Saudi revenues from ore minerals exceeded SAR 500 mln in 2017

16/10/2018 Argaam

 

Saudi Arabia generated revenue worth over SAR 500 million from ore minerals in 2017, the Ministry of Energy, Industry and Mineral Resources said on its Twitter account.

 

Extracted ores reached 400 million tons last year, it said, adding that the total value of the Kingdom’s mineral resources stands at SAR 5 billion.

 

According to data compiled by Argaam, the energy ministry is working on a comprehensive strategy that includes 42 initiatives aiming to restructure the mining sector and increase its contribution to the gross domestic product to $ 64 billion from $ 17 billion.

 

Energy minister Khalid Al-Falih recently mentioned that the mining strategy is in its final stages, and is being reviewed ahead of implementation.

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