His Excellency the Deputy Minister of Industry and Mineral Resources for Mining Affairs, Eng. Khaled bin Saleh Al-Mudaifer, inaugurated today the training program for the mining exploration incubator “Nuthree”, in the presence of a number of officials of government agencies and partners from the private sector, at the Enterprise Support Center of the Small and Medium Enterprises Authority.
Al-Mudaifer explained that the launch of the “Nuthree” incubator comes within the framework of the Ministry of Industry and Mineral Resources’ keenness to create a sustainable local exploration environment. To enable emerging individual explorers, local small and medium companies, and investors interested in the mining sector, in line with the objectives of the Kingdom’s Vision 2030 and the National Industry Development Program and Logistics Services; To make the mining sector the third pillar of national industries.
He stated that the Nuthree incubator is the ideal platform for entrepreneurs in the Kingdom to invest in the mining sector. To empower explorers and entrepreneurs, develop their skills, and embrace the largest number of startup companies and support them, in cooperation with the Small and Medium Enterprises Authority “Monshaat” and the Saudi Geological Survey; To be important elements in the development of the mining sector, especially in the field of mining exploration, which is a fertile environment for investment.
In turn, the CEO of the Saudi Geological Survey, Eng. Abdullah bin Muftar Al-Shamrani, stated that through the exploration incubator, sustainable strategic partnerships will be built to promote entrepreneurship in the field of mineral exploration and provide related services. Such as analyzing geological data, exploiting local capabilities, and exchanging information, knowledge, and expertise in the mining sector.
The inauguration ceremony witnessed the signing of a memorandum of understanding by the Ministry of Industry and Mineral Resources with Umm Al-Qura University, which included aspects of cooperation, organizing workshops in the field of mining within the training program of the mining exploration incubator “Nuthree”, and providing training courses in economic feasibility studies and mining resources and reserves, in addition to developing skills. Technical support for explorers in the Kingdom, employing their capabilities in establishing small and medium-sized emerging companies and supporting them with global expertise, contributing to providing the appropriate environment and facilities necessary to support innovation, providing specialized consultations, and exchanging knowledge, experiences and important research results.
The Ministry also signed memorandums of understanding with 8 international and local companies specialized in the mining sector. They are: the Saudi Arabian Mining Company “Ma’aden”, “AMAC Mining Company”, the “DRA Global Company”, “Golden Compass MSA”, “Ajlan and Brothers Mining Company”, “Gold and Minerals Mining Company Limited”. Behre Dolbear Company and Amed Fund Company; This is with the aim of exchanging practical and scientific experiences between the two parties, and contributing to developing the capabilities of explorers in the field of mining exploration, raising technical levels, and providing the necessary support to incubators, by holding training courses related to exploration activities, resources and mining reserves, and developing technical work programs for exploration licenses, in addition to defining Providing explorers with the technical requirements necessary to apply for exploration licenses and developing their skills in this field.
It is noteworthy that the number of applicants for the incubator reached 500 applicants, and 17 candidates passed the acceptance criteria, between companies and individuals, as their training journey is scheduled to begin in the “Nuthree” incubator for a period of 6 months, from this September to February 2024 AD, through a program dedicated to developing their skills. ; To ensure the provision of the necessary knowledge, and to provide them with local and global expertise; To move forward towards achieving a sustainable mining exploration environment in the Kingdom.