https://arab.news/j62ft
RIYADH: Saudi Arabia’s mining sector is poised to receive a significant boost as Saline Water Conversion Corp. is set to sign several agreements during the upcoming Future Minerals Forum in Riyadh.
The Kingdom’s state-owned water desalination company seeks to enter into partnerships with various local and global companies and academic institutions, according to a press release issued on Monday.
These collaborations will help contribute to SWCC’s strategic efforts to enhance sustainable mining practices in the Kingdom.
A key aspect of these deals will be enabling companies to invest in the innovative field of salt reject mining, which involves extracting minerals and reproducing desalinated water efficiently and cost-effectively.
The likely deals include a notable collaboration for investment with top-tier Chinese companies, aligning with SWCC’s vision of leveraging international expertise and technology.
These joint ventures with global and local entities, such as China’s Ningxia TB, the JSG Alliance, and the Saudi Investment Recycling Co., focus on the collaborative development of investment opportunities, enhancing local content, and empowering national industries.
Furthermore, SWCC anticipates that the projected investment in regional brine mining from desalination systems is expected to reach SR8 billion ($2.1 billion) by 2030.
Correspondingly, the firm’s revenues are expected to hit SR1 billion, with a substantial contribution of SR1.5 billion to the gross domestic product in the same year.
The Future Minerals Forum, to be held under the patronage of King Salman, will see SWCC play a pivotal role as a strategic sponsor.
The corporation will showcase its initiatives, projects, and breakthrough technologies in salt reject mining and mineral extraction.
The forum will also serve as a platform for SWCC to discuss innovative solutions for maximizing the benefits of by-products from the water desalination industry, focusing on sustainable and environmentally friendly techniques that support the circular economy.
Moreover, the company’s exhibition pavilion will highlight its achievements in enhancing the value of desalination by-products, projecting its commitment to supporting supply chains across various industries.
These efforts resonate with the objectives of Saudi Vision 2030, aiming to develop a diversified industrial sector that bolsters the national economy’s growth and sustainability.