Top industry leaders expect that Chinese investors will be briefed on the prospects of the local mining industry during the upcoming visit of King Salman to China.
Abdullah Al-Meleihi, board member of the Council of Saudi Chambers of Commerce and Industry (CSCCI), stressed the importance of encouraging foreign and local investors to infuse capital in the local mining sector.
He said this would result in a massive capital infusion to develop the Saudi mining industry.
Saleh Al-Sultan, business consultant in the public and private sectors, said the Saudi mining sector is promising and faces bright prospects. He added the Kingdom is rich in mineral resources.
However, Al-Sultan suggested that aside from Chinese business leaders, investors in other countries included in King Salman’s itinerary should also be invited to provide capital in the Saudi mining sector.
Al-Meleihi, who is also the chairman of the Al Ramez International Group, said Chinese business leaders are expected to be invited by the Saudi business delegation to visit the Kingdom for investment purposes.
He said that the field of mining in the Kingdom is wide and explorations have shown that there are huge mineral resources of copper, aluminum, gold and other minerals.
He said, “This is a solid platform that enhances the path of Saudi Vision 2030 and serves as a channel to diversify and generates money as well as providing jobs and opportunities for diverse industries.”
He said that the mining sector will create numerous jobs and generate more than SR97 billion ($28 billion) in annual revenue at a time when studies have shown that Saudi Arabia owns 6 percent of uranium reserves in the world.