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According to the report’s findings, the mining sector’s comprehensive plan will help provide essential investment possibilities. By vision 2030, Saudi Arabia will be a significant metal-producing country well poised to take its place among the world’s top producers.
Saudi Arabia mining sites worth $1.3 trillion
According to the research, there are several minerals and mineral products in Saudi Arabia that are critical to the development of value chains for metallic minerals, including iron, aluminum, copper, zinc, and gold. Non-metallic items include phosphate fertilizers, cement, glass, and ceramics, all produced by the company.
Bauxite is mined in quantities ranging from 4.9 million tons per year to 1 million tons per year, which is then processed to make aluminum. According to the research, Saudi Arabia’s Arabian Shield mines generate roughly 409,000 ounces of gold per year.
Phosphate ore mined in the country is processed to make 5.26 million tons of phosphate fertilizer per year, yielding around 68,000 tons of copper and zinc concentrates each year.
As a leading phosphate fertilizer producer, Saudi Arabia has also established several other mineral sectors, including oil and gas exploration.
Vision 2030 aims more sustainable mining practices
According to the study, the mining and metal industries’ comprehensive plan aims to ensure that these minerals are used to their full potential by developing industrial value chains that will have a substantial economic effect. The areas where these mineral ores are located will create jobs and transmit development.
More sustainable mining practices and environmental protections were outlined in a study that said it would benefit local communities and safeguard the environment. The mining sector plans to increase the output of gold, copper, and primary metals tenfold.
There are plans to make Saudi Arabia the world’s third-largest phosphate fertilizer producer and the tenth-largest global aluminum producer. For the anticipated increase in demand, the company also plans to double iron and glass production, achieve self-sufficiency, and expand into new value chains such as rare earth, tantalum, and niobium.
According to Vision 2030, the Ministry of Mines aims to maximize the value of the mining sector’s output. The Regional Geological Survey Program was the first of several initiatives and programs to help it meet its goals.