15 Dec Mining complexes in Saudi Arabia reach 360 ahead of Future Minerals Summit
The number of mining complexes in Saudi Arabia has reached 360, according to latest data released by the Saudi Ministry of Industry and Mineral Resources.
The ministry said these mining complexes extract gold, copper, zinc, aluminum, magnesium, iron, silica, gypsum, limestone, clay and various other industrial materials including limestone ore, bauxite and phosphate ore.
The report, which arrives as the Kingdom launches a huge database to channel more investments into the sector, also said Saudi Arabia has 70 reserves sites for mining activities.
The Saudi Geological Survey has announced 54 locations for exploration, with more to be revealed in the coming months that will be auctioned to investors.
The National Geological Database is being created to allow investors to find the locations of mineral deposits, in a bid to increase the transparency and competitiveness of the sector in Saudi Arabia.
The Kingdom has already attracted major international investors, including US firm Alcoa Corp, which has a 25.1% stake in Ma’aden Bauxite and Alumina Co. and Ma’aden Aluminium Co., as part of US$10.8 billion joint venture with Saudi miner Ma’aden.
The Future Minerals Summit – an international initiative dedicated to advancing mining investment in the Middle East and North Africa – is due to take place in Riyadh over January 11-13.