Saudi Arabia's mineral wealth could top $1.3 trillion amid Kingdom’s aggressive exploration plan

[ArabianEmpires&Caliphates]

Saudi mineral wealth could top $1.3 trillion amid Kingdom’s aggressive exploration plan​

Updated 31 January 2022
WAEL MAHDI
January 10, 2022

RIYADH: Saudi Arabia expects its mineral wealth to exceed earlier estimates of $1.3 trillion as the Kingdom plans to triple spending on the exploration of metals over the next three years, said the head of the organization responsible for assessing its geological potential.

Abdullah bin Muftar Al-Shamrani, CEO of the Saudi Geological Survey, said that this prior estimate was made a few years ago when prices of minerals were lower.

“Now we have seen that the price is increasing, it is expected that the forecast of...prices is really going to be increased because of that demand of those material,” he said in an exclusive interview with Arab News.

The aim is now to almost triple exploration spending per square meter to SR220 ($58.7) within the next two to three years.

The increased expenditure will “expedite the mining sector targets” and would help in discovering more locations. Al-Shamrani said that the Kingdom is going “aggressive” on exploration.

He added that the number of mining sites in the Kingdom could exceed 5,500.

Supporting a greener future

The Kingdom wants to be part of the global supply chain for raw materials that will go into many viable products to support industries such as renewable energy, he said.

It's now determined to develop all these resources with the help of international investors who will be in need for more data. The organization known as SGS has developed a huge database for this purpose.

When asked about the key minerals that Saudi Arabia possessed, the CEO said: “We are talking about cobalt, lithium, titanium, rare earth — all of those will make the future more sustainable if they are used efficiently. The future is talking all about the renewable energy and the good thing [..] is that Saudi Arabia has those minerals.” He said that they are crucial in the global transition to cleaner sources of power.

Other strategic minerals include copper, zinc and Saudi silica, the latter being one of the most highly concentrated around the world. However, it is not only renewable energy-related minerals that are in abundance in the Kingdom.

“When we talk about minerals in Saudi Arabia, we’re talking about around 48 minerals. Some of them are very critical for global needs,” he said. Some minerals, such as phosphate — which is used for fertilizers — are important to fulfill goals such as food security.

He confirmed the Kingdom’s “very good potential” for specific traditional minerals including gold and silver.

Sudden Change

When asked about why the mining sector seemed to take a back seat in previous years, Al-Shamrani replied that exploration spending in the past decade was not enough to focus on the investment potential in the sector.

“But when Vision 2030 indicated that the mining sector should be the third pillar of the country’s industry, a good amount — around SR3.8 billion — was injected into the mining sector.” The aim of this spending, he said, was to invest in the sector to discover opportunities all around the country.

The CEO hopes three points will be agreed on by attendees at next week’s Future Minerals Forum. The first of these is to work out the demand for minerals in the upcoming 10 to 30 years.

The second is to see how these needs will be satisfied. The third is to make sure people are more educated about sustainability and efficiency.

Saudi Arabia is trying to attract a mix of local and international investors in mining opportunities. Al-Shamrani assured international investors that the sector will follow internationally recognized ESG guidelines.

He said certain conditions are being put on the mining sector as the Kingdom pursues its goal of reducing its carbon footprint and becoming carbon neutral by 2060.

“We understand the challenges the mining sector is facing,” Al-Shamrani said.

Saudi Arabia is placing certain conditions on the mining sector as it pursues its 2060 vision of reducing its carbon footprint. (Supplied)
FMF 2022

Riyadh will host this week its first future minerals forum that will attract top industry players and ministers from many countries.

The CEO had three things in mind that he hopes will be agreed upon by attendees in the Future Minerals Forum.

The first of these is to discover minerals’ needs in the upcoming 10 to 30 years. Secondly, it should be pointed out how these needs would be satisfied. The final thing is making sure that people are more educated about sustainability and efficiency.

FASTFACT​

Saudi Arabia is trying to attract a mix of local and international investors in mining opportunities. Al-Shamrani assured international investors that the sector will follow ESG guidelines.

Serving society

“We are full of minerals that will serve humanity around the globe, and within Saudi Arabia,” Al-Shamrani said.
An advantage of the mining industry is that it’s not concentrated in the cities, and with more projects in remote areas, it can help to limit rural-urban migration across the Kingdom.
He cited examples such as Waad Al Shamal, Mahd Al Dahab (Cradle of Gold) and Jabal Sayid; all were virtually empty before but were later developed.

