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JEDDAH: ������Ƶ and the US are set to strengthen mining ties as the Kingdom’s industry minister met the US energy secretary to explore joint opportunities in critical minerals and supply chains.

Bandar Alkhorayef held a bilateral meeting with Chris Wright to discuss ways of enhancing mining cooperation during his official trip to the US. The meeting was attended by Saleh Al-Sulami, CEO of the National Industrial Development Center, along with several officials from both sides, according to a statement by the Ministry of Industry and Mineral Resources.

The two officials underscored the importance of strengthening collaboration to support critical mineral supply chains, which are witnessing increasing global demand. They also agreed to bolster critical minerals cooperation to enhance global supply chain resilience.

The talks come as ������Ƶ’s Vision 2030 seeks to expand its mining sector, valued at SR9.4 trillion ($2.5 trillion), and diversify its economy beyond oil and become a global hub for critical minerals.

“At the beginning of my official visit to the US, I met with His Excellency the US Secretary of Energy, and we discussed ways to enhance cooperation between our two countries in the industrial and mining sectors, in addition to exchanging technical knowledge and expertise, in a manner that contributes to supporting the global industrial transformation and the sustainability of supply chains,” Alkhorayef said in a post on his X account.

The meeting was held within the framework of a memorandum of cooperation signed in May between the Saudi Ministry of Industry and Mineral Resources and the US Department of Energy on the sidelines of the Saudi-US Investment Forum in Riyadh.

Alkhorayef emphasized the Kingdom’s commitment to improving the investment environment for mining, enhancing its attractiveness, and simplifying regulatory procedures as part of ongoing efforts to explore and exploit mineral resources and maximize their contribution to economic diversification.

Wright highlighted ������Ƶ’s significant role and influence in the global mining sector, stressing the importance of strengthening international cooperation, expanding public-private partnerships, and accelerating the adoption of advanced mining technologies to foster sustainable growth.

The meeting also highlighted the Future Minerals Forum that the Kingdom annually hosts, which serves as a global platform for decision-makers, non-government organizations, and investors, as well as mining technology companies and research institutions to develop innovative solutions for sector challenges and promote sustainability.

Alkhorayef invited Wright to participate in the fifth edition of the event, scheduled to be held in the Saudi capital from Jan. 13 to 15 2026.

During his visit, the Saudi minister toured the Research Triangle Park in North Carolina, which also included the SAS Institute for Artificial Intelligence, the Center for Additive Manufacturing and Logistics, and the Energy X Laboratory for Clean Energy Solutions. 

Alkhorayef also held a meeting with the US minister of commerce in North Carolina, during which they discussed prospects for industrial integration, attracting quality investments, and enabling access for Saudi non-oil exports to US markets.

RIYADH: Education spending in ������Ƶ surged 132.1 percent to SR1.03 billion ($275.2 million) for the week ending Aug. 23, helping to keep total point-of-sale transactions above the SR13 billion mark.

The sector was responsible for the third largest share of this week’s POS value and recorded a 47.8 percent increase in the number of transactions, reaching 270,000. 

Education was one of only three sectors that saw positive change across the seven days, with the total POS value seeing a weekly drop of 0.5 percent to stand at SR13.41 billion.

The relatively small fall underscores the resilience of consumer activity across the Kingdom, according to data from the Saudi Central Bank. 

Another sector to post an increase was recreation and culture, up 5.6 percent in value terms, although the weekly bulletin showed the two subcategories in that metric registered contrasting fortunes.

Expenditure on books and stationery grew in both value and volume, with spending up 34.5 percent to SR165.14 million, and the number of transactions increasing 40.2 percent to 948,000.

Outlays on recreation dropped by 11.3 percent to SR185.96 million.

The largest percentage decrease across the seven days came in the airlines subcategory, with the value of transactions dropping by 15.8 percent to SR41.82 million. Spending on hotels followed, falling by 14.5 percent to SR272.12 million. 

Gas stations saw a 5.9 percent decrease to come in at SR936.40 million.

Food and beverages, the sector with the biggest share of total POS value, recorded a 5.2 percent decrease to SR1.78 billion, while the restaurants and cafes cohort saw an 8.4 percent drop, totaling SR1.55 billion and claiming the second-biggest share of this week’s POS. 

The top three categories accounted for approximately 32.52 percent of the week’s total spending, amounting to SR4.36 billion.

Spending on transportation and health both saw 6.2 percent drops, to SR972.18 million and SR793.94 million, respectively. Small decreases were seen in spending on furniture and construction materials at 3.1 percent and 2.5 percent to SR448.26 million and SR389.29 million, respectively.

Geographically, Riyadh dominated POS transactions, with expenses in the capital reaching SR4.90 billion, a 6.8 percent increase from the previous week. 

Jeddah followed despite a 2.5 percent dip to SR1.77 billion, while Dammam ranked third, up 6.9 percent to SR671.80 million.