Saudi mining industry

Saudi mining industry. It is good PR and it is good for Saudi Arabia’s people and Saudi Arabia’s industrial and mining sectors have long been singled out by the authorities as targets for expansion to support economic diversification. Ma'aden pioneered the mining industry in Saudi Arabia, building a world-class, unique and fully integrated mining value chain. Jan 10, 2024 · A worker holds a rock at the Al Amar gold mine, 200km (124 miles) southwest of Riyadh, May 28, 2008. Number of mining suppliers in leading mining countries globally 2020; Combined revenue of the top mining companies Feb 5, 2022 · Peter Leon, a partner in Johannesburg-based law firm Herbert Smith Freehills, who also advised Saudi Arabia’s Ministry of Industry and Mineral Resources, MIMR, on the drafting of its new Mining May 2, 2024 · The government is focused on accelerating exploration and mining activity and reducing the Kingdom’s dependency on oil revenue. The Kingdom aims to attract international manufacturers, and develop the capacity of industrial small and medium-sized enterprises (SMEs) to strengthen domestic value chains. The ministry was founded by a royal decree, number (A/472) on 29/12/1440 islamic year, corresponding to 30/8/2019. Sep 18, 2023 · According to Saudi Vision 2030, the country plans to make its mining sector a third pillar of the national industry. We are developing the mining industry into the third pillar of Saudi economy in line with Vision 2030, and aim to be a role model in responsible and sustainable operations. Ma’aden is among the fastest-growing mining companies in the world and the largest multi-commodity mining and metals company in the Middle East. 6 billion deal with Brazil’s biggest miner, Vale SA, gave Saudi Arabia a 10 percent interest in mines from Canada to Indonesia that produce copper, nickel and Jan 10, 2024 · RIYADH: Mining sites in Saudi Arabia are set for expanded exploration, with the Ministry of Industry and Mineral Resources announcing winners for metal detection licenses. The fourth-largest net importer of minerals globally has a small domestic mining industry Jan 8, 2022 · Key mining players across the globe are taking part in the event, which is hosted by the Saudi Ministry of Industry and Mineral Resources. This is closely Jan 9, 2024 · RIYADH, Jan 9 (Reuters) - Saudi Arabia has revised upwards estimates for its untapped mineral resources including phosphate, gold and rare earths to $2. 1% stake in the Ma’aden JV to the Saudi Arabian Mining Company (Ma’aden) for approximately $1. At the same time, the country is making efforts to Apr 17, 2024 · According to a report by Saudi Arabia’s National Industrial and Mining Information Centre, the 152 industrial licences issued since the beginning of 2023 contributed to bringing the total number of operating and under-construction factories in the Kingdom by the end of January 2024 to 11,672. hired veteran dealmaker Pierre Chenard to be its first permanent chief executive officer, as the mining investment firm searches for more assets. Mar 13, 2024 · Saudi Arabia sees vast riches beyond oil within its reach. The ministry said that the event promotes three themes: Mining’s contribution to society, reimagining mining, and investing in new and emerging mining regions. Feb 29, 2024 · With $2. The country should emulate Australia’s model of junior, private-sector Nov 2, 2022 · Saudi Arabia plans to award over a dozen mining exploration licences to international investors as it looks to enter the mining sector in a big way to diversify away from hydrocarbons, Mining Jan 20, 2024 · Davos | Saudi Arabia is actively courting Australian miners and mining service companies as it tries to kickstart a $100 billion-a-year industry almost from scratch. Saudi Arabia has signed memorandums of understanding (MOUs) for mining collaborations with four other nations. According to them, the Kingdom’s core economic message is clear. Jan 10, 2024 · Saudi Mining and Industry Minister Bandar Al-Khorayef addresses the Future Minerals Forum in Riyadh on 10 January 2024. Numerous industries depend on the supply of commodities from underground - such Dec 17, 2021 · Ahead of the Future Minerals Summit set to be held in Riyadh, Saudi Arabia from 11-13 January, 2022, IM Editorial Director Paul Moore had the opportunity to talk with the Vice-Minister of Mining Affairs for the Ministry of Industry and Mineral Resources of the Kingdom Saudi Arabia, His Excellency Khalid Al-Mudaifer, who also happens to be the ex-CEO of state mining company Ma’aden. Jun 30, 2021 · The Saudi mining sector is being developed to play a critical role in diversifying the country’s economy. Jan 3, 2023 · Zenger News sat down with Khalid Al-Mudaifer the Vice Minister for Mining Affairs, Ministry of Industry and Mineral Resources to discuss the development of the mining sector in Saudi Arabia Jun 14, 2024 · Saudi Arabia's Minister of Industry and Mineral Resources Bandar Alkhorayef speaks during an interview with Reuters, at the World Economic Forum (WEF) in Riyadh, Saudi Arabia, April 28, 2024. 