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

[peagle]

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

View attachment 814313



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.

View attachment 814310
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

Jews may be considered as the blessed people, in religious parlance,
but, Saudi Arabia truly is a blessed land.

Good luck, guys, make it count.

 

[ArabianEmpires&Caliphates]

@ArabianEmpires&Caliphates I assume that the food that is grown in KSA is a lot more expensive than the food that it imports from places like Pakistan, India and Bangladesh etc.

Correct. Even locally grown Arabian coffee (coffee was first used by Arabs in Sufi monasteries in what is today Southern KSA and Northern Yemen) is more expensive than say Brazilian coffee. Pakistani mangos are also cheaper than local mangos from Jazan (for example). Tunisian extra virgin olive oil is cheaper than local Saudi Arabian extra virgin olive oil (despite KSA having the largest olive farm in the world in Al-Jawf province in the North).

https://english.alarabiya.net/business/economy/2018/05/03/Saudi-olive-tree-farm-sets-Guinness-Records-for-largest-in-the-wor

In the 1970's and 1980's KSA was one of the largest wheat exporters in the world (yes - may I refer to the two videos that I posted) rivaling giants like the USSR and USA but it was unfeasible to continue the production due to water decrease in the local aquifers.

KSA is leading in terms of seawater desalination and although technology keeps improving and thus reduces the costs, it is expensive.

Anyway one of the solutions is to turn the mostly flat coastal terrrain of Hijaz and the South (Tihamah) into a fertile agricultural paradise just by tapping the rainwater that flows into the Red Sea from the nearby mountain ranges in Hijaz and the South. That alone (tapping the rainwater successfully) could transform an mostly arid area the size of Romania into fertile lands.

That entire green coastal strip along the Red Sea, is what I and experts are talking about.

 

[HttpError]

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?

Welcome Back Caliph.

 

[SaadH]

At the current oil price, the Saudi oil wealth is over $20 trillion, this is a drop in the bucket compared to that.

 

[Wergeland]

Well, this is the nature of the internet. More people than ever in history can have an opinion and voice it. Unfortunately one of the consequences of that is that idiots, everywhere in the world, have access to online platforms. Twitter is a great example of this unfortunate trend.

Nice to speak to a Bangladeshi brother. A geologist at that too.

KSA, much like Norway and Scandinavia in general, is a welfare state. I would claim a bigger one on many fronts given the almost complete lack of a taxation in KSA. Anyone can take a look at the per capita of the ordinary Saudi Arabian, the infrastructure in the country and general living standards and conclude whether the leaders invest in the country or not. I for once won't complain considering what could have been and nobody in KSA, the GCC or Scandinavia for that matter should although many things could improve in all 3 regions/countries. That is obvious.

Actually KSA has agricultural areas the size of medium-sized countries. KSA is also almost self-sufficient in terms of food expect for the most water intensive corps and foods/corps that are not economically feasible on the long run.

Speaking about agriculture in KSA, take a look at those 2 threads: (Just make a quick search on PDF)

Olive and olive oil production in KSA

Al-Jouf olive fest opens today Last updated: Tuesday, January 15, 2013 4:13 PM Abdul Aziz Abdul Wahid Saudi Gazette AL-JOUF — Under the support of Al-Jouf Emir Prince Fahd bin Badr, the province’s sixth annual olive festival will open on Tuesday evening at the Civilization Center in the town...

defence.pk

The Filāḥa Texts Project - An Introduction to the Cradle of Agriculture (Arab World)

Husbandry is the foundation of civilization - all sustenance derives from it, as well as the principal benefits and blessings that civilization brings" Ibn ‘Abdūn in his treatise on Ḥisba, c. 1147, Seville An Introductory Survey of the Arabic Books of Filāḥa and Farming Almanacs [Full...

defence.pk

And you will be surprised to learn that KSA produces one of the most expensive rice in the world (if not the most expensive) in the Eastern Province.

PHOTOS: This Saudi Arabian rice is world's most expensive

PHOTOS: This Saudi Arabian rice is world's most expensive The hesawi red rice grown in Saudi Arabia. (Supplied) By Ibrahim al-Hussein, Al Arabiya.net – Al-Ahsa Monday, 27 February 2017 The city of Al-Ahsa in the Saudi Arabian eastern region is well-known for its hesawi red rice, which is the...

defence.pk

13 million views on Youtube. Quite impressive.

Agree
Internet removes the fear of reprecussion and that makes people less afraid to say stupid stuff.

Nice to meet you too brother.

From my knowledge Saudi Arabia used to provide free money for young couples to get married and housing too. Which is very generous. Saudi Arabia is blessed with natural recources and it will be exciting to see what more discoveries there is to come. The recently expanded agricultural land must have massive development. You have so much availible land and more agricultural land means there will be abundant crops, which also can sustain more inhabitants if necessary.

Norway has become more strict on welfare scheems compared to late 80’s and 90’s. Many were abusing the system and people stopped working and got lazy. The government had enough and nowdays its much more regulated.

