Riyadh replaces Khalid al-Falih as chair of mining company | Financial Times:
Saudi Arabia has appointed Yasir al-Rumayyan, head of the country’s sovereign wealth fund, as chairman of Ma’aden, the state mining company, replacing Khalid al-Falih, the former energy minister.
The move is another sign of Mr Falih’s waning influence and the rise of Mr Rumayyan, a close ally of Crown Prince Mohammed bin Salman and governor of the Public Investment Fund.
Mr Falih was one of the kingdom’s highest-profile technocrats. But his fall from grace began last month when he was stripped of his role overseeing industry and mining policy. He was then replaced by Mr Rumayyan as chair of Saudi Aramco, the state oil company, which is being prepared for an initial public offering.
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