Saudi mining sector earns $293 million in 2002
Licensed miners in Saudi Arabia earned 11 billion Saudi riyals ($293 million) in revenues for the financial year 2002, of which net profit reached SR 2.9 billion, revealed the Saudi Ministry of Petroleum and Mineral Resources in an annual report.
The report indicates that amount of ore mined and extracted reached more than 180 million tons in 2002. The extract was used to produce 23 million tons of cement, 552,000 tons of gypsum, 4.1 million square meters of ceramic, 12,000 tons of sanitary fittings, 1.3 million tons of salt, 4,500 kilogram of gold, and 140 million tons of decorative stones and other assorted building material.
The Mineral Resources Division has established a permanent center and show-room at the Ministry, as well as a unit for the service of parties interested in investments in the mining sector, in order to ease the procedure involved in obtaining mining licenses. — (menareport.com)
© 2003 Mena Report (www.menareport.com)