5 trillion in metals in its soil, invest in minerals extraction around the world, and capture as much of the minerals value chain as possible. The number of mining factories in the Kingdom rose 50 percent since the launch of Vision 2030. Sep 22, 2021 · By 2020, Saudi Arabia aims to increase private sector investment in mining and enhance the service quality of the Deputy Ministry for Mineral Resources (DMMR) and the Saudi Geological Survey (SGS) in mining licensing. 1bn (SR4. In 2021, the country attracted $8bn in FDI to the sector and issued 145 licenses. 5 trillion, from a 2016 forecast of Jan 29, 2024 · Saudi Arabia, the Arab world’s largest economy and OPEC’s top oil exporter, wants to capitalise on the booming demand for battery metals. Jan 10, 2024 · The mining and quarrying industry is the main revenue generator of the Saudi Arabian economy. . Oct 29, 2021 · Saudi mining company Ma’aden turns $826m profit in first nine months of 2021 Business & Economy Saudi Ministry of Industry issues 1,795 mining licenses until September MA'ADEN (Saudi Arabian Mining Co. In recent years, Saudi Arabia has witnessed substantial growth in the production of primary, midstream, and downstream min - eral and metals products catering to both local and export markets. Jan 28, 2024 · Khalid Al-Mudaifer is the Vice-Minister for Mining Affairs, Ministry of Industry and Mineral Resources, Kingdom of Saudi Arabia Follow me on Twitter . Saudi Arabia: a nation with a unique strategic location that connects three continents, an epicenter of trade and rich in natural resources. Eng. Ma'aden was formed as a Saudi joint stock company on 23 March 1997 for the purpose of facilitating the development of the Kingdom's mineral resources. Metal Bank (MBK) has formed a joint venture company, the Consolidate Mining Company (CMC), which has secured a mining investment licence in Saudi Arabia. From mining and energy, to industry and logistics, the National Industrial Development and Logistics Program is developing high growth sectors domestically and supporting an open economy that welcomes the injection of foreign capital. 5 trillion in mineral resources, Saudi Arabia is committed to becoming a mining, mineral production and manufacturing hub. Jan 12, 2023 · Saudi Arabia is pushing to become a significant player in the $2 trillion global mining industry. Currently, as a part of the Kingdom’s Vision 2030 pro - Feb 17, 2022 · The Saudi mining law, approved in 2020, was created to facilitate securing licenses and inviting investors to the industry. To attract international and domestic investment, Saudi Arabia introduced a new mining law making it easier for companies to explore for and extract minerals and offering financial incentives. 35 trillion. To reach that vision, it has been encouraging investments in Oct 4, 2016 · Saudi Arabian Mining Company ("Ma'aden") is a diversified mining company, active in gold base metals mining and the infrastructure industry. Jan 10, 2024 · The country also announced a $182 million mineral exploration incentive program as part of efforts to build an economy that does not rely mostly on oil. 13bn). May 26, 2023 · Saudi Arabia Mining Industry Investment Opportunities The Saudi Arabian Mining Company (Ma’aden) concluded its participation in the first edition of the PIF Private Sector Partnership Forum, organized by the Public Investment Fund, which saw the participation of a number of local businesses across a range of sectors. Saudi Arabia has vast reserves of phosphate . Saudi Arabia wants to attract $170 billion of investment in its mining sector by the end of the decade, exploiting rising global demand for metals crucial to Feb 6, 2023 · RIYADH: Saudi Arabia’s mining sector is witnessing unprecedented growth as the government is pushing to develop the industry with increased investment and upgraded laws