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: Overview of Resources
Saudi Arabia has nearly one-fifth of the world's proven petroleum reserves. The government has exclusive rights over all the mineral deposits of the state. In 2010, the production of low-grade iron ore, low-grade bauxite, cement, clays, ethane, methane, propane, direct-reduced iron, lead, and pozzolana increased. The map of Saudi Arabia. Image Credit: CIA Factbook. Metals
Ma’aden and its subsidiaries Ma’aden Gold and Base Metals Co. (MGBM) and Saudi Company for Precious Metals are involved in exploration activities to locate precious metals and related minerals at many sites. MGBM currently operates five gold mines in Saudi Arabia and since 1988 has produced more than 4 million ounces of gold. KEFI Minerals, a gold and copper exploration company, has claimed to have located high grade gold and silver in the country after conducting several surveys. This discovery is likely to attract many investors.