|20 November, 2019

Self-sufficiency achieved in Saudi's mining sector in a few years: minister

The ministry is working on providing facilities, boosting development and giving a push to the wheel of mining investments

Image used for illustrative purpose. A view shows Maaden Aluminium in Ras Al Khair, Saudi Arabia November 23, 2016.

Image used for illustrative purpose. A view shows Maaden Aluminium in Ras Al Khair, Saudi Arabia November 23, 2016.

REUTERS/Zuhair Al-Traifi

YANBU – Acting Undersecretary of the Ministry of Industry and Mineral Resources for Mineral Resources Ahmed Bin Muhammad Faqih has said the Kingdom has achieved self-sufficiency in the mining sector, despite it being a nascent sector. “Within just a few years, we have achieved self-sufficiency and it is remarkable,” he said in an open meeting at the headquarters of Yanbu Chamber of Commerce and Industry (YCCI) on Tuesday.

Faqih added: “We have the next stage in which we will exploit industrial minerals. It needs some time to announce the beginning of exploitation, but the future is promising.”

Faqih stressed that the ministry, in line with the directives of the Minister of Industry and Mineral Resources, is working on providing facilities, boosting development and giving a push to the wheel of mining investments.

These will have a positive effect in developing the region and further improving the citizens’ standard of living, as the region has plenty of mineral resources and ores. He called on investors to get acquainted with the geological database and ‘Sinaiy’ Platform on the ministry’s website that will enable them to determine the areas available for investment and the licenses issued.

The open meeting touched on the role of the Ministry of Industry and Mineral Resources in developing the mining sector and exploring for areas rich in minerals, the ministry’s projects and the mining opportunities in the region.

With the help of a visual presentation by Yasser Abu Saad, the first theme focused on potentials and mining investment opportunities in Madinah Province and the governorates of Yanbu, Badr and Al-Eiss.

The second theme dealt with the mining investment system and the mechanism for granting licenses, presented by Wijdan Al-Kaaf.

The third theme dealt with the efforts being exerted by the ministry in developing the mining sector and prospecting for sites rich in ores. The objective is to make mining the third pillar in the national economy, in line with the Kingdom’s Vision 2030. It was presented by Faisal Shalabi.

Meanwhile, Chairman of Yanbu Chamber Murad Ali Al-Irwi said that the meeting was due to the keenness of the Ministry of Industry and Mineral Resources to provide a suitable work environment that is conducive to the exchange of ideas and information, reviewing the best solutions, and getting to know the latest organizational developments with the objective of raising the standard of the mining sector.

The meeting was held in the presence of the Undersecretary to the Yanbu Governor, Bandar Bin Khalid Al-Harbi, many businessmen and investors and players in the mining sector. The objective was to discuss the opportunities to achieve growth of the mining sector, deal with the most outstanding challenges facing them and the available mining investment opportunities.

 

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