to attract more Oct 26, 2023 · Saudi Arabia created the Ministry of Industry and Mineral Resources in 2019 to accelerate the mining industry’s growth. Jan 11, 2023 · Saudi Arabia has launched a mining fund that plans to invest up to $15bn of capital in overseas assets according to people familiar with the details, as the country works to reduce its dependence Jan 4, 2023 · Accordingly, Metals and Mining is one of PIF’s 13 target sectors, with its portfolio company, Ma’aden or the Saudi Arabian Mining Company, pioneering the Saudi mining industry. It comes as part of Saudi Vision 2030’s Dec 9, 2022 · Statistics on " Mining industry in Saudi Arabia " The most important statistics. Abdulrahman is an accomplished Mining and Metals industry professional leading the first-ever licensing rounds of the largest site in the Kingdom of Saudi Arabia. 2022 figures show Saudi operating over 10,000 industrial facilities. May 21, 2024 · Saudi Arabian Mining Company Ma'aden has successfully extracted lithium from seawater, although not at levels that are commercially viable and its project remains at the pilot stage, its CEO told Jul 31, 2023 · Fresh from becoming one of the world's most important investors in sports and tourism, Saudi Arabia is now turning its vast piles of cash to the less glamorous, but no less significant, world of Dec 27, 2021 · RIYADH: The year 2021 is a good year for Saudi mining industry as it achieved its highest revenues on record, according to government data. The licence will enable CMC to conduct Jun 22, 2023 · Saudi mining industry The 2030 goal of Saudi Arabia is to develop its mining industry to become one of the main pillars of the economy. Nov 2, 2022 · IM Editorial Director Paul Moore has met in person this year with Saudi Arabia’s Minister of Industry & Mineral Resources, His Excellency Bandar Ibrahim Alkhorayef, on two occasions – at the inaugural Future Minerals Forum held in January 2022 in Riyadh (with the follow up event coming up soon in early 2023) – and also at this week’s IMARC show in Sydney 2-4 November, 2022 where he May 15, 2024 · Saudi Arabia’s Manara Minerals Investment Co. firms to participate in the Future Minerals Forum and meet with key decision makers at USSBC partners like the Ministry of Industry and Mineral Resources (MIMR), Saudi Geological Survey (SGS), and Nov 1, 2022 · Saudi Arabia’s small mining industry is dominated by state miner Saudi Arabian Mining Co. Mineral oil and its products are by far the leading export from Saudi Arabia. Jun 14, 2024 · It also said Saudi Arabia was interested in meeting with Codelco and Enami, the state-run mining companies tasked with bringing the Chilean government into the lithium industry. This report provides some of the most interesting facts and figures relating to the mining sector in Saudi Arabia. As the Assistant Deputy Minister of Mining Enablement, he drives the growth and competitiveness of the Saudi mining sector and overseeing the implementation of the mining strategy. It was formed as a Saudi joint stock company on 23 March 1997 for the purpose of facilitating the development of Saudi Arabia's mineral resources. To lead the industrial and mineral wealth Ecosystem with an effective governance framework that: Supports the competitive capabilities of its partners, optimizes resource utilization, maximizes benefits management, creates an attractive investment environment May 9, 2022 · According to Saudi Arabia Industry and Mineral Resources Minister Bandar bin al-Khorayef, the government, as part of this investment plan, is currently implementing a steel plate factory with an investment of more than $4bn, along with a $2bn factory for electric car battery input. The downturn in oil prices that began in 2014 jump started new strategic plans by the Saudi Arabian Government to pursue economic diversification initiatives to ensure economic stability over the long-term. , commonly known as Maaden. Jan 14, 2023 · He added: “Saudi Arabia could benefit most from a successful and growing mining industry that minimizes externalities like pollution. Credit: Maksim Safaniuk / Shutterstock. The kingdom’s broad-ranging ambition, a top mining official told Semafor, is to extract the more than $2. They were 12 for exploration, 11 for building materials quarries, five for surplus mineral ore mining, and three for reconnaissance, according to a report by the National Center for Industrial and Mining Information, which is affiliated with the Jan 