Saudi Arabia’s Mining Sector Grows 3.1% during 1Q of 2020, Targets SR240 b by 2030

Saudi newspapers
Saudi newspapers

Saudi Arabia's mining sector will be solid economic future of the Kingdom of Saudi Arabia which has 6 percent of the world's uranium reserves, in addition to gold, silver, copper, phosphates, and other metals, Al-Eqtisadiah newspaper reported.

As Saudi Arabia is making industrial and economic diversification, the metals and mining sector has great growth during the past years and enjoyed tremendous growth opportunities in line with the Kingdom's vision 2030, the paper said.

The paper explained that in spite of the exceptional circumstances of Coronavirus pandemic which stopped the growth of all sectors, the mining sector appeared completely contrary and grew 3.1% during the 1Q of this year.

The paper concluded by explaining that this sector will raise its contributions to Saudi Arabia's GDP to SAR 240 billion, and contribute to reducing imports by about SAR 37 billion, as well as generate more than 200 thousand jobs directly and not directly by 2030.

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