The Saudi Minister of Petroleum and Mineral Resources, Ali Al-Nuaimy, stated that the local private sector earned a two billion Saudi Riyal ($533 million) average income per annum over the past 10 years by exploiting mineral resources in the Kingdom, reported Al-Hayat. Addressing a recent Mineral Resources Exhibition in Jeddah, the Minister said that his ministry is presently working on improving the investment climate of the mining sector by making a number of investment opportunities available in order to lure local and foreign capital. Operating mining companies are predicted to earn SR 10 billion in revenues and SR 2.5 billion in net profits by the end of the Saudi-Hejri year. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
