Saudi Arabia to attract investments worth $32 billion in mining, minerals sector

King Salman bin Abdulaziz Al Saud of Saudi Arabia. Photo by Kremlin.ru, creative commons.

Saudi Arabia’s minister of industry and mineral resources said the ministry has a goal to attract investments worth $32 billion to its mining and minerals sector through nine new projects, state news agency SPA reported.

The projects are aimed at supporting supplies of mineral products to local and international markets, according to SPA.

Minister Bandar Alkhorayef added that the ministry is currently studying 145 applications for exploration licenses from foreign companies, SPA said.

(By Nayera Abdallah; Editing by Hugh Lawson)

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