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FINANCIAL NEWS
Saudi Arabia to triple mining income by 2030
23 Nov 2016
(MENAFN) Saudi Arabia aims to triple the contribution of its mining industry to national wealth as measured by GDP by 2030.
Furthermore, the kingdom is finishing a mining plan aimed at raising mining incomes from USD17bn to 240bn riyals by 2030.
The kingdom’s efforts to construct an economy, which does not depend on oil and state subsidies involves a move towards mining vast untapped reserves of bauxite.
In addition, state-controlled Saudi Arabian Mining Co. (Ma”aden) proclaimed that mining will produce annual 97bn riyals and make 90.000 jobs among 5 years.
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