Saudi Arabia Promotes Cornucopia of Mining and Minerals Opportunities

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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Saudi Arabia is accelerating its mineral resources development plan to develop its mining sector, according to the Saudi Gazette. The initiative fits with a medium/long term strategy to diversify the economy away from a traditional hydrocarbons base into other industrial sectors, which will provide employment to the country's growing percentage of youth and bring in new technological expertise.

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For related information, see July 30, 2014 article - Opening Up Saudi Capital Markets Could Attract $35 Billion in Foreign Direct Investments.

"The aim is to establish mining and support services as the third pillar of the Saudi Arabian economy after hydrocarbons and petrochemicals," said Sultan bin Jamal Shawli, the deputy minister for minerals at the Petroleum and Mineral Resources Ministry. "We have the minerals, market and potential to explore them. We are now turning to the private sector in the Kingdom and the world outside to help us achieve our ambitious goals."

"Mineral deposits in Saudi Arabia are widespread and of many types, ranging from metallic to non-metallic to lightweight aggregate," said Dr. Zohair A. Nawab, the president of the Saudi Geological Survey, a research and development agency based in Jeddah. "In the west, the Precambrian structure known as the Arabian Shield contains most of Saudi Arabia's known metal deposits of gold, silver, copper, zinc, iron and magnesium. East of the shield, the Phanerozoic zone contains oil resources and deposits of bauxite , phosphate, clay, limestone , silica, sand and lightweight aggregate that are of increasing importance to the industrial [sector]. In total, these represent world-class deposits."

There is great potential in the Arabian Shield and an enormous diversity of metals across the Kingdom. Further discoveries will require the application of modern techniques and a wide range of support services, according to Khalid S. al Mudaifer, the president and CEO of Maaden (Saudi Arabian Mining Company).

"The completion of the Maaden bauxite mine, alumina refinery, smelter and rolling mill will be a historic moment for the minerals and mining industry of Saudi Arabia and the whole Middle East," al Mudaifer said. "It means that the country will have the largest and most efficient vertically integrated aluminum complex in the world. The projects are expected to support tens of thousands of jobs in downstream and support industries.

"We are exploring for and evaluating new mineral resources. We are evaluating the potential of several industrial minerals and base metal deposits. They include refractory clays, low grade bauxite, kyanite, graphite, pure limestone, potash and iron ore. Base metals under consideration include copper, lead, zinc and nickel and copper deposits."

For related information, see May 27, 2014, article - Saudi Arabia's $100 Billion of Investments Back Downstream Projects Over Next Decade.

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