Saudi Arabia’s mining revenues hit SR18 billion

March 8, 2015 8:10 am

The total revenues of licensed companies working in the field of mining exploitation in Saudi Arabia amounted to about SR18 billion, reports Saudi-based Argaam citing an official.

During the last session of the two-day economic forum in the city of Jazan, Sultan J Shawli, deputy minister for mineral resources, said the total net profit of these licensed companies has hit SR8 billion.

He said the total number of valid mining licenses until the end of 2014 amounted to about 1,800 licenses, and 420 million tonnes have been exploited.

Shawli said Jazan is one of the important areas in the field of mining, revealing that one of its most important elements is salt which is located in domes, one of them is 1km diameter and 1,500m wide, with 30 million tonnes of stockpile in a concentration of 97 per cent sodium chloride, and there is also a salt dome in Ra’s Hasis at Fursan Island.

Minerals discovered in Jazan include potash, which can be used as fertilizer, silica sand in Southeast Jazan, limestone in Um Al Araj which is being exploited by Southern Province Cement and Gypsum Company in the dome of Jazan, and dolomite and marble in Al Darb area northwest of Jazan.

The Ministry of Petroleum has booked ten (227 square kilometres) deposits for mining activities.


AMEinfo Staff
By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.