The Ministry of Industry and Mineral Resources in Saudi Arabia expected to pump investments of about 28 billion riyals in the mining sector during the current year from the private sector, the most prominent of which are the phosphate minerals projects 3 and the gold mine in Mansurah and Mansurah .
According to Al-Eqtisadiah newspaper, the Saudi Ministry of Industry and Mineral Resources stated that investment in the sector during the current year aims to prepare the organizational structure and geological data necessary to facilitate the investment journey, including the general program of geological survey which is the largest survey program of its kind globally, pointing out that a huge budget will be pumped To speed up the exploration process and prepare investment opportunities for the private sector.
The ministry pointed out that the total volume of investments in infrastructure projects and mining industrial complexes amounts to more than 216 billion riyals, which contributed to generating job opportunities and raising the local product, inferred by Ras Al Khair Industrial City projects that provided 12 thousand direct jobs, and contributed 35 billion riyals of the total The local production, as well as Waad Al-Shamal projects that provided 30 thousand direct and indirect jobs, and raised the proportion of the gross domestic product by 24 billion riyals.
The ministry confirmed that Saudi Arabia currently produces many minerals and metal products, and it has an important role in value added chains of metallic minerals, iron, aluminum, copper, zinc, and gold, as well as non-metallic minerals; fertilizers, cement, glass, and ceramics, as the share of production and industries are fertilizers, aluminum, and cement is the highest among minerals, Where self-sufficiency was achieved in what may reach export in some cases.
The ministry indicated that aluminum production is about 840 thousand tons to exceed domestic demand, while exports of phosphate fertilizers reach 5.8 million tons annually, Saudi Arabia is usually among the 15 largest producers of fertilizers globally, while cement is the eighth largest producer in the world with a production capacity that exceeds domestic demand, where Production of 61 million tons of cement and more than 350 million tons of concrete debris.
The Ministry pointed out to Saudi Arabia's investment of more than 150 billion riyals in integrated mining value chains in partnership with the private sector, while the mining sector contributes 64 billion riyals in the national gross domestic product, noting that the NIDLP program provides a wide range of investment opportunities In the mining sector for companies operating in the sector backed by a strong regulatory environment that is possible, competitive conditions, growing supply chains, and opportunities to access regional and international markets.
The ministry said that it aspires to raise the sector's contribution to the gross domestic product by 176 billion riyals by 2030, in addition to raising the financial returns for the sector by 8.9 billion riyals and the creation of 219 thousand new jobs.
She explained that the mining sector is witnessing a fundamental transformation through the implementation of many initiatives, including modernizing the mining investment system and digitizing related services and facilitating its procedures to achieve the goals of the Saudi Vision 2030, noting that it is one of ...