Saudi mineral wealth could top $1.3 trillion amid Kingdom’s aggressive exploration plan

RIYADH: Saudi Arabia expects its mineral wealth to exceed earlier estimates of $1.3 trillion as the Kingdom plans to triple spending on the exploration of metals over the next three years, said the head of the organization responsible for assessing its geological potential. Abdullah bin Muftar...

www.arabnews.com

Bonus video:

The Arabian-Nubian Shield is the world's next mining destination​

Arabian-Nubian Shield - Wikipedia

en.wikipedia.org

 

[ArabianEmpires&Caliphates]

The history of Saudi Arabian gold

May 5, 2017
Saudi Gazette report
Mahd Al Dahab

GOLD has been used for coinage, jewelry and adornments throughout recorded history.

Goldsmithery is one of the oldest trades that showcased man’s artistic creativity. It can be traced back to the time of the pharaohs of Egypt.

Requiring great skill and patience, today the Kingdom has goldsmithery institutes that teach the intricate technical and creative skills of the art, Al-Riyadh daily reports.

Gold is used in making jewelry and other ornaments. It is also commonly used in dentistry and electronics. One of the reasons gold is used in dentistry, especially as gold teeth, is because of its durability.

As a metal, gold is soft but durable, particularly if combined with another non-toxic metal. Gold teeth are usually strong and last long.

The use of gold in electronics is due to its excellent electrical conductivity and reliability. It is used in conductors, switches, connecting wires and many other electronic components.

First gold mine

Gold was first mined in Arabia approximately 3000 BC. A second period of activity was during the Islamic Abbasid period between 750 and 1258 AD.

Extraction of gold started in the Kingdom during the era of King Abdulaziz, particularly between 1939 and 1954, at Mahd Al-Dhahab after the deposit was rediscovered in 1932.

The city, about 380 kilometers northeast of in Madinah province in the western region of the country, is situated at 1060 meters above sea level. Mining is carried out by underground methods with a total tunnel development in excess of 60km and a metallurgical plant.

Translated as the Cradle of Gold, Mahd Al-Dhahab was the first gold mine in the modern Saudi Arabia. In 2007, Mahd Al-Dhahab mined and processed approximately 183,425 tons of ore at a grade of 11.1 grams per ton of gold from underground operations, resulting in gold production of approximately 58,256 ounces.

In addition, the mine also processes reclaimed tailings and produces copper and zinc concentrates for third party toll smelting.

The Saudi government established the Saudi Arabian Mining Company in 1997 as a joint stock company with a capital of SR4 billion to operate five mines across the country. The company has expanded its business operations to include the development of phosphate, aluminum and other precious minerals.

Karat is the unit used to measure how pure a piece of gold is and it is abbreviated as “kt or K”. Usually, 24K gold is very expensive as it contains pure gold while 22K gold implies that 22 parts of the jewelry is gold and the remaining two parts are some other metal like silver, nickel, zinc and other alloys. The same thing applies to 18K gold, which consists of 18 parts of pure gold.

It is common for Saudi men to give their future wives dowry in gold. When a man proposes to a woman and when her parents and she accept, the man buys gold jewelry and presents it to his fiancée.

Gold remains the preferred gift for Saudi women even after marriage, especially during birthday parties, pregnancy parties and wedding anniversaries.

The Technical and Vocational Training Corporation (TVTC) offers diplomas in goldsmithery because the labor market is in dire need for goldsmiths, both men and women. The TVTC diploma program focuses on women because they are more likely than men to consider a life-long career in the field.

http://saudigazette.com.sa/saudi-arabia/history-saudi-gold/

Gold mines and gold used for jewelry occurred in Arabia almost simultaneously to events in neighboring Egypt.

