site.btaCaretaker Economy Minister Attends Future Minerals Forum 2023, Proposes Joint Projects in Mining

Caretaker Economy Minister Nikola Stoyanov presented the experience of Bulgarian mining companies and the achievements of the country’s mining industry at the Future Minerals Forum 2023 international conference in Riyadh. This is one of the most significant economic events in the Middle East, expected to become the largest global mining industry forum for the year, the Economy Ministry said Tuesday.

Organized by the Saudi Arabian Ministry of Industry and Mineral  Resources and the Saudi Public Investment Fund, the Future Minerals Forum was opened by the Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef. Focused on the growing global need of new sources of minerals, the three-day event (January 10-12) has gathered over 6,000 in-person attendees from all over the world, 100+ government officials from over 130 countries and CEOs from mining and energy organizations, as well as scientists.

Speaking at the Ministerial Roundtable on the first day, Stoyanov underscored that Bulgaria reached the peak of its extraction industry output in 2021 with 117 million tonnes. This makes the country one of the European leaders in some of the basic raw materials like copper and lignite coal, for example. Bulgaria has also consistently been producing specialists in the field, while Bulgarian companies in the sector can compete with the best, he stressed.

The Bulgarian Economy Minister invited the ministers and officials participating in the forum to investigate opportunities for joint projects in mining with Bulgarian companies. Stoyanov explained that during his previous visit to Saudi Arabia he had begun talks relevant to the extractive industry and its potential. These talks, including with business representatives from both countries, will continue over the coming days, he added.

At the end of October, Stoyanov attended the sixth edition of the Future Investment Initiative conference in Riyadh. He conferred with Saudi Arabia's Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef and it emerged at the meeting that Saudi companies are interested in investing in the field of mining, energy, industry - in particular in Bulgarian dairy products, including discussing the possibility of obtaining a license for their production on their territory.