Saudi Arabia to invest over $50bn in its mining sector
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Saudi Arabia to invest over $50bn in its mining sector

Saudi Arabia to invest over $50bn in its mining sector

Saudi oil minister Ali al-Naimi has said the kingdom is investing more than $50bn in its mining sector, Zawya Dow Jones has reported. Saudi Arabia has issued more than 1,700 mining licences covering an area of 73,000 km, al-Naimi said in a speech in Khartoum, Sudan. The Arab world possesses large deposits of various minerals, but investment in minerals and strategic metals in the region is still "in its infancy" due to lack of expertise, and infrastructure as well as price volatility, he added.

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