|10 December, 2019

Saudi Arabia to launch major seismic survey project

The ministry is set to reveal the new mining system within weeks, says minister

Image used for illustrative purposes ,A miner works in the Al Amar gold mine, 200km (124 miles) southwest of Riyadh, May 28, 2008.

Image used for illustrative purposes ,A miner works in the Al Amar gold mine, 200km (124 miles) southwest of Riyadh, May 28, 2008.

REUTERS/Fahad Shadeed

Riyadh – Mubasher: Saudi Arabia will soon launch a major project for seismic surveying, according to the Saudi Minister of Industry and Mineral Resources, Bandar Al Khorayef.

Al Khorayef said during the 2020 Budget Forum, organized by the Ministry of Finance on Tuesday, that the project is valued at SAR 2 billion and will cover 700,000 kilometres in the Arabian Shield area.

It will generate valuable information that allows investors to choose the best location, with the focus mainly being directed towards the mining sector, the minister added.

The ministry is set to reveal the new mining system within weeks, the minister revealed, adding that the market rules are changing and investors need to start manufacturing in the Kingdom, which became a sustainable major market.

Earlier, the head of the National Mining Committee at the Council of Saudi Chambers said that the 2020 budget is helping the Kingdom achieve one of the Saudi Vision 2030 goals by growing the mining industry to SAR 4.8 trillion.

Moreover, Saudi Arabia plans to be among the top ten aluminium producers worldwide.

It is worth noting that the 2020 public budget was approved on Monday in a Saudi cabinet meeting.

Source: Mubasher

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