Written by via unido.org
RIYADH – Industrial development and the global energy transition both require critical minerals and metals. As a result, demand for minerals like cobalt, nickel, lithium and copper is estimated to increase by 500% by 2050.
To promote a socially responsible and environmentally sound mining sector, UNIDO’s Director General, Gerd Müller, announced the establishment of a “Global Alliance and Partnership for Responsible and Green Minerals”, in cooperation with international partners and the Kingdom of Saudi Arabia, at the Ministerial Roundtable of the Future Minerals Forum in Riyadh. All countries are invited to participate, although initially countries at the forefront of critical minerals mining in Africa, Asia and Latin America will be targeted to join, many of them developing and least developed countries.
In his opening remarks of the Ministerial Roundtable, Müller emphasized that “without critical minerals, there is no green energy transition, no green industrialization”. He highlighted that “a Global Alliance for Responsible and Green Minerals, with binding environmental and social standards for the mining industry and an independent certification system, has advantages for all market participants. It creates a real win-win situation for the countries with the raw materials. It will increase local value addition and production alongside jobs in the mining regions, and hundreds of millions of people, primarily in artisanal and small-scale mining, will benefit from living wages, adherence to fundamental human rights, as well as standards in the sector. Finally, it will help reduce and minimize damage to the environment.”