Brazil COVID-19 Deaths Reach 100,000 and Barrel Onward    Alliance to ward off expansionism    Health Ministry:We Continue Our Research and Conduct New Clinical Trial of Vaccine against Coronavirus    Hamriyah Free Zone announces opening of multi-functional offshore & repair facility    Saudi Ophthalmology 2020 Virtual Symposium Concludes Its Sessions    Rated GCC corporates to focus on preservation rather than growth    DXB Snow Run is a big hit as registrations close within a week of opening    Juventus Sacks Sarri After Exit UEFA Champions League    Arab League Secretary General Meets with Lebanese Officials    Wall Street Closing    SR1mn fine, 10-year jail for forced beggary, labor    Health Ministry: 1,469 New COVID-19 Cases, 1,492 New Recoveries Reported, in Saudi Arabia    Building a green economy, brick by brick    We can help the UN aid Lebanon's recovery    King, Crown Prince congratulate Singaporeans    HRH Crown Prince Congratulates President of Singapore on National Day    Angry volunteers chase out ministers visiting Beirut blast site    Turkish lira hits new lows    Trump to host Iraq's PM on Aug. 20    KSrelief Dispatches Third Saudi Airlift Plane to Lebanon to Help Victims of Beirut's Port Explosion    KSA Reviews Its Experience and Success in Providing Frequency Bands for 5G Technologies    First hospitals in US implant next-generation cardiac device to reduce risk of stroke    KSrelief airlifts aid to Lebanon to help Beirut blast victims    New humanitarian air service boosts COVID-19 response in the Pacific    Al-Nasr, Al-Hilal Fans Follow up Riyadh Derby, in various Cinemas, Venues    Saudi Pro League returns with goals, red cards and shock results    Woman infected with coronavirus gives birth to healthy triplets in Al-Jouf    Woman infected with coronavirus gives birth to healthy triplets in Al-Jouf    RGDHS to Bring Together Global Healthcare Innovators to Set Out Roadmap for Fighting Pandemics    Ebrahim Alkazi, India's theater legend, dies at 95    LaLiga Academy UAE launches its 2020/2021 season at its new home at DSC    Summer training camp perfect preparation for UAE's jiu-jitsu stars    India's top minister Amit Shah tests positive for coronavirus    Aubameyang double helps Arsenal beat Chelsea for 14th FA Cup trophy    Azra Aly, South African pilgrim: ‘The beginning of the rest of my life'    Paris Saint-Germain beats Lyon to win League Cup final    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    Islam calls for protecting communities against epidemics: Sheikh Al-Manea    Pilgrims Perform Dhuhr and Asr Prayers in Arafat Holy Site    Saudi Waste Management Center Signs MoU to Enhance Environmental Sustainability in Saudi Arabia    Cruise Ships on Saudi Arabia's Red Sea Coasts Launched    Muslims in UAE asked to perform Eid Al-Adha prayers at home    Complementary, Alternative Medicine Practicing 1st Manual Version Issued    Saudi Ithra center launches dialogue sessions with most famous creators in the world    SFDA Implements National Program to Ensure Safety of 10,000 Food Samples    Saudi Surgeon Managed to Remove Kuwaiti Girl's Brain Tumor, as French Physician Declined, in the last Moments    Senior Scholars Council Issues Decision No. 246 Regarding Attendance of Friday Prayer and Prayers at Mosques in a Case of Spread of Epidemic or Fear of its Spread    Custodian of the Two Holy Mosques Addresses Citizens and Muslims on Eid Al-Fitr    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Saudi gold production jumped 143% by 7.3 tons since 2016
Published in The Saudi Gazette on 08 - 07 - 2020

RIYADH — Saudi Arabia has increased its gold production by 143% (7.3 tons) since the launch of the Kingdom's Vision 2030 during the year 2016, reaching 12,350 kg in 2019, compared to about 5,090 kg in 2015.
This increase attributed to the focus of the Vision 2030 on developing the mining sector and increasing its contribution to the economy, which Crown Prince Muhammad Bin Salman considered as "another untapped oil."
According to the data, published by the Ministry of Energy, Industry and Mineral Resources, Saudi Arabia's gold production rose five percent last year, equivalent to about 588 kg, as production was 11,770 kg in 2018, Al-Eqtisadiah business daily reported.
Saudi Arabia's gold production increased by 176 percent, equivalent to 7,880 kg, in 10 years, as production was estimated at about 4,860 kg in 2009. The data shows a boom in mineral production in Saudi Arabia, in conjunction with the goal of Vision 2030 to develop the sector significantly.
Saudi silver production recorded an increase of five percent (266 kg) to 5,590 kg in 2019, compared to 5,320 kg in 2018. Since the launch of Vision 2030, silver production has increased 24 percent (1,090 kg) from 4,500 kg in 2015.
As for copper production, it increased last year by five percent (3,020 tons) to 63,300 tons in 2019, compared to 60,340 tons in 2018. Since the launch of the Vision, copper production increased by 37 percent (17,100) tons, as production was 46,250 tons in 2015.
There has been an increase of five percent (900 tons) in zinc production last year, reaching 18,900 tons, compared to 18,000 tons in 2018.
The Crown Prince said in a previous television interview that the value of minerals in the Kingdom is $1.3 trillion (SR4.9 trillion), of which $240 billion (SR900 billion) is the value of gold only.
He stressed that it is difficult for the foreign or local investor to take risks in a new sector such as the mining sector. "Therefore, we have found that the lead must come from the Public Investment Fund.
"Part of the cash available from offering a stake in Aramco will provide an opportunity to invest in this new sector, of which only three percent has been exploited to date," he noted.
During the interview, the Crown Prince expressed his dissatisfaction with the performance of this sector, despite the tremendous wealth that the Kingdom is storing in mineral savings and huge reserves of uranium, which represents 6 percent of the world's total reserves.
"This wealth is another untapped oil, in addition to the wealth of gold, silver, copper, and other minerals, of which only 3 or 5 percent was exploited, and it was used incorrectly at a time when the mineral sector was supposed to represent the third pillar of the Saudi industry, in addition to oil, gas and petrochemicals so as to contribute to achieving more prosperity.
"Its goals are in conformity with the Kingdom's development strategy, which is to diversify sources of income, provide employment and achieve comprehensive development," the Crown Prince pointed out in the interview.

Clic here to read the story from its source.