Saudi Arabia Mining News

The Saudi dilemma: To cut or not to cut

To cut and push up prices or not to cut and preserve market share.

Saudi Arabia targets $64B in mining revenue by 2030

Mining vast untapped reserves of bauxite, phosphate, gold, copper and uranium is key to the Saudi Arabia's efforts to diversify its economy away from hydrocarbons.

Oil heads for seventh weekly loss on signs of global supply glut

Demand for Saudi crude may be lower in January compared with December - Khalid Al-Falih

Saudi Arabia says new mining project to increase non-oil GDP by 3%

King Salman inaugurated the Waad Al-Shamaal mining project, which is expected to boost the kingdom's GDP by $6.4 billion and its non-oil GDP by 3%.

Saudi King to open $22.7B mining project on Thursday, Al Arabiya TV

The project is part of an industrial scheme aimed at opening up Saudi's north to development that will boost job creation.

OPEC+ faces risk of new oil surplus as prices slump

A technical committee representing the coalition projected on Saturday a global oil surplus will resurface in 2019.

Glencore chair Tony Hayward latest to drop out of Saudi conference

Another executive pulls out of conference due to widespread concern about the fate of journalist Jamal Khashoggi.

Iraq pumping oil at record levels, unaffected by protests

The country’s crude exports reached a record of 3.59 million barrels a day.

A Saudi Iran oil war could break up OPEC

Could OPEC be on the way out? Maybe.

Barrick says copper operation in Saudi Arabia not affected by diplomatic dispute

The Canadian miner said it has a strong relationship with partner Ma’aden.

Saudis discover 1,200-year-old mining hub

Dawadmi is presumed to have been a hub from where mining products were exported 1,200 years ago.

Emerging market meltdown could undermine oil rally

Higher production doesn't necessarily mean higher oil prices are entirely out of the question.

Commodities are flashing a once-in-a-generation buy signal

Since the commodities supercycle unwound nearly 10 years ago, many investors have been waiting for the right conditions to trigger mean reversion and lift prices.

Last hurrah for the zinc price

The price of zinc fell to a four month low on Thursday – there's much more pain to come says new report.

Building the world's largest solar project

Saudi Arabia wants to pour $200 billion into solar to build the world's largest solar project. 

Saudi Ma'aden to develop Mansourah, Massarah gold mine- sources

Ma'aden operates six gold mines in the Central Arabian Gold Region, western Saudi Arabia which contains much of the Kingdom's gold rich ore deposits.

OPEC's bearish report provides little hope for oil markets

OPEC has released a new market whammy, offering up the cartel’s production figures, which largely jive with figures reported by the IEA.

How the US is shunning Saudi oil imports

Over the last 15 years, America has been turning away from traditional oil suppliers in the Middle East to more trusted sources, closer to home.

New Saudi gold mine starts producing

The Ad Duwayhi gold mine in Saudi Arabia has begun commercial production, Saudi Arabian Mining Co. (Ma'aden) (TADAWUL:1211) said on Sunday.

Russia cries Dyadya (Uncle), is Saudi Arabia listening?

According to Bloomberg, the Russian Energy Ministry issued a statement that "Energy Minister Alexander Novak and the heads of Russia's biggest oil companies discussed the possibility of working with OPEC."

Feeling abandoned, Saudi Arabia ups the ante

Last week a major diplomatic crisis developed between Saudi Arabia and Iran over the Saudi execution of Nimr al Nimr, a charismatic Shiite cleric and anti-Sunni political activist.

Platts Survey: OPEC pumps 31.2 million barrels of crude oil per day in September

Oil production from the Organization of the Petroleum Exporting Countries (OPEC) totaled 31.2 million barrels per day (b/d) in September, down 60,000 b/d from August as Saudi Arabia further reined in supply, according to a just-released Platts survey of OPEC and oil industry officials and analysts.

New technology could end the debate over pipeline safety

Monitoring, detecting pipeline corrosion still a 'crude' affair.

Resource rich countries lead global conflict and political violence index

Levels of conflict and political violence have risen significantly in 48 countries, most of them considered traditional mining destinations.

Saudi Arabia still doesn't care about the US shale boom

Saudi oil minister says his country 'welcomes this new source of energy.'