Saudi Arabia is on my list of countries i want to visit, InshAllah one day.

At the current oil price, the Saudi oil wealth is over $20 trillion, this is a drop in the bucket compared to that.

Thats why i had a thought experiment where most of most Arabia was terraformed into a Savannah and pasture lands. Then it could sustain a population of hundreds of millions of people. Then you give those people horses and visionary leaders and generals and then….. well i stop there

 

[farok84]

I am pleased to see that KSA has its own mining firm. Pakistan also has a lot of minerals and precious metals waiting to be mined in Balochistan. I wonder why Pakistan has collaborated with KSA for mining them. @farok84 Brother are you familiar with the mining scene in Pakistan.

Hi,
I am afraid I am not much knowledgeable on mining industry.

 

[waz]

Thank you brother. It is, Alhamdulillah. Wishing you the best and good to see you around here still going strong.

Jazakallah, yes still here by the Lord's grace. You back in Saudi or globetrotting?

 

[SaadH]

1000 times better than blow up cult, pretty much considered cancer around the globe
Parents get scared when their kids associate with this cult

Not really, blasphemy blood libel is also the forte of this takfiri cult as is fooling the masses by outlandish claims and fictitious stories and scams.

Your beloved Mumtaz Qadri and Sialkot lynching heroes (not the guy who tried to save the poor Sri Lankan) are all member of this shrine and saint worshipping cult.

 

[Tshering22]

Well, this is the nature of the internet. More people than ever in history can have an opinion and voice it. Unfortunately one of the consequences of that is that idiots, everywhere in the world, have access to online platforms. Twitter is a great example of this unfortunate trend.

Nice to speak to a Bangladeshi brother. A geologist at that too.

KSA, much like Norway and Scandinavia in general, is a welfare state. I would claim a bigger one on many fronts given the almost complete lack of a taxation in KSA. Anyone can take a look at the per capita of the ordinary Saudi Arabian, the infrastructure in the country and general living standards and conclude whether the leaders invest in the country or not. I for once won't complain considering what could have been and nobody in KSA, the GCC or Scandinavia for that matter should although many things could improve in all 3 regions/countries. That is obvious.

Actually KSA has agricultural areas the size of medium-sized countries. KSA is also almost self-sufficient in terms of food expect for the most water intensive corps and foods/corps that are not economically feasible on the long run.

Speaking about agriculture in KSA, take a look at those 2 threads: (Just make a quick search on PDF)

Olive and olive oil production in KSA

Al-Jouf olive fest opens today Last updated: Tuesday, January 15, 2013 4:13 PM Abdul Aziz Abdul Wahid Saudi Gazette AL-JOUF — Under the support of Al-Jouf Emir Prince Fahd bin Badr, the province’s sixth annual olive festival will open on Tuesday evening at the Civilization Center in the town...

defence.pk

The Filāḥa Texts Project - An Introduction to the Cradle of Agriculture (Arab World)

Husbandry is the foundation of civilization - all sustenance derives from it, as well as the principal benefits and blessings that civilization brings" Ibn ‘Abdūn in his treatise on Ḥisba, c. 1147, Seville An Introductory Survey of the Arabic Books of Filāḥa and Farming Almanacs [Full...

defence.pk

And you will be surprised to learn that KSA produces one of the most expensive rice in the world (if not the most expensive) in the Eastern Province.

PHOTOS: This Saudi Arabian rice is world's most expensive

PHOTOS: This Saudi Arabian rice is world's most expensive The hesawi red rice grown in Saudi Arabia. (Supplied) By Ibrahim al-Hussein, Al Arabiya.net – Al-Ahsa Monday, 27 February 2017 The city of Al-Ahsa in the Saudi Arabian eastern region is well-known for its hesawi red rice, which is the...

defence.pk

13 million views on Youtube. Quite impressive.

Wow! MBS is really transforming Saudi towards a sustainable future. Mining, agriculture, tourism, financial services, developing the Red Sea region..... This will create a wealth of job opportunities for millions of people and take KSA into a new era. All the best! Will check out these reports.

 

[Pak Nationalist]

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

View attachment 814313



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.

View attachment 814310
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

Wa'ad al shumaal (Promise of the North) near the Iraqi/Jordanian border is where lots of exciting stuff is happening. I regret not making it to Turaif when I had the opportunity.

 

[Maula Jatt]

Not really, blasphemy blood libel is also the forte of this takfiri cult as is fooling the masses by outlandish claims and fictitious stories and scams.

Your beloved Mumtaz Qadri and Sialkot lynching heroes are all member of this shrine and saint worshipping cult.

