2001 News Story

Investment in minerals encouraged

President of the Saudi Arabian Mining Company Ma'aden Abdullah Al-Dabbagh reports that the company is planning to invest more than SR 11 billion [U.S. $2.93 billion] in mineral resources over the next three to five years. Speaking at a seminar in Yanbu on investment in mining, he pointed out that the Kingdom's mining sector provides real incentives to investors, since the privatization process, due to start about 2003, is expected to open up over 5,000 jobs for Saudis within a decade. He urged the private sector to invest without hesitation in the profitable area of mining.