Riyadh – Mubasher: Preliminary estimate showed that Saudi Arabia's mineral resources’ value exceeds $1.3 trillion, said Minister of Energy, Industry and Mineral Resources Khalid Al-Falih.
Mineral resources’ value may surpass these estimates by turning the resources into value-added products via intermediary and conversion industries, Al-Falih added.
Saudi Arabia plans to step up the production of base metals, precious metals to double ten times from the current output, aiming to be among the top ten producers of aluminum.
The minister noted that the kingdom will boost the value-added of Titanium, Uranium, rare-earth elements in a bid to launch state-of-the-art industries.
Saudi Arabia will raise the production of iron, steel, automotive industry materials, military industries, devices, and equipment.
The world's top oil exporter seeks to bolster the private sector's contribution in mining sector through attracting large investments.
