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Asharq Al-Awsat
Asharq Al-Awsat
Business
Jeddah - Saeed al-Abyad

Price Hike Doubles Value of Mineral Wealth in Saudi Arabia

Ahmed Al Saudi Arabia copper Mining SGS Asharq AlAwsat Gold Medina
CEO of Saudi Geological Survey (SGS) Ahmed al-Shamrani (Asharq Al-Awsat)

The value of the Saudi mineral wealth, estimated several years ago at about SR5 trillion, has doubled with the increase in the price of minerals, especially gold, copper, and zinc, CEO of Saudi Geological Survey (SGS) Ahmed al-Shamrani has announced.

The numbers boost the value of the Saudi economy, especially in the mining sector, which is currently witnessing the competition of 13 local and foreign companies to win a license for the Umm al-Damar mining site in Medina.

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