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: Mahd ad Dahab, which means Cradle of Gold, is one of the oldest mining sites in Saudi Arabia. The country has also opened many new mines such as the As-Suq and Ad Duwayhi. A 740,000 Mt/yr capacity aluminum smelter has been constructed in Ras Az Zawr by the joint venture of Ma’aden and Alcoa Inc. of USA and is slated to start functioning in 2013. Al Masane Al Kobra Mining Co. (AMAK), which is owned by local investors and the Arabian American Development Co. of USA, had been involved in the Al Masane project till 2010 when it granted a 5-year contract for underground mine development and operations to China National Geological and Mining Corp. in 2011. The surface plant at the mine has been designed to produce 51,000 t/yr of zinc concentrate, 35,000 t/yr of copper concentrate, and a dore capable of containing 6,000 kg/yr of silver and 200 kg/yr of gold. In 2010, London Mining Plc of UK and National Mining Co. of Saudi Arabia agreed to handle the Wadi Sawawin iron ore project. Together the companies tried to attract funds for the proposed iron ore mine with a 5-Mt/yr-capacity iron ore pelletizing unit. Fossil Fuels
The petroleum industry of Saudi Arabia accounts for 80% of its budget revenues, 90% of its export earnings, and 45% of the country’s GDP. The country is a leading producer of oil and natural gas, and is ranked eighth in terms of petroleum refining capacity in the world. Discovery of new oil fields by Saudi Aramco such as the Arsan, the AsSayd, the Namlan, and the Qamran oilfields and the Jalamid gasfield in 2010 will likely further increase the country’s importance in the global petroleum sector and boost its revenue.