Saudi Arabia set to explore site for 26m tons of minerals

Some 26 million tons of gold, zinc and copper are set to be excavated at a site in Riyadh after the Saudi Arabian government gave the dig a green light.

Investors applying for the mining contracts have been asked to submit a plan, which will be signed off by ministers, Bandar AlKhorayef, the minister of Industry and Mineral Resources said in an interview with Al Arabiya.

The government will help companies by providing facilities to assist with the excavation.

The site in Al Khunayqiyah, southern Riyadh, has already had a number of extensive explorations carried out, including drilling of more than 100,000 meters and building three dimensional geological models which resulted in the identification of four separate mineral bodies rich in copper and zinc, AlKhorayef added.

Saudi Arabia will host a future mineral summit from Jan 11-13 in Riyadh, which aims to support industries to convene a global conversation about the Middle East, Central Asia, North and East African region’s collective mining objectives.