Cloud technology set to transform Saudi Arabia’s mining industry, says Ma’aden executive 

Cloud technology set to transform Saudi Arabia’s mining industry, says Ma’aden executive 
For the first time, the annual CloudWorld Tour, typically held in Las Vegas, is being hosted in Riyadh. Supplied
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Updated 20 January 2025
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Cloud technology set to transform Saudi Arabia’s mining industry, says Ma’aden executive 

Cloud technology set to transform Saudi Arabia’s mining industry, says Ma’aden executive 

RIYADH: Saudi Arabia’s mining industry is set for a major transformation, driven by the rapid adoption of advanced technologies such as cloud computing, according to a senior executive. 

In an interview with Arab News on the sidelines of the Oracle CloudWorld Tour Riyadh event, Abdullah Al-Osaimi, senior vice president of procurement and business support at Ma’aden, emphasized the critical role of cloud technology in the future of mining operations. 

“I think the nature of mining is one of the industries that is going to be heavily dependent on Cloud,” Al-Osaimi said. 

He added: “You are exploring unknown territories that do not even have any population. It’s in the remote areas. This is where most of the minerals and discoveries we have.” 




Abdullah Al-Osaimi, senior vice president of procurement and business support at Ma’aden. Supplied

Al-Osaimi highlighted the unique challenges faced by the sector, particularly in exploration activities conducted in less inhabited areas. 

“If you don’t incorporate a cloud strategy, operating in such environments will be extremely difficult,” he said.  

“Cloud solutions, along with mobility and edge computing, are crucial for achieving faster and more accurate exploration and production results.” 

With Saudi Arabia’s Vision 2030 strongly emphasizing mining as a key economic driver, Ma’aden is aggressively adopting new technologies to support its ambitious growth plans. 

“We are planning to grow tenfold by 2040. Very few companies in the world have such an aggressive growth strategy,” said Al-Osaimi. 

He continued: “To achieve this, we are focusing on scalability, cost-effectiveness, and operational efficiency through advanced cloud-based solutions.” 

Al-Osaimi also emphasized Saudi Arabia’s commitment to integrating advanced technologies into its development strategy, highlighting the country’s proactive approach to adopting and experimenting with innovations, even relatively new ones globally. 

“We are keeping this in the heart of our strategy. We are pushing so hard in every single technology. We are even testing technologies that are very new in the world. We are bringing it here in Saudi Arabia,” Al-Osaimi said. 

He continued: “One of our main objectives is to localize these technologies, not only test them but also bring them here in Saudi Arabia, so they will grow from Saudi Arabia, not just we use them and that’s it. We are bringing these technologies, we are investing in them, and we are growing them with us.” 

Al-Osaimi pointed out that cloud technology offers mining companies the flexibility to analyze vast amounts of exploration data in real time, reducing the traditional timeline of discovering and processing mineral resources. 

“In the mining sector, it usually takes around 15 years to go from exploration to full production. Our goal is to reduce that to at least half by adopting new technologies,” he said. 

Al-Osaimi added: “AI is one of the key technologies we are adopting. It is not just a buzzword; it is an essential tool that helps us enhance productivity and accuracy.” 

He further explained that technology adoption in mining is not just about implementing systems but also about ensuring data quality and developing the right skillsets among employees. 

Talking to Arab News, the managing director and country leader for Oracle Saudi Arabia, Reham Al-Musa, underlined the company’s commitment to the Kingdom’s digital economy, stating: “Our CEO Safra Catz announced an investment of $1.5 billion to expand cloud capacity in Saudi Arabia during her visit two years ago.” 




Reham Al-Musa, managing director and country leader for Oracle Saudi Arabia. Supplied   

Al-Musa continued: “Oracle was the first cloud provider to open a data center in the Kingdom in 2021, starting in Jeddah, followed by a second region in NEOM and a third in Riyadh, which went live a few months ago.” 

She also underlined that Saudi Arabia aims to become a hub for artificial intelligence, and Oracle is supporting this goal by providing technology that integrates generative AI and other capabilities. 

“Cloud is the future, and it will come like for everyone. However, there is a regulated industry that they cannot go to the public cloud,” Al-Musa said. 

She continued: “We have the capability to build the sovereign cloud, and this is what we did and announced with stc, stc alloy, so this is providing an extra layer of security to give the privilege for the regulated industry to utilize the benefit of the cloud and the latest technology on the cloud.” 

In April 2024, Oracle and Saudi Telecom Co. launched sovereign cloud services in the Kingdom, using Oracle Alloy to help accelerate Saudi Arabia’s digital transformation with over 100 Oracle Cloud Infrastructure services for public sector and enterprise customers. 

