The mining sector is the third pillar of Saudi Arabia’s economy and the kingdom has enormous natural resources and offers promising investment opportunities in the sector, said Governor of the Public Investment Fund Yasir bin Othman Al Rumayyan.
Al Rumayyan said many of the future industries depend on the mining sector and the Middle East, Central Asia and Africa are considered the main regions for mining.
Speaking at a side meeting during the Future Minerals Forum, he said the PIF, the kingdom’s sovereign wealth fund, considers mining one of the main strategic sectors to realize the Saudi Vision 2030 goals.
He said the Saudi Arabian Mining Company (Ma’aden) has doubled its revenues to become a world-class operator and is working with King Abdullah University of Science and Technology (KAUST) in developing a breakthrough innovation to extract valuable minerals from seawater.