Canada was one of many countries to send delegates to this year’s Future Minerals Forum (FMF) in Riyadh, Saudi Arabia. Speaking to Mining.com.au on the sidelines of the event, Parliamentary Secretary to the Minister of Energy and Natural Resources Claude Guay MP says FMF comes at a time when Canada has a renewed focus on mining “and the whole world has a renewed focus on critical minerals”.
It also comes as delegates from around the world form consensus that global collaboration in mining is no longer optional but an urgent necessity.
“Canada has a lot of what the world needs,” Guay tells this news service.
He says Canada’s mining sector is a major contributor to the country’s GDP, creating thousands of jobs, and a resilient supply chain.
“Canada has a lot of what the world needs”
Canada holds vast mineral reserves. The mining sector directly or indirectly provides about 711,000 jobs and represents 5.9% of the Canadian economy.
More than 500 major projects have since late 2024 been under construction or planned over the next decade in the energy, forest, and mining sectors, which have a combined potential capital value of C$632.6 billion ($707.4 billion). This is an increase from 2023 when 493 projects and capital value C$570.5 billion was recorded.
In the 2024 inventory, there were about 140 mining projects with a combined value of C$117 billion, as previously reported by this news service.
Echoing the sentiments of FMF’s fifth Ministerial Roundtable, Guay says there has never been a more crucial time than now for the world to align and collaborate in the resources sector.
“The geopolitical forces that are going on, there are sometimes manipulations on the market,” he says, adding that some countries are implementing exclusionary policies which are “not good for the world in general”.
“At least it’s Canada’s position that the world has to work together. We’re very much in line and like-minded with the results of the conference, that it benefits the world that we all work together,” Guay explains to Mining.com.au.
“A lot of the discussion I’ve had (at FMF), even with the Saudi Government, because they’re very like-minded with us, in believing that we can complement in so many ways, contribute best practises to each other’s, and optimise the supply chains. But also in a way that it’s resilient to all these geopolitical tensions.”
milestone in global cooperation on minerals
The Saudi Government used the Ministerial Roundtable to reiterate its focus on ensuring local value is maximised across multiple industries that will aid in long lasting value.
The roundtable marks a milestone in global cooperation on minerals, reinforcing the shift toward more responsible, resilient, and sustainable mineral supply chains worldwide, as reported.
Guay notes that much like Australia, minerals and metals are produced in every province and territory but just four in Canada account for more than 75% of the total value of total production – Ontario, Québec, British Columbia, as well as Newfoundland and Labrador.
The Government of Canada reports around 70 mining projects in 2025 would process or extract some form of critical minerals, worth C$72.4 billion in potential investment. Of these projects, 36 were valued at C$41.7 billion and were to extract or process copper, nickel or lithium, three key components of EV batteries.
According to the Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef, the roundtable discussion has become a defining moment for what is now the largest global ministerial gathering of its kind.
Al-Khorayef says participation has expanded markedly since the launch of the roundtable and FMF in 2022, from 32 governments to ministers and senior representatives from more than 100 countries, alongside almost 60 international organisations. This includes all G20 member states, supplier countries, and consumer nations.
The minister adds that this broad participation reflects the growing recognition that mineral supply is a shared global responsibility requiring coordinated, inclusive solutions.
FMF is organised by Saudi Arabia’s Ministry of Industry and Mineral Resources and took place from 13-15 January 2026. Mining.com.au had a team on the floor at the King Abdulaziz International Conference Centre and was also an official media partner.
Claude Guay is a Canadian politician from the Liberal Party of Canada. He was elected Member of Parliament for LaSalle-Émard-Verdun in the 2025 Canadian federal election.
Write to Adam Orlando at Mining.com.au
Images: Mining.com.au