During the event, Oracle celebrated 30 years of supporting the nation’s digital transformation. 

For the first time, the annual CloudWorld Tour, typically held in Las Vegas, is being hosted in Riyadh. 

“Bringing the CloudWorld Tour to Riyadh for the first time in our 30th year in the Kingdom underscores our commitment to empowering Saudi organizations with cutting-edge cloud and AI technologies,” Al-Musa said during the opening remarks. 

The event highlights how Oracle will help customers maximize the benefits of its cloud solutions, and the new data centers the company has opened in Saudi Arabia. 

Oracle also announced that the Al-Madinah Development Authority achieved a significant milestone by implementing the Oracle Fusion cloud applications suite. 

 


PIF’s SIRC, Germany’s Concord Blue to launch first phase of sewage to renewable hydrogen station

PIF’s SIRC, Germany’s Concord Blue to launch first phase of sewage to renewable hydrogen station
Updated 06 February 2025
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PIF’s SIRC, Germany’s Concord Blue to launch first phase of sewage to renewable hydrogen station

PIF’s SIRC, Germany’s Concord Blue to launch first phase of sewage to renewable hydrogen station
  • Both parties will offer innovative solutions that contribute to environmental sustainability and promote the circular carbon economy
  • Plan will see around 100 million tonnes of waste recycled annually

RIYADH: A new agreement between the Saudi Investment Recycling Co. and the German company Concord Blue will lead to the construction of a station in the Kingdom that converts sewage into renewable hydrogen.

The Public Investment Fund firm inked the memorandum of understanding with the engineering company for the first phase of the development, whereby the plant will use Concord Blue Reformer technology to develop sludge treatment projects resulting from sewage and other organic waste, according to a statement.

Concord Blue Reformer’s non-combustion reforming process uses the principles of staged reforming to efficiently and cleanly recycle waste into energy.

This falls in line with SIRC’s goal of actively leading the charge in implementing impactful waste reduction strategies, accelerating the widespread adoption of renewable energy solutions, and championing the principles of environmental justice.

It also aligns with the comprehensive plan announced by the Kingdom’s Ministry of Environment in January 2024, which targets recycling a significant portion — up to 95 percent — of the country’s waste.

“Under this memorandum, SIRC will provide sewage and agricultural waste as raw materials, while Concord Blue will convert this waste into renewable hydrogen, in addition to transferring knowledge in this field and training national cadres to build, operate and maintain facilities for converting waste into hydrogen,” said Faisal Al-Solami, executive vice president of finance and strategic planning at SIRC.

When fully implemented, the plan will see around 100 million tonnes of waste recycled annually, showcasing the nation’s commitment to sustainability.

Under the terms of the newly signed MoU, both parties will offer innovative solutions that contribute to environmental sustainability and promote the circular carbon economy by producing high-quality green hydrogen and manufacturing biochar and industrial-activated coal. 

Al-Solami said signing the agreement is a key step toward achieving Vision 2030’s recycling and sustainability goals, as it promotes environmentally friendly energy solutions from waste, reduces emissions, and supports an eco-conscious economy.

This comes as the first phase of the project will achieve several goals, including reducing the volume of waste sent to landfills, enhancing hydrogen production on a large scale, and developing innovative solutions to reduce carbon emissions.

It will also support local manufacturing projects and contribute to achieving a zero-carbon future by producing clean fuel that supports the transition to a hydrogen economy in the industrial and transportation sectors.


Closing Bell: Saudi main index edges up to close at 12,433

Closing Bell: Saudi main index edges up to close at 12,433
Updated 06 February 2025
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Closing Bell: Saudi main index edges up to close at 12,433

Closing Bell: Saudi main index edges up to close at 12,433

RIYADH: Saudi Arabia’s Tadawul All Share Index edged up on Thursday, gaining 19.18 points, or 0.15 percent, to close at 12,433.58. 

The total trading turnover of the benchmark index was SR6.88 billion ($1.83 billion), as 123 of the listed stocks advanced, while 96 retreated.  

The MSCI Tadawul Index increased by 2.23 points, or 0.14 percent, to close at 1,545.99. 

The Kingdom’s parallel market Nomu also rose, gaining 135.68 points, or 0.43 percent, to close at 31,386.27. This comes as 40 of the listed stocks advanced, while 39 retreated. 

The best-performing stock was Almasane Alkobra Mining Co., with its share price surging by 7.49 percent to SR68.9. 

Other top performers included the Thimar Development Holding Co., which saw its share price rise by 5.76 percent to SR56.9, and Makkah Construction and Development Co., which saw a 4.42 percent increase to SR108.60. 

