Kingdom’s mining investments hit $ 50 bn

Updated 29 November 2012

Kingdom’s mining investments hit $ 50 bn

Minister of Petroleum and Mineral Resources Ali Al-Naimi said the volume of Saudi investments in mining had so far amounted to $ 50 billion.
The minister, who was addressing the 14th session of the Arab mineral resources conference in Khartoum, Sudan, said mining licenses awarded to exploit mineral wealth in the Kingdom had totaled 1,700, covering an area of 73,000 sq. km.
The industry based on the extraction of mineral ores has witnessed a rise in terms of quantity, the minister was quoted by the Saudi Press Agency as saying.
He termed the current session of the conference as the most important Arab gathering in the field of mineral resources. He said the conference is aimed at promoting joint Arab work in this area, exchange expertize and attract capital to this sector.
The Saudi minister said Arab lands enjoy enormous geological riches and contain a variety of metallic and nonmetallic minerals. The development of mineral investments in the Arab world during the past decades came through the exploitation of metal ores and establishment of related industries including phosphates, ornamental stones, cement, bricks, glass, paints, ceramics, and building materials. They achieved self-sufficiency in this regard, he said.
The global economic situation requires joint Arab work and mining policies to attract international companies to invest in the Arab mining sector, especially in light of the drop in mining activities worldwide due to the economic crisis in some parts of the world, he said.
The minister referred to a deal signed between the Kingdom and Sudan in 1974 as a model of joint Arab work. The agreement was meant to exploit deep mineral resources in the Red Sea located in the common areas between the two countries. The deal led to the issuance of the first mining license in 2010 for the exploitation of gold, silver, copper, zinc and associated minerals in deep areas of the Red Sea, he said.

Comoros minister praises Muslim World League's development work

Muslim World League Secretary-General Mohammed bin Abdul Karim Al-Issa distributes aid packets among poor families in Comoros. (SPA)
Updated 30 min 9 sec ago

Comoros minister praises Muslim World League's development work

  • The league’s contribution to the medical field totaled SR6,948,032
  • The league established six educational institutes more than 30 years ago

Comoros’s Minister of State for Foreign Affairs, Hamid Karhila, has commended the development efforts carried out by the Muslim World League (MWL) in his country. 

He also expressed his government’s gratitude to the MWL for its initiative launched by Secretary-General Muhammad bin Abdul Karim Al-Issa.

Karhila said during a visit to the headquarters of the International Association for Relief, Care and Development (IARCD): “The new Comorian government aims to keep this cooperation with the MWL. This would help achieve more developmental and humanitarian projects that serve the Comorian people.”

Secretary-General of the IARCD Abdul Aziz Sarhan said: “The Muslim World League will continue to provide assistance and stand with the needy in all countries around the world.”

Sarhan said that the association carried out various humanitarian, medical and relief projects in the Comoros at a cost of SR10,916,645. These projects benefited 1,104,969 people between 2006 and 2017.

The league’s contribution to the medical field totaled SR6,948,032, which benefited 971,333 people. 

The league established six educational institutes more than 30 years ago. These institutes graduated thousands of students who occupy some of the highest positions in the Republic of the Comoros.

The MWL is also building a mosque at a cost of SR200,000 and working on the construction of an artesian well that cost SR130,000, as well as two surface wells at a cost of SR20,000.