Title: Saudi Arabia: Mining, Minerals and Fuel Resources
Headings: Saudi Arabia: Mining, Minerals and Fuel Resources
Saudi Arabia: Mining, Minerals and Fuel Resources
Overview of Resources
Metals
Fossil Fuels
Investment
Sources
G.P. Thomas
Citations
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Content: Natural gas production in Saudi Arabia has been steadily increasing. This was evident in the years 2008, 2009 and 2010, when production was 86,158 million m 3 , 88,432 million m 3 and 95,032 million m 3, respectively. Investment
Saudi Arabia has taken several key measures to attract foreign funding. Some of them are as follows: Joining the WTO in 2005
Construction of six ‘economic cities’ around the country
Social development and infrastructure projects worth $373 billion to promote economic development between 2010 and 2014
According to recent reports, automation major Ventyx has inked a $2.8 million deal with MGBM as part of which the mining company will use Ventyx’s mining operations software solutions in its four existing mines to improve planning and performance of its gold mining operations. MGBM has massive expansion plans for its gold mines in the near future with several new projects to be launched soon. According to experts, Saudi Arabia will continue to be the most significant supplier of petroleum to meet the ever-increasing global demand. The government is now more open to private investment in mineral projects, which would definitely attract both domestic and international investors in the coming years. Disclaimer: The Author of this article does not imply any investment recommendation and some content is speculative in nature.