The oldest known map of a gold mine was drawn in the 19th Dynasty of Ancient Egypt (1320–1200 BCE), whereas the first written reference to gold was recorded in the 12th Dynasty around 1900 BCE.[86] Egyptian hieroglyphs from as early as 2600 BC describe gold, which King Tushratta of the Mitanni claimed was "more plentiful than dirt" in Egypt.[87] Egypt and especially Nubiahad the resources to make them major gold-producing areas for much of history. One of the earliest known maps, known as the Turin Papyrus Map, shows the plan of a gold mine in Nubia together with indications of the local geology. The primitive working methods are described by both Strabo and Diodorus Siculus, and included fire-setting. Large mines were also present across the Red Sea in what is now Saudi Arabia.

https://en.wikipedia.org/wiki/Gold#Cultural_history

The largest ancient gold mine in the Middle East is also located in Saudi Arabia (Hijaz). It is called Madh Al-Dhabab and it is known as the "cradle of gold".

There is a possibility that the Cradle of Gold is mentioned in the Biblical story of the Garden of Eden in The Book of Genesis. - "And a river went out of Eden to water the garden; and from thence it was parted, and became into four heads. The name of the first is Pishon: that is it which compasseth the whole land of Havilah, where there is gold; And the gold of that land is good: there is bdellium and the onyx stone." Research by archaeologists Juris Zarins of Missouri State University and Farouk El-Baz of Boston University indicates that the Pishon River may be the now dried up river bed that once flowed 600 miles north east from the Mahd adh-Dhahab area of the Hejaz c. 3000 BC.[1]

The site has also been identified with "King Solomon's Gold Mine."[2] Geologists have found a vast abandoned gold mine. Among their finds are huge quantities of waste rock, an estimated million tons, left by the ancient miners, still containing traces of gold. Thousands of stone hammers and grindstones used to extract the gold from the ore litter the mine slopes. Robert W. Luce said: "Our investigations have now confirmed that the old mine could have been as rich as described in biblical accounts."

https://en.wikipedia.org/wiki/Mahd_adh_Dhahab

Gold jewelry is also used as part of traditional clothing (attire) for women in every single historical region of KSA and Arabia. Arabian women used to wear the most gold as part of their traditional attire in the entire Arab world and probably/most likely the entire Middle East as well.

Examples of elaborate traditional clothing.







Anyway the potential of KSA's mineral wealth is enormous.

 

[Titanium100]

Where have you been?

 

[ArabianEmpires&Caliphates]

Where have you been?

Very busy with life (family life, work etc.) in general. Just stopping by. It's been almost 2 years (COVID-19 and all) since my last visit. Hope everyone is doing well. Is PDF still Arab-obsessed as usual or is that "disease" on the retreat?

 

[Maula Jatt]

MA

 

[Indos]

Very busy with life (family life, work etc.) in general. Just stopping by. It's been almost 2 years (COVID-19 and all) since my last visit. Hope everyone is doing well. Is PDF still Arab-obsessed as usual or is that "disease" on the retreat?

Well come back brother

 

[lastofthepatriots]

Well come back brother

View attachment 814324

That glass better be abble juice bradar.

 

[Indos]

That glass better be abble juice bradar.

Well, it is the only available online, personally I am not an alcohol drinker, the last time I drink Alcohol was in university for couple of beers, that was when my spirituality was falling.

 

[Saddam Hussein]

Well, it is the only available online, personally I am not an alcohol drinker, the last time I drink Alcohol was in university for couple of beers, that was when my spirituality was falling.

I bet you're SHIA innit

 

[ArabianEmpires&Caliphates]

Well come back brother

View attachment 814324

Good to see you around as well brother and I hope that everything is well.

That glass better be abble juice bradar.

As per the new directives from MBS, Arak is obligatory and if consumed with a cousin (Yahud) it gives you extra credit. SEMITIC POWER! TEAM PROPHETS! TEAM CRADLE OF CIVILIZATION! TEAM MONEY!

 

[Maula Jatt]

I bet you're SHIA innit

You can chat all you want but you are chatting all s....

 

[ArabianEmpires&Caliphates]

I bet you're SHIA innit

Saudi Arabia should become the official Shia capital of the world. All the most beloved individuals of Shia Islam are Arabs from modern-day KSA or individuals with ancestral ties. The oldest Shia communities are in KSA. KSA is the only Muslim country in the world where all 3 main Shia sects are indigenous (Twelver, Zaydi, Ismaili).
Southern Iraq could merge with KSA (to remove any possible rivalry) and MBS should start aggressively branding KSA as the "Shia center of the universe". We need to rebuilt some demolished shrines and make a business out of it. We are all Shias, we just don't know it yet.

