South32 mulls Saudi exploration, partnerships
Saudi Arabia holds considerable exploration opportunities and globally diversified mining and metals company South32 is watching the space closely for potential prospecting and partnership options in the future, CEO Graham Kerr told Engineering News & Mining Weekly in an interview at the Future Minerals Forum (FMF), held late last month in Riyadh, the kingdom’s capital..
Saudi Arabia is bolstering investment in the mining industry as part of its Vision 2030 to diversify the economy and reduce its dependence on oil.
Saudi Arabia Industry and Mineral Resources Minister Bandar Al-Khorayef announced that the country would this year offer mineral exploration options spanning an area of about 50 000 m2.
Following South32’s participation at FMF 2025, Kerr said that key for the company was determining whether there was an opportunity for exploration in Saudi Arabia, as well as for partnerships outside of it.
Discussions at the FMF highlighted the exploration potential that existed outside of Saudi Arabia as well, with the kingdom’s government and mining companies looking to invest in these.
Kerr said South32 would explore the potential for partnerships in this regard, to assist the company with some of its potential exploration and development projects.
He highlighted that the company was currently running about 25 exploration programmes globally.
“This is our first year attending FMF, and we now have an idea of the opportunities the company could pursue in the future in terms of mutual interest,” Kerr averred, adding that South32 had made several connections it could look to leverage in the future.
He added that the company saw particular potential in copper, with supply gaps expected. Moreover, the FMF also underscored the exploration potential for this in the kingdom, and South32 would be analysing the data around this.
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