RIYADH: Saudi Arabia is well-positioned to play an “enormous and constructive role” in shaping investment agendas within the mining sector, according to the CEO of Eurasian Resources Group. While participating in a panel at the Future Minerals Forum alongside Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and multiple CEOs from the sector, Benedikt Sobotka emphasized that the Kingdom’s long-term vision and approach to investment are crucial in an industry often characterized by a need for instant gratification. He noted that investors are typically cautious about entering the mining and minerals landscape as they often prefer not to operate in new regions, “when they’re happy with operating in Canada and Australia.” According to the executive, Saudi Arabia’s history of futuristic thinking and capital incentives makes it ideally positioned to attract investments both within the Kingdom and globally. This is particularly relevant in an industry that is prone to long-term investment cycles. “I think the tectonic shift that has taken place in the perception of Saudi Arabia as a center of the super region is quite astounding. And we’re very proud to be a little part of this. I mean, we do exploration here and we also bring some of the most advanced technologies to this region for trying it out because mining is about technology,” Sobotka said. The CEO stated that only very few individuals possess the courage and the investor base supporting a channel with the necessary long-term investment thinking for success in new jurisdictions. “I think the Kingdom can play such an enormously constructive role in shaping this agenda. And this is where Manara I think, and the PIF (Public Investment Fund) has really made a nice mark,” he added. Echoing the notions posed by the CEO, Vale Base Metals Chairman Mark Cutifani affirmed the importance of reshaping the negative narrative surrounding mining to catalyze investment. The industry, often viewed as a polluter, has a “net positive environmental footprint,” according to Cutifani. The mining sector’s role as a leader in the energy transition has made it clear that the right energy structures and processes are being utilized to support the planet and ensure the protection of biodiversity, he added. “Unfortunately, from our point of view, it’s the 2 percent bad stories that are used to characterize who we are. It’s not about the 98 percent, and the fact that we make the world work is the story that doesn’t get out there. So, we’ve all got to do a better job in pulling those pieces together," the chairman said. He added: “For me, that’s the key message about how we can support countries to develop investment in the material sector — when we frame it as it’s about us providing the materials that make the world work. That’s who we are.”