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New Partnerships to Shape Conversations on Sustainable Development in Global Metals and

Minerals at Future Minerals Forum 2024

Riyadh, Saudi Arabia, December 2023: The Future Minerals Forum (FMF), scheduled to

take place 9-11 January in Riyadh, Saudi Arabia, under the patronage of the Custodian of the

Two Holy Mosques, King Salman bin Abdulaziz Al Saud, today announced three new

strategic partnerships to inform the global discourse on minerals and their critical role in

sustainable global development and the need to transition to new energy sources. The new

partnerships with Wood McKinsey, CRU Group, and Global AI will deliver business

intelligence and insights in a series of studies to be published ahead of FMF. They

complement existing partnerships with McKinsey & Company, Payne Institute for Public

Policy, Clareo-DPI and Baker Institute.

Minerals are critical components in the transition to clean energy and are essential for many

of today’s rapidly growing clean energy technologies. Because renewable energy systems

require more minerals than fossil fuel-based energy sources, global demand for minerals is

expected grow to unprecedented levels by 2040 according to a 2021 report by the

International Energy Agency 1 .

As a government-led, multi-stakeholder platform, FMF is committed to fostering resilient

and responsible mineral value chains, particularly in the Super Region that spans Africa,

West and Central Asia. The studies it is commissioning through its partners aim to improve

the understanding of the challenges and opportunities that the energy transition

represents, as well as the role this vast region of the world will play as supplier, processor

and trader of the minerals and metals the world needs.

Wood Mackenzie is embarking on a pivotal study to define the super region’s potential,

identifying key drivers for the creation of robust value chains across this mineral-rich

expanse. This report will serve as a crucial guide for stakeholders in harnessing the region’s

untapped resources and fostering sustainable development.

Global AI is set to conduct a comprehensive global sentiment analysis, focusing on mining

and mineral operations across the Super Region. This analysis aims to shed light on societal

perceptions to inform dialogue on the roles governments, the private sector, and civil

society must play in securing social license to operate, ensuring mining operations deliver

tangible benefit local communities and minimize impact on the environment.

Meanwhile, CRU’s report will highlight the urgency of addressing critical mineral bottlenecks

to meet climate goals, with a focus on the Middle East, Africa, and Central Asia as key future

suppliers.

The studies will add to those produced by FMF’s other partners that cover a range of related

areas including the standardization of environmental regulations, the balance between

sustainability and profitability in energy and materials, supply and value chains, and a critical

minerals projection and outlook.

Together, these insights all align with FMF’s mission to enable the development of

sustainable mineral industries, place the Super Region at the forefront of the global

minerals conversation, and shape responsible mining practices. The forum aims to catalyze

dialogue among industry leaders, policymakers, and stakeholders to drive progress toward a

more sustainable and prosperous future in mineral development.

About the Future Minerals Forum (FMF)

FMF 2024 serves as a global platform for action and a voice for the mineral-rich super region

spanning from Africa through to central Asia, focusing on creating value for local economies

through mineral production and beneficiation. It emphasizes sustainability, technological

innovation, and socio-economic impacts in alignment with the four strategic initiatives

resulting from the FMF Ministerial Roundtable held in January 2023. This includes the

development of a critical minerals’ strategies, standardizing regional ESG practices, creation

of green metals hubs in the super region and establishing centers of excellence.