietly sets the setting of over 2 trillion dollars. And the entrepreneurs are not to be trifled with as you can see that originally “According to FMF, the number of licensed mining companies operating in Saudi Arabia has grown from six in 2019 to more than 150, while exploration expenditure reached SAR$1.33 billion between 2019 and 2023.” A growth of 2,500% (in 5 years) with an exploration expenditure of well over a billion Saudi Riyals. So as we are given “EEP, run by the Ministry of Industry and Mineral Resources in partnership with the Ministry of Investment, allocated SAR$70.6 million in its first batch of funding to support lithium, copper, gold, and base metal projects. The funding enabled 440,000m of drilling, 57,000 geochemical samples being collected, and the creation of more than 50 technical roles.” This is the stuff that mining dreams are made of, well beyond the setting of the old American gold rush a setting that could make Saudi Arabia the most industrious nation this century, because the goods when found will need cleaning, melting and all sorts of actions and it will all be done in Saudi Arabia. So whilst we are given “Countries are collaborating on mineral development and recognise cross-border cooperation can meet global demand, whereas the other meaning represents minerals are positions as engines for jobs, industrialisation, and long-term economic transformation in supplier countries.” As I see it, they all want ‘cross border collaboration’ but this is a Saudi party, A Muslim setting and as I see it, Saudi Arabia sets the terms, not Wall Street and they are fighting over there on Greenland and Canadian goods, Venezuelan oil, all whilst Saudi Arabia has untapped settings. I think that Aaliyah Rogan said it best when she ended the article with “As global miners are looking to diversify geographically and secure future supply, Saudi Arabia is positioning itself as a credible third pillar of its economy, alongside energy and petrochemicals.” So as I see it, there is every chance that whatever America is vying for (Canada or Greenland) it comes with a lack of manpower, because as I see it, miners might not like the stage of political grievances whilst they can get a safe secure setting in Saudi Arabia for some time to come (at least 10 to 15 years). So whilst we are considering that the “Ministry of Industry and Mineral Resources in partnership with the Ministry of Investment, allocated SAR$70.6 million in its first batch of funding to support lithium, copper, gold, and base metal projects.” Consider the manpower they would need for this and I reckon any miner will be putting their name in the hat for such an amazing opportunity.
A setting that quietly walked passed a lot of people looked at the Greenland setting with “Foreign Affairs Minister Anita Anand affirmed support for Denmark, as Washington again says it wants to annex the country’s self-governing territory of Greenland. Anand spoke Tuesday with her Danish counterpart Lars Lokke Rasmussen, and she wrote on social media that she conveyed to him “Canada’s support for the fundamental importance of respect for sovereignty and territorial integrity.”” (Source: Cast Net) and whilst that (for lack of a better term) RomCom is going on, Saudi Arabia is making a move for its treasures and getting the resources to mine it properly.
Isn’t it a great moment when you learn that something happened in the background and you learn of this whilst most western papers will not report on it? So, have a great day all, My Monday is almost at an end whilst Toronto is merely starting today, Vancouver joins us in less than 2 hours.
Lawrence van Rijn - Law Lord to be 