Mining programs aim to boost sector's contribution to Saudi GDP to SAR 281 bln by 2035

The executive programs of the mining sector aim to grow its contribution to the Kingdom's gross domestic product (GDP) from SAR 68 billion to SAR 281 billion by 2035, the Saudi Press Agency (SPA) reported, citing the Saudi Geological Survey (SGS).

SGS added that the untapped minerals value was estimated at nearly SAR 5 trillion.

Over the past three years, SGS focused on developing and implementing the Regional Geological Survey Program initiative.

This multi-disciplinary initiative contributed to launching the first phase of SGS projects on an area of more than 600,000 square kilometers, covering the entire area of the geological area known as the Arabian Shield region.

This initiative aims to achieve better knowledge of the mineral formations in that region, while the regional geological survey initiative, which costs SAR 2 billion, is a fundamental pillar of the economic growth plans under Vision 2030 aiming to help the mining sector become the third pillar of the industry in the Kingdom through an accelerated growth program.