Saudi Arabia logs SAR 1.3B in mining exploration spending in 5 yrs
Saudi Arabia invested SAR 1.3 billion in mineral exploration over the past five years, a significant sum in the sector, according to Abdulrahman Al-Balooshi, Deputy Minister for Mineral Resources at the Ministry of Industry and Mineral Resources.
Drilling activity in the Kingdom exceeded 500,000 meters in 2023 alone, Al-Balooshi told CNBC Arabia.
The number of exploration companies surged from six to 133 between 2018 and 2023, driven by improved geological data access and ministry incentives such as financial support and land allocations.
The ministry's focus is to expand geological data availability and attract more exploration firms to meet industrial needs. Saudi Arabia's geological survey program has completed 80% of its fieldwork, with 60% of the data now accessible via the National Geological Database. Access to data, land, and financing is key for explorers and investors.
The ministry plans to offer 50,000 square kilometers of mineralized belt areas for exploration this year, including gold and copper reserves, Al-Balooshi previously told Argaam.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Leaders
2 days ago
- Leaders
HRDF Wins Two Gold Awards at EMEA Customer Service Event
The Human Resources Development Fund (HRDF) has been honored with two prestigious Gold Awards at the EMEA Contact Center World Awards, recognizing its excellence in customer service. HRDF received the Gold Award for Best Contact Center and the Gold Award for Best Use of Social Media in Customer Experience across Europe, the Middle East, and Africa (EMEA). These achievements were announced during the regional conference held in Berlin, Germany, which brought together leading organizations to celebrate outstanding performance in customer service. HRDF earned these accolades after competing with numerous government bodies and companies from around the globe. Additionally, the rigorous evaluation process was conducted in multiple phases and aligned with top-tier international standards. Judging was carried out by a panel of global experts in customer service and contact center operations. As part of the conference, HRDF presented its approach to enhancing the customer journey through diverse communication platforms and responsive support services. Moreover, the Fund shared insights into its customer engagement strategies, real-time assistance capabilities, use of advanced technologies, performance metrics, and ongoing initiatives to improve access to its programs and services. These awards, along with HRDF's recent local and international recognitions, reflect its unwavering commitment to excellence, quality, and innovation in customer experience. They also underscore HRDF's dedication to boosting operational efficiency, fulfilling service expectations, and driving sustainable outcomes that contribute to the Fund's mission of developing a resilient national workforce—aligned with the goals of Saudi Vision 2030. Related Topics : Saudi Arabia HRDF's Expenditure Hits SAR 6.9 Billion in 9 Months NEOM Tech & Digital Co. Launches Major Cloud Infrastructure Project with Oracle 'Customer service' Jobs for Saudis Only Aqualia, NWC Redefine House Connection Services in Saudi Arabia Short link : Post Views: 19
Saudi Gazette
2 days ago
- Saudi Gazette
Al-Jadaan commends OPEC Fund's flexible response to global market fluctuations
Saudi Gazette report RIYADH — Minister of Finance Mohammed Al-Jadaan commended the flexibility of OPEC Fund for International Development in responding to global market fluctuations, saying that this has ensured the continued flow of available resources to countries and communities in need. Addressing the 46th Meeting of the Ministerial Council of the Fund in Vienna, Al-Jadaan praised the Fund's vision and alignment of its operations with global development priorities, including the Sustainable Development Goals (SDGs) and food security, while maintaining its core focus areas. The Ministerial Council, as the OPEC Fund's highest governing body, convenes annually to approve the fund's audited financial statements, annual activity reports, and any other items submitted by the management. Al-Jadaan also addressed the OPEC Fund Development Forum. The events brought together leaders, ministers, and heads of multilateral development finance institutions to discuss ways to strengthen responses to global challenges. The opening session of the forum emphasized the vital role of inclusive, equitable, and sustainable transitions in global development, exploring how strategic finance, innovative policies, and global cooperation—particularly through South-South partnerships—can drive progress across key global frameworks. In his speech at the inaugural session of the forum, Al-Jadaan emphasized that energy security is not a luxury but a fundamental pillar for achieving development and inclusive growth. Its absence, he said, disrupts vital sectors such as healthcare, education, economic productivity, environmental sustainability, water extraction, and food security. He noted that the pursuit of more secure and diverse energy sources has become more urgent than ever amid escalating geopolitical tensions, market volatility, and increasing global energy demand. Al-Jadaan called for a strategic move toward energy diversification and increased investment in clean energy technologies, as well as emerging energy technologies, such as Carbon Capture, Utilization, and Storage (CCUS), and encouraged the adoption of innovative financing solutions to accelerate energy access and enhance long-term energy security. He also reaffirmed Saudi Arabia's commitment to working with all its partners to enhance energy security and eliminate energy poverty, while continuing efforts to combat climate change. 'We have set an ambitious target to generate 50% of our electricity from renewable sources by 2030 and achieve net-zero emissions by 2060, under the Circular Carbon Economy framework,' he said.
Leaders
3 days ago
- Leaders
Saudi Arabia Sets New Guinness Records in Water Desalination Technology
Saudi Arabia has achieved remarkable milestones by breaking two Guinness World Records in water desalination technology. The Saudi Water Authority (SWA) received these prestigious certificates, showcasing the Kingdom's leadership in the global water sector. The records were presented during a ceremony at the SWA headquarters in Riyadh. Minister of Environment, Water and Agriculture Abdulrahman Alfadley attended the event, alongside a delegation from Guinness World Records, as reported by the Saudi Press Agency (SPA). The first record recognized the world's largest seawater desalination plant utilizing reverse osmosis (RO) technology. This facility is part of Phase II of the Al-Khobar Production System project. It boasts an impressive production capacity of 670,852.4 cubic meters per day. Notably, it was constructed on the smallest land area globally for a facility of its size. This achievement resulted from innovative technical methodologies and value engineering, with the official registration of this record occurred on 25 February, 2025. Lowest Energy Consumption Rate The second record highlights SWA's Technical Affairs and Projects Sector for achieving the lowest energy consumption rate for an RO-based desalination plant. This plant recorded an energy consumption rate of 1.7 kWh per cubic meter during the salt separation stage. Overall, the total energy consumption reached 2.34 kWh per cubic meter, marking the lowest ever documented worldwide. This significant achievement occurred during the construction of the Shuaibah Plant (Phase V) on April 22, 2025. The World Bank commended this accomplishment, which surpassed the Kingdom's previous record of 2.27 kWh per cubic meter. A Commitment to Sustainability These two recent achievements elevate SWA's total number of Guinness World Records to 11. This accomplishment further solidifies Saudi Arabia's position as a global center of excellence and innovation in the water sector. Moreover, it emphasizes the Kingdom's critical role in fostering a more sustainable future for water resources. As Saudi Arabia continues to lead in water desalination technology, it sets a benchmark for other nations to follow. Short link : Post Views: 30 Related Stories
