Saudi Arabia to attract investments worth $32 billion in mining, minerals sector

Riyadh: Saudi Arabia's minister of industry and mineral resources said the ministry has a goal to attract investments worth $32 billion to its mining and minerals sector through nine new projects, state news agency SPA reported.

The Kingdom is seeking to diversify its economy away from oil by investing hundreds of billions of dollars into a plan called Vision 2030.

The projects are aimed at supporting supplies of mineral products to local and international markets, according to SPA.

Bandar Alkhorayef, the Minister of Industry and Mineral Resources, said the projects would create over 14,500 jobs and added that the ministry is currently studying 145 applications for exploration licenses from foreign companies, SPA said.