Saudi Arabia plans to double its gold production to 1 million ounces by 2030, according to Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef.
“Gold is one of the most important minerals in the Kingdom, noting that there is a significant growth in the production of this metal this year,” Al-Kharif said at a symposium during the “Saudi Budget Forum.”
Gold production in Saudi Arabia this year rose from 479 thousand ounces to about half a million ounces, according to the minister.
Saudi Arabia relies on the mining sector in general to support other sectors, especially industry, as it is the sector’s third pillar.
The Saudi authorities are facilitating the process of investment in this area, particularly by facilitating the process of obtaining the necessary licenses.
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