Saudi Arabia invests $50 billion in mining

November 27, 2012

Saudi Arabia’s total investments in mining amount to approximately $50 billion, and the Kingdom has granted 1,700 mining licenses to explore mineral resources on 73,000 square kilometers of land. These statistics were reported by Minister of Petroleum and Mineral Resources Ali bin Ibrahim Al-Naimi at the 12th International Arab Conference on Mineral Resources in Khartoum today. The Petroleum Minister described the Kingdom’s pioneering efforts in the field of mining, which have been made possible by huge government projects, including the Ras Al-Khair Mining City. The efforts to develop the mining sector, under the leadership of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz, have contributed to the Kingdom’s economic diversification and its reduced dependency on foreign ores.

During his visit, Al-Naimi met with many Sudanese officials, including Minister of Mining Kamal Abdullatif and Minister of State of the Ministry of Human Resources Development Ahmed Karamnu.