UNDERGROUND MINING
a plan called Vision 2030, spearheaded by Crown Prince Mohammed bin Salman, to diversify its economy away from oil. One of the industries that have been identified for expansion is mining. A $4 billion steel plate mill complex for the shipbuilding, oil and gas, construction, and defense industries, and a "green" flat steel complex for the automotive, food packaging, machinery and equipment, and other industrial sectors, are among the nine projects.
A Bundle of Fresh Mining Jobs in Saudi Arabia: 14500 in Planning According to the Saudi government, the new projects in the
Kingdom will generate over 14,500 employments, and the Ministry of Industry and Mineral Resources is now processing 145 exploration license applications from foreign corporations.
T
he Saudi Arabian Ministry of Industry and Mineral Resources announced that it had secured $6 billion in funding for a steel plate mill complex and an electric vehicle battery metals production as part of its aims to attract $32 billion in mining investment. As per a comment from the Ministry of Industry and Mineral Resources, the objective would fund 9 mining projects for midstream minerals and metals. Bandar Alkhorayef, Saudi Arabia's Minister of Industry and Mineral Resources stated that the ministry aims to attract 28 | SKILLINGS MINING REVIEW June 2022
$32 billion in investments to the country's mining and minerals sector through nine new projects. The Kingdom is investing hundreds of billions of dollars in Vision 2030 to diversify its economy away from oil. According to SPA, the initiatives will assist mineral product supply to local and worldwide markets. According to SPA, Alkhorayef said the ministry is presently reviewing 145 applications for exploration licenses from foreign businesses. Saudi Arabia is investing hundreds of billions of dollars in
Both projects, as well as a $2 billion EV battery metals plant, are currently underway. Last month, the Saudi government agreed to buy 50,000 to 100,000 electric vehicles from Lucid Group Inc, a company in which Saudi sovereign fund PIF maintains a majority position. The projects will create over 14,000 employment, according to the minister, who also stated that the ministry is currently processing 145 exploration license applications from foreign corporations. "These targeted investments are a significant 'down payment' in our attempts to move beyond exploration and extraction and toward the construction of integrated value chains, which is a fundamental emphasis of our entire mining strategy," al-Khorayef said in a statement. "The investments will help the Kingdom maintain its position as a mining production and logistics center for a region stretching from Africa to Asia, as well as promote the transformation of our mining sector to reach its full potential." Saudi Arabia's tourism minister told the United Nations that climate action is critical to ensuring the global tourism industry's long-term viability. Ahmed Al-Khateeb, speaking at the United Nations General Assembly's 76th
