RIYADH: Saudi Arabia is working to boost its mining sector by attracting investments, spreading digital and advanced technologies, and applying sustainable standards, said the Kingdom’s vice minister for mining affair at the Ministry of Industry and Mineral Resources.
Khalid Al-Mudaifer is heading a Saudi delegation in South Africa, where the Kingdom seeks to explore investment opportunities to become a global supplier of hydrogen and emerge as a hub for green mineral and highly competitive manufacturing.
The delegation, comprising Saudi investors, is visiting South African capital Pretoria to meet local investors, the Saudi Press Agency reported.
The report said the Kingdom has many opportunities for integration with South Africa since it is one of the biggest economies in the continent.
One of the reasons for cooperation with South Africa is its strategic location, serving as a gateway to the entire African continent, as well as a link between the East and the West, Al-Mudaifer told Argaam.
South Africa is the hub for West Africa and Sub-Saharan Africa and the site for the export and trade of the Kingdom’s minerals. It also has great experience in mining, tourism, and other sectors.
Al-Mudaifer emphasized that Saudi Basic Industries Corp. and Saudi Arabian Mining Co. have representative offices in South Africa, which presents numerous opportunities for Saudi companies there.
“We can cooperate with South Africa to serve the Kingdom’s mining sector,” the vice minister noted.
The Kingdom has 14 mining sites with quantities of copper and zinc that will be auctioned after Al-Khunayqiyah and Umm Al-Damar. It needs marketing campaigns worldwide to attract companies, he added.
There are several South African firms operating in the Kingdom, including ADL, the official said, adding that some agreements were signed at Indaba. In addition to signing pacts with South African firms, other deals will be signed to transfer business into the Kingdom during this visit.