New Global Tool Launched by Future Minerals Forum to Measure Mineral Investment
The global race for critical minerals has just gained its most important navigational tool. On the opening day of the Future Minerals Forum (FMF) in Riyadh, a landmark initiative was unveiled: the FMF Barometer. This first-of-its-kind platform is set to become the definitive measure for tracking the development of mineral value chains across the vast and resource-rich “Super Region” of Africa, Western Asia, Central Asia, and Latin America.
In an era defined by the urgent transitions to electric mobility, renewable energy, and advanced digital infrastructure, securing a responsible supply of minerals like lithium, cobalt, copper, and rare earth elements is a paramount global challenge. The FMF Barometer, developed in collaboration with McKinsey & Company and a coalition of industry experts, answers the pressing need for clarity. It establishes the world’s first comprehensive baseline to assess how governments, companies, and investors are building the resilient and ethical supply chains our future demands.
Why This Barometer Matters
As Saudi Vice Minister of Industry and Mineral Resources for Mining Affairs, Khalid Al-Mudaifer, stated, this tool benchmarks the readiness of critical mineral ecosystems amid surging demand. It moves the conversation from speculation to data-driven strategy. By integrating hard market data, stakeholder sentiment, project-level evidence, and expert intelligence into a single platform, it provides an authoritative pulse check for the entire global minerals sector.
The initial data reveals telling trends. In the first three quarters of 2025, a striking 74% of the approximately $30 billion in global mining mergers and acquisitions was concentrated in Latin America—a region where deal value has skyrocketed over 200% since 2021. In stark contrast, Africa’s mining deal value plummeted by 79% in the same period. This divergence highlights a stark gap: while the Super Region holds over half of the world’s critical mineral reserves, it attracts the lowest exploration expenditure, underscoring a dramatic mismatch between mineral endowment and capital allocation driven by risk perception.
The Engine Behind the Metrics: The Future Minerals Framework
The Barometer is powered by the Future Minerals Framework, a strategic blueprint crafted with input from 47 global experts. This framework outlines the pathway to sustainable value chains—from exploration and mining to processing and advanced manufacturing—emphasizing coordinated action between governments, industry, and local communities.
Industry leaders at the forum underscored the undeniable centrality of mining. Robert Friedland, founder of Ivanhoe Mines, captured the essence: “You cannot decarbonize, compute, or transmit without mining.” This sentiment was echoed by CEOs like Anglo American’s Duncan Wanblad, who projected a need for roughly 60 new copper mines in the coming decade, and Vale’s Gustavo Pimenta, who linked mining directly to a sustainable future combining economic development with environmental and social responsibility.
A Gathering of Global Decision-Makers
The launch at FMF 2026 is fitting. The forum itself has become the world’s foremost convening point on minerals, this year drawing 18,000 participants from 165 countries, including 89 government delegations. The accompanying ministerial roundtable, focusing on “Minerals for a new era of development,” aims to set the global agenda through tangible initiatives like establishing international standards, creating centers of excellence, and developing infrastructure corridors.
The Road Ahead
The FMF Barometer is more than a report; it is a call for informed action. It will track the shifting landscapes of risk, investment, and progress, offering companies a strategic roadmap and providing policymakers with the insights needed to foster stability and growth. In championing this tool, Saudi Arabia and the FMF community are advocating for transparency and collaboration, ensuring that the minerals powering our shared future are developed in a way that unlocks long-term prosperity for both producing and consuming nations.
The message from Riyadh is clear: building the foundation for a new industrial era requires not just resources, but reliable intelligence. With the FMF Barometer, the world now has a critical instrument to guide the way.
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