JEDDAH — A team of the Saudi Geological Survey (SGS), led by its Acting President Dr. Muhammad ibn Asaad Tawfiq and a group of Saudi businessmen yesterday began a week-long visit to South Africa to discuss investments in mining resources and bilateral cooperation in different areas of land sciences.
“The Kingdom and South Africa enjoy strong relations which have been witnessing steady increase over the past years especially in trade and economic areas of which mining is an important sector. The visit is the direct result of the positive contacts between the two countries,” Dr. Tawfiq said in a statement.
In February a large South African delegation including government officials, mining executives and businessmen visited the Kingdom for an international conference on investment in mineral resources of Madinah Region.
South African companies presented papers on mining engineering and consultancy, mineral processing, water treatment, shaft sinking and tunneling, railway and road construction, production information systems, geological services and financing for mining projects. One company, Bateman Project Holdings, is responsible for establishing Mahd Addahab, the Kingdom’s first underground gold mine.
Capital investment in the Saudi mining sector is estimated at SR10 billion but mining revenues as percentage of GDP represent less than one percent.
South African Embassy officials welcomed the visit organized by the embassy commercial office saying it will help the two sides exchange expertise and enable the Saudi delegation to benefit from the South African experience in the mining industry. The visit features meetings with representatives of mining companies and visits to mines. It will last until May 12.
