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| 17 March, 2017

UAE plans database for mineral resources

Image used for illustrative purpose. An investor looks at a trading board at the Dubai Stock Exchange in the Dubai World Trade Center October 12, 2008.

Image used for illustrative purpose. An investor looks at a trading board at the Dubai Stock Exchange in the Dubai World Trade Center October 12, 2008.

Reuters/Ahmed Jadallah

ABU DHABI, 17th March, 2017 (WAM) -- The Ministry of Energy is developing a federal electronic, interactive data base for mineral resources and mining industries (extractive and manufacturing) which includes a registry of operating companies in the sector, said a senior ministry official.

Ahmed Al Kaabi, Assistant Undersecretary for Oil, Gas and Mineral resources, told a brainstorming session that the data base project will be implemented in two phases.

''The first phase will cover extracting industries which will be completed during the current year. There were 131 crushers and quarries until December 2016 according to statistics by the Ministry of Environment and Climate Change,'' Al Kaabi said.

The second phase, he explained, will gather data for the manufacturing industries (ceramic, glass, tile, block, ready mix concrete and rockwool) and span from 2018 to 2021.

He stated that the data will help the ministry to develop strategic indices for the available mineral resources, metal production rates, metal imports and exports and others.

''Based on available data, decision-makers can conduct studies on potential investment opportunities in the sector, consider alternatives to imported materials and introduce new advanced industries,'' he added.

© Copyright Emirates News Agency (WAM) 2017.