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Reuters
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Saudi Arabia’s Deputy Minister of Industry and Mineral Resources for Mining Affairs Khalid bin Saleh Al-Mudaifer has revealed the value of the Kingdom’s underground mineral deposits.
The Saudi official told CNBC that the kingdom’s underground mineral reserves are estimated at around $ 1.3 trillion.
Al-Mudaifer added that detailed studies have been prepared to determine the available resources of mineral wealth, and the underground stock has been estimated at around $ 1.3 trillion, and this is preliminary data.
He pointed out that these resources vary between phosphates, gold, copper, zinc, nickel, rare earth metals, minerals used in technological industries and other minerals.
Regarding the volume of investments in the mining sector, Al-Mudaifer said that the volume of investments in the mining sector in Saudi Arabia is between 170 and 180 billion riyals (about 48 billion dollars).
(dollar = 3.75 Saudi riyals)
Source: CNBC
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