Ministry of Industry and Mineral Resources Reviews Mining Opportunities with Companies and Investors in France

Thursday 1443/12/1 - 2022/06/30
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Paris, June 30, 2022, SPA -- The Ministry of Industry and Mineral Resources held a meeting with companies and investors in France to review investment opportunities and infrastructure in the industrial and mining sectors, and to introduce the two mining sites; "Umm Al-Damar", and "Muhaddad”. The meeting was attended by the Kingdom’s Ambassador to France Fahd bin Mayouf Al-Ruwaili and the Deputy Minister for Mining Development Musaed bin Abdulaziz Al-Daood.
The meeting touched on the Kingdom’s key investment opportunities, through which Saudi Arabia seeks to make the mining industry a more attractive destination for local and global investments, by adhering to the principles of transparency and compliance as stipulated in the new mining investment regulations. The Ministry also invited the French companies and investors to Riyadh’s Annual International Mining Conference, which is held in January.
The Ministry also briefed the French side on the most important attractive elements for exploration and mining in the Kingdom, and highlighted the mining sites "Umm Al-Damar" and "Muhaddad", in addition to participating in a review of the large-scale capabilities and solid infrastructure that make the Kingdom one of the best investment environments in the mining sector internationally.
The meeting comes as part of the ministry's efforts to underline the great interest that the Kingdom attaches to promoting and attracting quality investments, as the Kingdom aims to exploit mineral wealth estimated at $1.3 trillion, such as phosphates, which are estimated at $321 billion, gold at $229 billion and copper at $222 billion, in addition to zinc at $138 billion.
The Kingdom also seeks to develop industries related to minerals by providing the full support and solid infrastructure that ensure sustainability.
21:20 LOCAL TIME 18:20 GMT