Saudi Arabia is looking at & # 39; doubling mining income by 2030



Saudi Arabia aims to increase the mining department's contribution to $ 64 billion from $ 17 billion by 2030, Saudi Energy Minister Khalid al-Falih said Monday.

"We are trying to improve the mining department by implementing a broad strategy that aims to reorganize the department and build what it is adding GDP from 17 billion to 64 billion at present and creating 160,000 jobs by 2030, "Al-Falih said to a conference on the mining industry in Cairo.

King Salman bin Abdul Aziz introduced the basic stone on the week presented for the Northern Mineral Promotion Project, and it is expected that 24 billion royalty ($ 6.4 billion) a year will increase non-oil GDP the kingdom.

Saudi Arabia is replacing 85 billion securities in the project, which will. covering a 440 square kilometer area for mineral businesses in the northern area, said the Ministry of Industry and Mineral Resources.

Completion of the first phase of the project will be & # 39; Raw Saudi Arabia's phosphate yield to 9 million tonnes per annum and make it the largest producer in the world of phosphate compounds.

Construction began in the Waad al-Shamal city in 2014, following the decision of the Council of Ministers.

The Waad industrial village is based on mineral division projects, especially aluminum, phosphates and fertilizers

Mineralization is essential for the efforts of the country to expand its economy from oil and gas, as the government aims to help it in the duplication of the country's economy.

These initiatives are part of the "2030 vision" which Prince Murray of Prince Mohammed bin Salman has on to stop the independence of the Saudi economy, the largest in the Arab region, oil by diversify sources.


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