KSA Opens Mining Opportunities to Foreign Investors, Official Says
September 4, 2021
According to Khaled Al-Mudaifer, Vice-Minister of Mining Affairs at the Ministry of Industry and Mineral Resources, since the introduction of the new Mining Investment Law earlier this year, there has been a profound change in the Saudi mining sector and increased its investor interest.
He told Al Arabiya that there would be global demand for the sector in the future. According to him, the country is the world’s fourth-largest importer of minerals. He said the International Future Metals Conference, which will hold its first session in January next year, will serve as a platform for mining investments in the Middle East, Central Asia, and Africa. According to him, the country’s mineral wealth opportunities are valued at $1.3 trillion.
The Vice-Minister of Mining Affairs for the Saudi Ministry of Industry and Mineral Resources, Khalid Al-Mudaifer, shared with the global audience of investors the reasons why Saudi Arabia is rapidly emerging as a major mining destination?
Eng. Al-Mudaifer said, “Saudi Arabia is able to do business”. “And we have taken the number of visionary steps to make mining investing more appealing than ever before.” “Furthermore what investors have told us are the key to success, we have a new national vision, a better understanding of mining’s intricacies, and a greater emphasis on stability and consistency. When merged with a large and varied geological footprint, a revitalized mining sector, and a strong emphasis on sustainability, we can make a good case that Saudi Arabia is on the verge of becoming a mining country.”