In the wiki page I shared
none of the so called grave worshipers were involved in this killings evil- almost all are you know who, some were Iran backed shia
blood is not on grave worshipers hand, yeah 7-8 lynching's (bad) over a decade long period happened (even now look how they have calmed the situation by even TLP condemning out of court blasphemy situation- meaning none of the groups ever truly go out of control and destruction mode for decades on end like some else) but are nothing compared to what other side does with targeted and vicious terrorism campaigns with dozens of terrorist group which has resulted in ruining the image of Muslim world for probably the next 100 years- unfixable damage
name me one terrorist group of grave worshipers? none
dozens from the other side even though they are a 15-20% minority

they bring violence and decay

 

[ArabianEmpires&Caliphates]

Jazakallah, yes still here by the Lord's grace. You back in Saudi or globetrotting?

A bit of both. A nomadic existence at times is great.

Wow! MBS is really transforming Saudi towards a sustainable future. Mining, agriculture, tourism, financial services, developing the Red Sea region..... This will create a wealth of job opportunities for millions of people and take KSA into a new era. All the best! Will check out these reports.

It has been an amazing journey so far. I would never have expected such profound changes (mostly for the good) within such a short time. There is an amazing buzz about KSA nowadays which reflects the demography (2/3 of the population is below 30). There is untold potential that is waiting to be tapped. I and millions of others were complaining for years while the potential was not being explored. Now we can safely say, Alhamdulillah, that things (on all fronts) are changing at a rapid speed.

A lot of hard work is still needed though, make no mistake.

My biggest wish is for that change to impact the wider Arab world. Starting with a lasting and peaceful solution to the problems in Yemen, Syria, Iraq, Libya etc. If this occurs, the region might once again regain some of its glorious past.

Wa'ad al shumaal (Promise of the North) near the Iraqi/Jordanian border is where lots of exciting stuff is happening. I regret not making it to Turaif when I had the opportunity.

That is true. This is also where the largest wind farms are or are being built. Large solar panel farms too. Great mineral wealth (phosphate and almost every valuable mineral that you can think of etc.)

However it really gets cold this time of the year and snowfall occurs on a yearly basis. This combined with the wind (if it is windy) and it at times makes Scandinavia a tropical paraside, lol.
A lot of wild untouched nature and sparsely populated lands but filled with many historical and pre-historic artifacts.

 

[Pak Nationalist]

A bit of both. A nomadic existence at times is great.


It has been an amazing journey so far. I would never have expected such profound changes (mostly for the good) within such a short time. There is an amazing buzz about KSA nowadays which reflects the demography (2/3 of the population is below 30). There is untold potential that is waiting to be tapped. I and millions of others were complaining for years while the potential was not being explored. Now we can safely say, Alhamdulillah, that things (on all fronts) are changing at a rapid speed.

A lot of hard work is still needed though, make no mistake.

My biggest wish is for that change to impact the wider Arab world. Starting with a lasting and peaceful solution to the problems in Yemen, Syria, Iraq, Libya etc. If this occurs, the region might once again regain some of its glorious past.


That is true. This is also where the largest wind farms are or are being built. Large solar panel farms too. Great mineral wealth (phosphate and almost every valuable mineral that you can think of etc.)

However it really gets cold this time of the year and snowfall occurs on a yearly basis. This combined with the wind (if it is windy) and it at times makes Scandinavia a tropical paraside, lol.
A lot of wild untouched nature and sparsely populated lands but filled with many historical and pre-historic artifacts.

I have been watching documentaries on some of these prehistoric sites. Then there's the Petra complex, of course. My company was supplying some constructions materials for leach ponds that get used in phosphate mining operations there. Ma'adin is a giant in the area of mineral wealth exploitation. KSA does not have to rely on ARAMCO anymore. It has giants like Ma'adin, SABIC, and hopefully more to follow.

 

[Tshering22]

A bit of both. A nomadic existence at times is great.


It has been an amazing journey so far. I would never have expected such profound changes (mostly for the good) within such a short time. There is an amazing buzz about KSA nowadays which reflects the demography (2/3 of the population is below 30). There is untold potential that is waiting to be tapped. I and millions of others were complaining for years while the potential was not being explored. Now we can safely say, Alhamdulillah, that things (on all fronts) are changing at a rapid speed.

A lot of hard work is still needed though, make no mistake.

My biggest wish is for that change to impact the wider Arab world. Starting with a lasting and peaceful solution to the problems in Yemen, Syria, Iraq, Libya etc. If this occurs, the region might once again regain some of its glorious past.


That is true. This is also where the largest wind farms are or are being built. Large solar panel farms too. Great mineral wealth (phosphate and almost every valuable mineral that you can think of etc.)

However it really gets cold this time of the year and snowfall occurs on a yearly basis. This combined with the wind (if it is windy) and it at times makes Scandinavia a tropical paraside, lol.
A lot of wild untouched nature and sparsely populated lands but filled with many historical and pre-historic artifacts.

The past has been the reason for a lot of discords and distrust. It would be the best option to start looking into the future without weighing the past. If hard work is what needs to be done, then do it with the intensity that other successful countries have done.

If you have hard work ahead, then that means there are plenty of opportunities to change everything that could not be changed in the past. Real estate, engineering, fintech, services, banking, R&D... the opportunities are limitless.

Show the others in your region why you can and should lead. Looking forward to see the changes.