Mutakamela Insurance Co. saw the largest decline of the day, with its share price dropping 2.19 percent to SR18.72. 

The Tanmiah Food Co. saw a decline of 1.99 percent, with its share price dropping to SR127.80, while the Saudi Industrial Investment Group fell by 1.69 percent to SR17.40. 

On the announcements front, Saudi Industrial Investment Group reported its annual financial results for 2024, with net profits reaching SR11 million, matching the previous year’s figure. 

Saudi Arabian Mining Co., known as Ma’aden, also announced the official launch of its US dollar-denominated trust certificates offering.

The offering is available to eligible investors both in Saudi Arabia and internationally, as part of Ma’aden’s strategic initiative to strengthen its financial position and expand investment opportunities. 

To facilitate the issuance, Ma’aden has appointed 10 companies as joint lead managers for the transaction, including Citigroup Global Markets Limited, HSBC Bank, Al Rajhi Capital Co., BNP Paribas, and GIB Capital.

The other five include J.P. Morgan Securities plc, Natixis, Saudi Fransi Capital, SNB Capital Co., and Standard Chartered Bank. 

In a statement to Tadawul, the company stated that the sukuk will be issued in two tranches, with maturities of 5 and 10 years. The minimum subscription amount is set at $200,000, with the final value and terms of the offering to be determined based on market conditions. 

Following the announcement, Ma’aden’s shares closed at SR48.15, up 4.05 percent in today’s session. 


Saudi crown prince launches ‘King Salman Automotive Cluster’ at KAEC

Saudi crown prince launches ‘King Salman Automotive Cluster’ at KAEC
Updated 06 February 2025
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Saudi crown prince launches ‘King Salman Automotive Cluster’ at KAEC

Saudi crown prince launches ‘King Salman Automotive Cluster’ at KAEC

RIYADH: Saudi Crown Prince Mohammed bin Salman has named the automotive manufacturing hub within King Abdullah Economic City the “King Salman Automotive Cluster,” the Saudi Press Agency reported on Thursday.

The King Salman Automotive Cluster will serve as a pivotal center for the automotive industry, housing the headquarters and manufacturing facilities for both local and international companies.

Notable brands, such as Ceer—the first Saudi electric vehicle brand—and Lucid Motors, which opened its first international factory in KAEC in 2023, are set to be key players in the cluster.

The site will also host multiple Public Investment Fund joint ventures with global manufacturers, including a highly automated factory with Hyundai Motor for car production in Saudi Arabia and a partnership with Pirelli to establish a tire factory.

This new cluster marks a significant milestone in Saudi Arabia’s economic diversification efforts, supporting the development of the automotive sector and advancing sustainable transportation. It will contribute to boosting the non-oil gross domestic product and increasing exports.

The King Salman Automotive Cluster will accelerate local manufacturing capacity, promote research and development, and optimize supply chains, making them more efficient for both regional and international markets.

The project is expected to create numerous investment opportunities for the private sector, fostering the growth of promising industries within the Kingdom.

By 2035, the cumulative GDP contribution from companies within the cluster is projected to reach approximately SR92 billion.

The cluster will generate thousands of direct and indirect jobs, support local manufacturing, and boost Saudi exports, positively impacting the nation’s balance of payments.

Leveraging KAEC’s robust infrastructure and its strategic location near a well-developed port, the cluster offers significant advantages for both local private sector entities and international companies. These factors will provide ample opportunities for collaboration between partners, suppliers, and investors within the automotive industry and related sectors.

The King Salman Automotive Cluster will play a key role in advancing the National Industrial Development and Logistics Program, which aims to position Saudi Arabia as a leading industrial hub and global logistics center by fostering high-growth sectors and attracting foreign investment.


Saudi Arabia takes steps to strengthen personal data protection

Saudi Arabia takes steps to strengthen personal data protection
Updated 06 February 2025
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Saudi Arabia takes steps to strengthen personal data protection

Saudi Arabia takes steps to strengthen personal data protection

RIYADH: Saudi Arabia’s financial sector is set to benefit from enhanced data protection measures following the signing of two agreements between the Saudi Data and Artificial Intelligence Authority and the Saudi Central Bank. 

The agreements, signed on Feb. 5 and 6, aim to bolster the implementation of personal data protection laws across financial institutions, enhancing regulatory oversight and ensuring compliance with national data governance standards. 

The first memorandum of understanding focuses on enforcing personal data protection laws and their executive regulations within the financial sector.  

