SGS identifies 5,300 sites as ‘mineral rich’

JEDDAH: The Saudi Geological Survey (SGS) has discovered 5,300 sites in the Kingdom that are rich in minerals and can be tapped to help the Vision 2030 plan, says an official.
The mineral wealth — only 3 percent to 5 percent of which is being exploited — is expected to create 90,000 jobs and generate $67 billion annually, local media quoted SGS spokesman Tareq Aba Al-Khail as saying.
“The mineral wealth is distributed across the Kingdom in the Arabian shield and its continental shelf, and neighborhoods of coastal plains. They were exploring around 5,300 sites for mineral deposits, including industrial metals and rocks,” he said.
Al-Khail said these sites represent different types of mineral deposits such as iron, chromium, platinum, zinc, lead, copper and radioactive material.
He said the SGS is the responsible authority for research and excavation. It holds technical studies related to mineral wealth, which is be sent to the Ministry of Petroleum and Mineral Resources, which grants licenses to investors.
Al-Khail said investments in this field will provide technical and administrative jobs, particularly to nationals. Study, discovery and excavation of mineral wealth is a very big project, he added.