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#industrynews Saudi Arabia's mining sector is undergoing substantial growth as part of Vision 2030. A recent report highlights the issuance of 152 industrial licenses in January, increasing the total number of factories to 11,672, with combined investments of $410.4 billion. Valued at $2.5 trillion, Saudi Arabia's mineral wealth offers significant opportunities for non-oil revenue generation. In 2023, operational factories grew by 10% to 11,549. The government has also committed $182 million for mining exploration incentives. Key initiatives such as the Mining Investment Law streamline licensing and focus on sustainability and community welfare. The three-phase strategy covers mining activities, intermediate industries, and conversion industries, with support from the Saudi Geological Survey. By 2030, the mining sector aims to contribute approximately $47 billion to the GDP, improve the trade balance, promote sustainability, create jobs, boost exports, and develop local manufacturing. Take a look at the The Mining Show prospectus here: https://lnkd.in/eeKC8-97 Read the full article by Economy Middle East here:👇 https://lnkd.in/e4Bbv2k9

The Federal Government’s recent commitment to explore Nigeria’s deep seabed for solid mineral mining signals an exciting shift toward diversifying the nation’s economic base. This marks a pivotal moment in Nigeria’s economic evolution. The transition from a fossil fuel-based economy to one that embraces mineral resources opens new opportunities for sustainable growth. By tapping into our marine resources, particularly wave and tide energy, we can generate clean energy and reduce our dependence on oil. This is not just a plan for economic diversification but a visionary step toward achieving energy security and environmental sustainability. Nigeria’s rich marine and solid mineral resources, combined with global demand for clean energy and rare minerals, position us strategically to benefit from the blue economy. By advancing exploration and development in this sector, we can unlock new revenue streams, create jobs, and foster innovation. The deep-sea mining industry will require advanced technology and skilled labor, creating opportunities for capacity building and partnerships with international players. As we venture into this promising sector, it is crucial that the government and private sector work hand in hand to ensure the responsible exploitation of resources while maintaining environmental integrity. With the right investments and policies, Nigeria stands on the brink of a new era in its economic development, ensuring a prosperous future for generations to come. #Nigeria #SeabedMining #SolidMinerals #CleanEnergy #BlueEconomy #Sustainability #EconomicDiversification #MarineResources #Innovation

🌟 Unlocking the Potential of Saudi Arabia's Mining Sector 🌟 The mining sector in Saudi Arabia is pivotal to the Kingdom's national development plans, with its mineral wealth estimated at an astounding SR9.4 trillion ($2.4 trillion). This sector holds strong potential for producing essential minerals for the energy transition, such as aluminum, copper, rare earth elements, and crucial minerals for global agriculture. Since implementing the new Mining Investment Law in 2021, Saudi Arabia has seen a remarkable 138% increase in exploitation licenses issued. This surge underscores the Kingdom's commitment to transforming its mining sector into a global powerhouse. At the Future Minerals Forum 2024, it was highlighted that Saudi Arabia is rich in minerals like phosphates, gold, copper, zinc, lithium, and rare earth elements. The Kingdom is not only opening its doors to investors but also offering enticing incentives: 🔸 Geological Surveys: The Saudi Geological Survey initiative offers detailed and reliable geological data, reducing exploration risks and costs for investors. 🔸 Tax Benefits: Reduced tax rates and exemptions on import duties for mining equipment. 🔸 Financial Support: The Saudi Industrial Development Fund provides loans with competitive interest rates to boost investments in mining-related technologies and infrastructure. Additionally, Saudi Arabia encourages joint ventures between local and international firms, facilitating technology transfer, sharing expertise, and combining resources for exploration and development projects. These partnerships make investments more attractive and feasible for foreign companies. Join us in exploring the vast opportunities within Saudi Arabia's mining sector and be part of the Kingdom's transformative journey! 🌍💼 #Mining #SaudiArabia #Investment #EconomicGrowth #EnergyTransition #FutureMineralsForum #FMF2024 #SustainableDevelopment #Innovation https://lnkd.in/dR-EwrZV

Saudi Arabia has launched a $182 million mineral exploration incentive program as part of its strategy to diversify the economy beyond oil. The initiative aims to de-risk investments in exploration, encouraging new commodities, greenfield projects, and junior miners like Royal Road Minerals Ltd (TSX-V:RYR, OTC:RRDMF), a North American-listed British company that was recently awarded preferred bidder status for Jabal Sahabiyah Exploration License. The move aligns with Saudi Arabia's Vision 2030 economic transformation plan to reduce dependence on hydrocarbons and enhance non-oil GDP. According to Reuters, the Gulf state has revised estimates for untapped mineral resources to $2.5 trillion, up from $1.3 trillion in 2016, indicating potential for further discoveries. More at #Proactive #ProactiveInvestors #TSXV #OTC #RYR #RRDMF #CriticalMinerals #Mining #EnergyTransition http://ow.ly/L3tF105b0uC

Minerals Development Oman SAOC "MDO" continues to advance #mineral #exploration, investing nearly RO 5 million in 2023. This led to a 7% #growth in exploration assets, covering both metallic and industrial minerals. Notably, #copper resources now stand at 51 million tonnes, with chromite reserves reaching 133,000 tonnes. MDO also reported #substantial_industrial mineral reserves, including 2.87 billion tonnes of limestone and 936 million tonnes of #gypsum. These efforts reinforce MDO’s role in #Oman’s #economic diversification through responsible mining. #MineralsDevelopment #OmanMining #Exploration #Sustainability #EconomicDiversification #IndustrialMinerals #Copper #Chromite #Limestone #Gypsum #OmanIndustry #MiningInnovation