It seeks to strengthen supervision of financial institutions’ adherence to data protection requirements, thereby supporting the Kingdom’s broader digital economy goals.   

The move comes as Saudi Arabia accelerates its financial technology transformation, with a goal to raise non-cash transactions to 80 percent of total payments by 2030, up from 62 percent today.   

The first agreement was signed by Abdulaziz Al-Anazi, director of the General Department of Risk and Compliance at SDAIA, and Marwan Al-Lahedan, executive director of Operational Sustainability Oversight at SAMA.  

According to the agreement, the initiative will also promote collaboration in monitoring mechanisms, fostering an environment of secure and efficient data management.   

The second MoU, finalized on Feb. 6, will enhance the governance framework for data within the financial sector. This agreement will help advance Saudi Arabia’s digital infrastructure, creating a regulatory environment that supports data protection across the financial landscape.  

Both agreements were signed in the presence of high-level representatives, including Khaled Al-Dhaher, deputy governor for supervision and technology at SAMA, and Rayed Al-Rayedi, head of the National Data Management Office at SDAIA.    

The effort underscores the Kingdom’s commitment to strengthening its regulatory ecosystem to protect personal data and foster innovation in the financial industry.   

The surge in technological upgrades within financial institutions and the entry of new fintech startups underscore the need for rigorous data protection protocols to secure consumer information and prevent fraud.  

According to the World Bank, fraud in the financial sector leads to substantial global losses. In 2023, online fraud resulted in approximately $485.6 billion in losses worldwide.   

The increasing sophistication of fraudulent schemes poses substantial challenges to financial institutions and their clients.    

Fraudsters use advanced techniques, including phishing, identity theft, and cyberattacks, to exploit vulnerabilities within financial systems. This not only leads to direct financial losses but also erodes consumer trust in financial services.  


Hungarian firms plan major tech investment in Saudi Arabia under Vision 2030

Hungarian firms plan major tech investment in Saudi Arabia under Vision 2030
Updated 06 February 2025
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Hungarian firms plan major tech investment in Saudi Arabia under Vision 2030

Hungarian firms plan major tech investment in Saudi Arabia under Vision 2030
  • Trade between Saudi Arabia and Hungary reached $480 million in 2023
  • Hungary has maintained diplomatic ties with Saudi Arabia for over 28 years

RIYADH: An alliance of 25 Hungarian companies is preparing to invest in Saudi Arabia’s technology and digital transformation sectors, seizing the opportunities offered by Vision 2030. 

The announcement, made at the Saudi-Hungarian Business Forum in Riyadh organized by the Federation of Saudi Chambers, underscored the growing economic ties between the two nations, the Saudi Press Agency reported. 

The forum was attended by Hungarian Parliament Deputy Speaker Istvan Jakab, Saudi-Hungarian Business Council Chairman Marwan Al-Mutlaq, Shoura Council Chairman Ibrahim bin Mohammad Al-Qannas, and Hungarian Ambassador to Saudi Arabia Balazs Selmeci.

The initiative builds on the creation of the Hungarian-Saudi Holding Co. last year, a consortium focused on digital transformation and investment partnerships across Saudi Arabia’s digital, financial, and food sectors.

Trade between Saudi Arabia and Hungary reached SR1.8 billion ($480 million) in 2023, reflecting a 27 percent increase, with the Kingdom’s exports surging 216 percent to SR584 million and imports at SR1.2 billion.

Jakab highlighted the strength of Hungary’s relationship with Saudi Arabia, saying: “The relationship with the Shoura Council and the Federation of Saudi Chambers is strong,” and emphasized the potential of the holding company to foster investment and collaboration in key sectors.

Al-Mutlaq noted Saudi Arabia’s growing influence in the tech sector, ranking fourth globally in e-government and tenth in e-commerce. 

He added that the Saudi-Hungarian Business Council, in its new term, will focus on strengthening investment partnerships and boosting bilateral trade.

Hungary has maintained diplomatic ties with Saudi Arabia for over 28 years, contributing to ongoing bilateral cooperation. The country’s advanced IT sector presents opportunities to share expertise with Saudi Arabia’s growing technology landscape.

As part of Saudi Arabia’s Vision 2030 plan, the country is making substantial investments in digital transformation, focusing on emerging technologies such as artificial intelligence, cloud computing, and the Internet of things to build a significant digital economy by 2030. 

Government spending on technology is expected to reach $24.7 billion by 2025, according to a report published by the International Trade Administration. 

Key initiatives include the Public Investment Fund backing advanced tech firms like Alat, which focuses on AI, semiconductors, and robotics, with projected investments of around $100 billion by 2030.