Merdeka.com – The government of Saudi Arabia announced the discovery of gold and copper treasures in the Medina area, precisely around Aba Al-Raha. The findings were found by the Saudi Geological Survey (SGS) on Thursday last week.
Not only gold and copper, but SGS also found copper ore sources located in four locations in the Al-Madiq area.
Quoted from Middle East Monitor, Tuesday (20/9), the new findings are expected to bring in local and international investment of USD 533 million or Rp. 8.3 trillion and create around 4,000 jobs.
This finding is believed to be able to help growth in Saudi Arabia’s mining sector. In addition, these findings can also help Crown Prince Mohammed bin Salman (MBS)’s 2030 vision which aims to diversify the Saudi Arabian economy.
Earlier in July, Saudi Arabia’s Minister of Industry and Mineral Resources, Khalid Al-Mudaifer, stated that his country had succeeded in attracting foreign capital for the mining industry worth more than USD 8 billion or Rp. 120.1 trillion.
In early 2022, Saudi Arabia said it wanted to attract $170 billion in foreign investment before the end of the decade. But the pace of development and mining has slowed since 2018, putting Saudi Arabia’s mineral resources at an estimated $1.7 trillion.
Intern Reporter: Theofilus Jose Setiawan [pan]
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