(MENAFN- Saudi Press Agency) Cape Town, Feb. 7, 2023, SPA -- The Ministry of Industry and Mineral Resources of the Kingdom of Saudi Arabia reviewed, within the activities of Mining Indaba Professional Conference 2023, currently ongoing here, the Kingdom's investment opportunities and the infrastructure and legislative capabilities, which qualify it as the first global destination for investment in the mining sector.
Addressing a meeting held by the Ministry in the presence of a number of investors participating in the conference in Cape Town, South Africa, the Deputy Minister for Mining Affairs Eng. Khalid bin Saleh Al-Mudayfer, Eng. Khalid Al-Mudayfer said, 'We are here representing the Kingdom of Saudi Arabia to extend an invitation to the prominent stakeholders in the mining industry to work together and benefit from our rich and vast natural resources to support economic growth and social development for our peoples,' adding that the Kingdom possesses mineral wealth estimated at $1.3 trillion, in addition to other natural resources in the emerging mining region, which extends from Africa to central and western Asia.
He also highlighted the huge opportunities available in the Kingdom, and its efforts in developing the mining sector, starting with the modernization of the mining investment regulation, which constitutes the regular infrastructure for the sector, and provides a clear, transparent and easy environment for investors in the mining sector, and the availability of geological data to investors and the improvement of basic infrastructure, as well as provide incentives to attract investors.
The participation of the Saudi delegation in the four-day exhibition includes representatives from the Ministry of Investment; the National Industrial Development and Logistics Program (NIDLP); the Saudi Geological Survey, and the National Center for Industrial Development.
The Saudi pavilion in Mining Indaba Professional Conference displays the Kingdom's ongoing efforts to advance the mining sector by facilitating access to geological data, and updates made to regulations and legislation to attract investments, build foundations for sustainability, and develop a mining sector based on integrated value chains.
--SPA
02:27 LOCAL TIME 23:27 GMT
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