Mining third pillar of Saudi economy, ripe with opportunities: PIF governor

Share
1 min read
MA’ADEN reported a net profit of SAR 2.9 billion for the first quarter of 2022, up by 246% from the first quarter of 2021.
Share
  • PIF considers mining one of the main strategic sectors to realize the Saudi Vision 2030 goals, says Yasir bin Othman Al Rumayyan.
  • Saudi Arabian Mining Company (Ma'aden) has doubled its revenues to become a world-class operator, he said.

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.

SPEEDREAD


Today's Headlines

The most important news stories of the day, curated by Post editors and delivered every morning.

Google reCaptcha: Invalid site key.

By signing up you agree to our Terms of Use and Privacy Policy.

MORE FROM THE POST