Reservoirs of Lucre

EditorWhat is continuously fuelling the growing economy of Saudi Arabia is the fact that in addition to its large reserves of crude oil, it is also extensively rich in mineral resources. Gold, silver, bauxite, copper, iron, lead, tin et al are found in huge quantities in the country. There are around 600 sites where gold has been found. The Saudi government has realised the importance of its position, and thus, started a ministry dedicated to mining in 1997. Thanks to this initiative, more than 400 tonnes of minerals are mined everyday, at present. Undoubtedly, this is precisely the reason behind the growing attractiveness of the region for power generation. In 2005, Saudi Arabia exported metals and minerals worth $1463.1 million. China, US and India have emerged as major importers over the years. The government is proceeding with the sale of some assets of state-owned Saudi Arabian Mining Company (Maaden) to private players to bring about a boom in the sector. Both local and foreign investment is being encouraged.


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Source: IIPM Publication, Editor: Arindam Chaudhuri