Saudi Arabia estimates that it has $2.5 trillion in mineral resources. The country will play an important role in #mining’s future and in #criticalminerals dynamics. Ma'aden has a smart long term strategy that combines in-country development with international acquisitions and develooment, increasing Saudi influence beyind in-country resources. The country is leveraging fossil fuel expertise as it engages in mining, and is thinking across multiple time horizons as they know that shifts from oil and gas will be playing iut in coming decades. The country also has context with cartels, which may increase the possibility of OPEC-like appriaches being applied to certain minerals. 🏹 what does this mean in the great new game of securing critical minerals that support #energysecurity through the #energytransition? The Saudi’s have positive relationships with both China and the US 🏹 what does this mean for large mining majors? Ma’aden will disrupt, and a $2.5T in-country base is a very strong starting point 🏹 what does this mean for #responsiblemining? Communities make or break conflict-free projects, just as true for Ma’aden as it is for other majors like BHP or Glencore. Savvy engagement is a competitive advantagr 🏹 what does this mean for artisanal miners? There are huge opportunities for game changing dignity and productivity in the massive #asm sub-sector, commercially realistic given that productivity means value. A savvy approach for Ma’aden to gain further advantage is to include ASM collaboration and formalization support in its strategy. The Blended Capital Group and partners Alliance for Responsible Mining (ARM) Levin Sources BanQu Inc. Napier Meridian is committed to value and dignity in ASM, understanding that there are game changing opportunities in play One thing that’s for sure is that Saudi Arabia will be prominent in the world of mining for a very long time. https://lnkd.in/g2rs_DKz

📌#WhatInspiresMe: #International #Energy #Agency (#IEA) estimates that, due to energy transformations occurring #worldwide, #mineral demand for #cleantech #manufacturing will grow two to six times by 2040 versus 2020 levels [2]. Already a #global leader in #mining, #BritishColumbia, #Canada is well positioned to #lead the way in #developing critical #mineral mines that will help supplement rapidly increasing global demand. Today, the #province of #BC is home to 10 #metal #mines, seven #thermal #coal mines, two #smelters, many of the world’s #top mining #professionals and #companies, and some of the best mineral, metal and #metallurgical coal #operations seen worldwide. Will our #governments and #industry #work together to unlock this enormous mining #wealth for #Canadians, balancing the need for responsible #economic #development and #future #prosperity, or will another incredible natural resource opportunity pass us by? B.C.’s $800 billion mining #opportunity is one that Canadians cannot afford to miss! 💫 #Follow me 📈 MICHAEL REDENIUS for #bestadvice 📈 #Join my 12,000+ #network 👉 Activate the Bell 🛎️ for all #linkedin post! #BCCriticalMinerals #Business #BCMining #Branding #MiningCanada #CleanEnergy #EnergyTransition #Steel #BCEconomy #Mining #Industry #Engineering #Canada #Resources #CriticalMinerals #Asia #Exploration #Coal #Prospecting #Ores #Minerals #Mining #MiningIndustry #Construction #MiningEngineering #MiningEquipment #Innovation #MiningTechnology #MiningNews #Japan #Motivation #Mines #Productivity #Economy #Economics #Sustainability #Inspiration #Europe #China #Leadership #AutomotiveIndustry #MiningBC #Dubai #Energy #Money #India #Futurism #Goldmine #RealEstate #GettingThingsDone

As the global economy seeks sustainable and lucrative business opportunities, Saudi Arabia emerges as a beacon for the future of mining. With an ambitious vision to harness the Kingdom's vast mineral wealth, valued at over $1.3 trillion, Saudi Arabia is poised to attract investments worth $170 billion by 2030. At Novarabia, we understand the transformative potential of the Saudi mining sector, which is expected to grow to $2.7 trillion following the exploration of new areas. Our strategic focus is on fostering robust business development services for partners like you, aiming to navigate the rich landscape of opportunities that Saudi Arabia offers. Why to do business in Saudi Arabia's Mining Sector? • Diverse Mineral Wealth: The Kingdom boasts 35 mining belts across 13 regions, housing approximately 390 complexes with over 20 different minerals, including gold, copper, iron, and marble. • Strategic Projects: Recent initiatives include significant projects like a steel plate factory in Ras Al Khair Industrial City and an electric vehicle battery factory in collaboration with the Lucid Group. These ventures are part of nine targeted investment projects, promising to create over 14,500 jobs. • Favorable Regulatory Environment: The Saudi government is dedicated to creating an attractive investment climate. Recent announcements include the auction of new mining exploration licenses and the unveiling of five new exploration opportunities, signaling a welcoming stance towards local and international investors. • National Industrial Development and Logistics Programme (NIDLP): This five-year plan aims to spur private sector participation and promote economic diversification, underpinning the strategic development of the mining sector. Partner with Novarabia: As your partner, Novarabia is ideally positioned to facilitate joint ventures and partnerships, leveraging our in-depth knowledge and networks within the Saudi mining sector. Our expertise extends to navigating regulatory landscapes, ensuring a seamless process, and unlocking the full potential of your venture. We invite you to explore these opportunities further and consider how your business objectives align with the burgeoning Saudi mining industry. Novarabia is here to guide you through every step, from initial exploration to establishing a thriving operation. We look forward to the possibility of collaborating with you to achieve mutual success. #mining Ministry of Investment #miningengineering #pif Public Investment Fund (PIF) Bandar I. Alkhorayef