Industry and Mineral Resources Minister Issues Decisions to Allocating 54 Mining Reserve Sites in the Kingdom

Friday 1441/9/1 - 2020/04/24
  • Share on Google+

Riyadh, April 23, 2020, SPA -- The Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef has issued 7 decisions related to the largest allocation process for mining reserve sites in the Kingdom, including 54 sites with an area of approximately 4000 km2, in light of the aspirations of the leadership to develop the mining sector within the Kingdom’s Vision 2030.
These sites are distributed in the regions of Riyadh, Makkah, Madinah, Asir, Hail and Najran, where 12 sites were allocated to gold ore, 12 sites for copper ore, 9 sites for rare earth elements, 7 sites for silver ore, 5 sites for zinc ore, 3 sites for lead ore, two sites for iron ore, two sites for quartz ore, one site for tin ore and one site for molybdenum ore.
By identifying these mining sites in various regions of the Kingdom, the Ministry could achieve a number of goals, including providing the attractive investment environment, providing the data needed by the private sector in this field, and offering opportunities for local and international companies to invest in the utilization of mineral resources.
The Saudi Geological Survey plans to start detailed exploration of the aforementioned mining reservoirs and conduct many detailed studies on it and then make modeling for them and calculate the mineralized sources for each reservoir and site to be presented later as investment opportunities.
01:55 LOCAL TIME 22:55 GMT