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Saudi Arabia will present six large mining projects at a minerals conference opening in the capital Riyadh on Tuesday, newspapers in the Gulf Kingdom said on Monday.
Hundreds of officials and investors from over 60 countries are expected to attend the three-day meeting, the second mining conference organised by the largest Arab economy with the aim of highlighting investment opportunities in this sector.
In a statement published by Al-Madina and other dailies, the Saudi Industry and Mineral Resources Ministry said it would present “6 investment opportunities” to the conference.
They include six mining sites in various parts of the Kingdom covering zinc, silver, copper, lead, gold, iron and other metals, the statement said.
The conference will also include discussions among the participants to form “strategic alliances” between national and foreign firms to bid for mining projects in the world’s largest oil exporter, according to the statement.
Saudi Arabia has awarded hundreds of mining contracts over the past two years following the enforcement of a law intended to attract local and foreign capital into its minerals industry, with an estimated value of 5 trillion Saudi riyals ($1.33 trillion).
(Writing by Nadim Kawach; Editing by Anoop Menon)
