One of the biggest copper stocks in the world found in KSA

[Al-Andalus]

Hundreds of tons of copper discovered in the Kingdom​

Dec 9, 2016

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THE Saudi Geological Survey (SGS) has discovered hundreds of tons of copper in a 3,000 sq. meter surface, while mining processes shows many indications to the discovery of new gold mines that will significantly contribute in raising the total production of the Kingdom to more than 10 ton annually.

These discoveries will support the Saudi Vision 2030 in relying on non-oil revenues and will remarkably contribute in maximizing the production of copper in sync with the new strategy to establish a copper smelter to provide all the copper-based industries with their main primary material.

Zohair A. Nawab, SGS president told Asharq Al-Awsat that the authority has carried on surveys and processes of mineral mining in a surface of two million sq. km and succeeded with its experts in discovering many important sites, which are expected to remarkably contribute in growing the Saudi economy.

Zuhair added that the government has worked on a strategy to promote mining investment by opening discovery perspectives for foreign investors; the plan to attract specialized international company in this field was set and many mining and excavation authorizations will be issued for these companies in correspondence with the Vision 2030.

Nawab said that the recent search processes led to the discovery of one of the biggest copper stocks in the world; experts are currently working on determining quantities in specified zones, which will be opened for foreign investments in this field and which secures important revenues to the national economy.

The SGS president added that most of the Saudi Arabian production of copper does not provide primary materials, except for the mine located in the south of the Kingdom.

Nawab continued saying that the mining sector represents an important pillar in the national development because it opens different work fields.

The copper sector requires many investments to produce copper wires and mines that intervene in industries that are expected to increase the national supply and raise the value of the national economy.

Finally, Nawab assured that the Kingdom intends to expand the industrial sector and the excavation of mineral products including rare types as part of the government’s strategy for the coming phase based on the results of latest discoveries. — Al Arabiya English

http://saudigazette.com.sa/saudi-arabia/hundreds-tons-copper-discovered-kingdom/

Great news. Recently even more reserves of phosphate (KSA has some of the largest reserves in the world) were found as well and other valuable minerals. Given the nature of the mineral sector in KSA (vast, vast majority of KSA being unexplored - 12th largest country in the world) we can expect more useful "surprises".