Saudi Arabia possesses reserve of precious minerals and metals worth $1.3 trillion

Gulf: A recent Wall Street Journal report has revealed that Saudi Arabia has doubled its strength with the largest discovery of precious metals and global mining companies move. 

Saudi Arabia possesses reserve of precious minerals and metals worth $1.3 trillion (image credits Facebook)
Saudi Arabia possesses reserve of precious minerals and metals worth $1.3 trillion (image credits Facebook)

Gulf: A recent Wall Street Journal report has revealed that Saudi Arabia has doubled its strength with the largest discovery of precious metals and global mining companies move. 

Saudi Arabia holds a large stockpile and reserve of precious minerals and metals worth nearly 1.3 trillion dollars, ranging from phosphate, gold, copper, zinc, nickel, uranium and metals used in the technological industries.

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As per the latest information, the Mysterious Riches of Saudi Arabia connects directly to Riyadh, which is prompted to engage in a large-scale campaign to attract major mining companies from around the world to start exploiting their so-called untapped mineral stocks, or at least in part The big one of it.

In addition, it is a well-established fact that Riyadh is known as the largest oil source in the world, which started years ago, directing the economy in new directions with the motive of building world-class oil-based industrial models.

Furthermore, Saudi Arabia has announced mysterious discoveries in the region since 2021, including natural resources such as copper, zinc, phosphate, uranium and gold. 

Saudi Arabia is expected to launch its new inventory survey by 2027 – to exploit the new wealth of about 1.3 trillion dollars.

In this context, the Saudi Ministry of Industry and Mineral Resources has revealed the details of 6 mining opportunities in the Kingdom to global and local investors. Said reports. 

The investment facilities have included several detection licenses for the Al-Radiniyah site, with an area of more than 78 square kilometres, including zinc and silver deposits.

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The reports have also stated that the site of Umm Hadid is considered the most important mineral-rich site, with an area of more than 246 square kilometres; the site includes a large-scale warehouse of silver, lead, zinc and copper.

Moreover, Mount Edas covers more than 121 square kilometres and contains rich iron ore deposits. In contrast, the site of a “well deep” in Medina has an area of more than 187 square kilometres and includes deposits of copper and zinc.

Moving forward, the reports mentioned that the “Jabal Al-Sahaiba” site in the Asir region is settled and increased its area by 283 square kilometres, and contains a storehouse of zinc, lead, copper and iron.

Additionally, an area of 139 square kilometres is dedicated to an unidentified location which contains the valuable minerals of copper, zinc, gold and lead, as per the reports. 

An international mining conference was hosted in Riyadh, the capital of Saudi Arabia, last Thursday, where 12 thousand of participants from 130 countries attended the meeting.

The conference focused on expanding the essential minerals’ success and operations to meet the demands needed for a clean energy transition. Said authorities. Mohammed bin Salman of Saudi Arabia is considered the mystical riches of the nation.

 

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