JEDDAH, 23 January — A symposium and a series of workshops are planned over three days from Feb. 3-5 in Madinah. Topics ranging from opportunities for mining investments in Madinah region, to the industrial applications of minerals and smelting activities will be under discussion.
To be opened by Madinah Governor Prince Muqrin and addressed by Minister of Petroleum and Mineral Resources Ali Al-Naimi, delegates representing 15 private companies will take part in the meetings, said Dr. Muhammad ibn Asaad Tawfiq, acting president of the Saudi Geological Survey (SGS) which is organizing the conference in cooperation with the Madinah Governorate.
Speakers include Dr. Khaled Faqi from SGS, Dr. Zuhair Nawab, deputy minister for minerals affairs, Abdul Aziz Al-Awadi from the General Investment Authority, Dr. Mahmoud Elaywah from Madinah Governorate and Dr. Abdullah Al-Dabbagh, president of the Saudi Arabian Mining Company (Ma'aden), said Younus Ishaq, SGS media supervisor and member of the organizing committee.
Businessmen from South Africa will submit six working papers on their country's experience in the mining sector. Representatives from the Ministry of Industry and Electricity, the Islamic Development Bank and the Saudi Industrial Development Fund will also present papers. An exhibition on mineral resources and mining activities in the Kingdom and South Africa has been planned to run with the symposium.
Capital investment in the mining sector is estimated at SR10 billion while mining revenues as percentage of gross domestic product (GDP) stands at less than one percent.
Figures from the Ministry of Petroleum and Mineral Resources put the capital investment in gold at SR655 million. Foreign and local businessmen and government officials will meet in the holy city of Madinah next month to discuss prospects for investing in the region's mineral resources, the sponsors of the gathering said.
Dr. Tawfiq said that the symposium was intended to attract local and foreign investments in industries based on mineral resources and give the private sector a larger share in the country's economic process." Under more flexible regulations, the government hopes to increase local and foreign investment in mining and metal processing to tap the Kingdom's considerable mineral wealth.