 

[Saddam Hussein]

Saudi Arabia should become the official Shia capital of the world. All the most beloved individuals of Shia Islam are Arabs from modern-day KSA or individuals with ancestral ties. The oldest Shia communities are in KSA. KSA is the only Muslim country in the world where all 3 main Shia sects are indigenous (Twelver, Zaydi, Ismaili).
Southern Iraq could merge with KSA (to remove any possible rivalry) and MBS should start aggressively branding KSA as the "Shia center of the universe". We need to rebuilt some demolished shrines and make a business out of it. We are all Shias, we just don't know it yet.

Iraq is suppost to be the Shia capital given Karbala and najaf, however erasing Shiism in favor of effectiveness (unified religion) is better.

Any news on Iraq-Saudi stuff @ArabianEmpires&Caliphates

 

[SaadH]

Saudi Arabia should become the official Shia capital of the world. All the most beloved individuals of Shia Islam are Arabs from modern-day KSA or individuals with ancestral ties. The oldest Shia communities are in KSA. KSA is the only Muslim country in the world where all 3 main Shia sects are indigenous (Twelver, Zaydi, Ismaili).
Southern Iraq could merge with KSA (to remove any possible rivalry) and MBS should start aggressively branding KSA as the "Shia center of the universe". We need to rebuilt some demolished shrines and make a business out of it. We are all Shias, we just don't know it yet.

Pakistani shrine worshippers can give any Shia or aspirants a run for their money. 200 mn strong shrine worshippers in Pakistan.

 

[ArabianEmpires&Caliphates]

Iraq is suppost to be the Shia capital given Karbala and najaf, however erasing Shiism in favor of effectiveness (unified religion) is better.

Any news on Iraq-Saudi stuff @ArabianEmpires&Caliphates

I was just having a laugh but in all seriousness, post-2015 the "Shia regions" of KSA and its people are part of the national mosaic as any other region, including the heartlands of Najd. National unity (nationalism) is on the rise instead and people from different regions of KSA are getting exposed to other regions and their traditions. Hence there not being any real sectarian problems in KSA.

Even "official pages" such as this one below emphasize the great diversity in KSA that was always there but was never really told outside of it and sometimes even inside KSA (from certain religious circles).

Explore Saudi Arabia

Explore Saudi Arabia’s ancient heritage and culture, breathtaking outdoor activities and delicious local food. Plan your trip in Saudi today!

www.visitsaudi.com

Well its been 2 years since my last visit but to summarize it, I think that relations are overall good and only getting better.

2 weeks ago:

• 25 Jan 2022 | 13:14 UTC

Saudi Arabia, Iraq sign agreement to link electrical power grids​

Saudi Arabia, Iraq sign agreement to link electrical power grids

Saudi Arabia and Iraq signed a memorandum of understanding Jan. 25 to connect their electricity grids, as OPEC's two largest oil producers work together to help reduce Baghdad's dependence on Iranian

www.spglobal.com

The border crossings are working, daily flights are taking place and trade increases each month. Of course, as with any Arab cooperation, there could be improvements but it is better than in any period since 2003. I notice increasing (it was always there) Saudi Arabian-Iraqi affinity on social media so that is a positive as it means that people-to-people relations were never really bad. How could they given the close ancestral, family, linguistic, tribal, religious, geographical, cultural etc. connections?

Anyway the greater the economic cooperation gets between countries the higher are the prospects for peace and mutually beneficial cooperation.

Pakistani shrine worshippers can give any Shia or aspirants a run for their money. 200 mn strong shrine worshippers in Pakistan.

I once read that there are (or were) even shrines for rats!

Children are transformed into “Rats” at a Sufi shrine in Pakistan

There are many things done in the name of religion, some might be correct and some can be denounced very easily. In Pakistan, religion holds significant importance and with religion come many different rituals followed by different segments of society. This is the story of Gujrat’s Shah Daula...

millichronicle.com

I have noticed that many "Sufi" sects in non-Arab countries create some kind of fusion between Islam and native pagan/pre-Islamic beliefs creating absurdities such as the one above. We witness something similar in a certain regional country (without mentioning any names) and their "religious construction". I think not being a native Arabic speaker could have a say here, hence it being easier to distort Islamic teachings to gullible people.