Naimi highlighted two mains points: the Kingdom's experiment in mining and the Arab cooperation in the field of mining. "As you know, the area of the Kingdom of Saudi Arabia is nearly two million square kilometers with different terrain and geological environments. The mineral reservoirs spread across the Arabian Shield, the Arabian Sidewalk, Herat and the coastal plain. We seek to exploit these reservoirs in order to contribute to the development of remote areas which are rich in minerals," Eng. Al-Naimi said. "To this end, the Kingdom of Saudi Arabia, has within a system of mining investment and its executive regulations, enacted the relevant laws and procedures that balance between the exploitation of mineral resources and achievement of developmental goals, together with the preservation of environment, so that the exploitation of mineral resources and its manufacturing has become an integral a part of the national development system", he said. He added that the Kingdom seeks to achieve added and increasing value to the national economy through establishing modern factories based on extraction and processing of various minerals. The Kingdom's mining policy seeks meeting the local needs of the mineral ores and related industries, such as construction materials, and barring the exportation of raw materials to the outside, and instead converting them into manufactured products, or concentrates with high added value," Al-Naimi stressed. The minister of petroleum confirmed that new mining system was issued to guarantee the Kingdom's keenness on systematic exploration of these ores through thoughtful and modern scientific methods, with establishment of governmental authorities with high administrative competence dealing with exploration and providing information and data, maps for investors, issuance of licenses and control and supervision on the exploitation of minerals. Al-Naimi confirmed that local and foreign investors, who are technically and financially able to explore minerals, were attracted and encouraged with such procedures to ensure tranquility and transparency. --More 22:02 LOCAL TIME 19:02 GMT تغريد