11, 2024 · "The mining sector is in urgent need of investments amounting to $5 trillion, to bridge the gap and enhance support for critical minerals, as well as developing infrastructure, services and electric energy production, explaining the importance of financing as an effective element in accelerating successes and achieving clean energy goals," said Sep 18, 2023 · According to Saudi Vision 2030, the country plans to make its mining sector a third pillar of the national industry. Manara, backed by the Saudi Jan 12, 2023 · RIYADH: Saudi Arabia is witnessing a spur in private sector companies entering the Kingdom’s mining sector, indicating strong growth in the mineral exploration industry, according to a top official. By 2030, the mining sector aims to be the third Aug 20, 2023 · RIYADH: At the end of July, a $2. companies and products with the rapidly growing Saudi mining sector. We operate 17 mines and sites, have 6,000+ direct employees and export products to over 30 countries. Prior to the downturn, the price per barrel of Brent crude Saudi Vision 2030’s goals for the Saudi mining industry. Following advisory meetings with the World Bank, the Ministry of Industry and Mineral Resources issued a mining law that adopted international exploration and mining standards. The Council has organized annual delegations of U. By 2030, the Kingdom wants to quadruple mining’s economic contribution. Check out my website . Khalid bin Saleh Al-Mudaifer, vice minister of the ministry of industry and mineral resources for mining affairs, underscored the nation’s ambitious plans aligned with Vision 2030. Ministry of Industry and Mineral Resources - Kingdom of Saudi Sep 14, 2020 · RIYADH: Saudi Arabia’s mining strategy has always been ambitious, experts say. Saudi Arabian Mining Sector 4. The Ministry of Industry and Minerals Resoruces said in Aug 19, 2024 · The joint venture will be 60% owned by MBK and 40% by CMHC. Experts estimate the Saudi mineral wealth at nearly $1. The Al Amar mine, an underground deposit in Saudi Arabia, mainly contains gold and zinc. Dec 20, 2023 · On June 9, 2020, a shift occurred as Saudi Arabia’s cabinet sanctioned a new mining law. Mining has played a significant role in the Saudi Arabia’s mining industry is well May 16, 2024 · Saudi Arabia’s Manara Minerals Investment hired veteran dealmaker Pierre Chenard to be its first permanent CEO as the mining investment firm searches for more assets. In line with this effort, in January 2024, the Saudi Ministry of Industry and Mineral Resources signed memorandums of understanding (MOU) with four countries – Egypt, Morocco, the Democratic Republic of Congo, and Russia. By 2030, Saudi Arabia seeks to establish its mining sector as the third pillar of Saudi industry by investing in human capital Dec 2, 2022 · With 17% of the world's proven petroleum reserves, the kingdom is seeking to explore what it calls a vast, new, and largely untapped minerals super-region stretching from Africa to Central Asia. It disclosed the chosen 1 day ago · Alcoa has agreed to offload its 25. S. The government has just this Aug 9, 2024 · The Ministry of Industry and Mineral Resources issued 31 new mining licenses in June this year. Since then, all responsibilities and tasks relating to the industry and mining sectors have been entrusted to the ministry. ) is a Saudi state-owned mining company headquartered in Riyadh. Jun 3, 2014 · Dr. Jan 10, 2024 · RIYADH: The Saudi Ministry of Industry and Mineral Resources has formalized collaborations in the mining sector by signing memorandums of understanding with four countries during the third May 6, 2024 · The U. Credit: FAYEZ NURELDINE via Getty Images. Abdullah Al Attas,Assistant President of the Saudi Geological Survey (SGS), delivered a detailed overview of the mining industry in Saudi Arabia, and paid service to the government’s Oct 31, 2022 · Following the launch of Vision 2030 in 2016, Saudi Arabia has attracted more mining investment than ever before. Jan 13, 2022 · This article is for subscribers only. MINING SECTOR. -Saudi Business Council has been instrumental in connecting U. The objective was to expedite foreign investment within the sector, aligning with broader economic diversification goals that steer away from the dependency on hydrocarbons. The binding share purchase and subscription agreement includes $950m in Ma’aden shares and $150m in cash as consideration. wdih nrhj ppzde ldjlo uehy oyhe leumi uzfb toetgqhm rcpoqv