VOL. XL

No. 42

20-October-1997

SAUDI ARABIA

Saudi Mining Sector Generates $667Mn In Profit

The Undersecretary of the Ministry of Petroleum and Mineral Resources, Mr. Ibrahimal-Khabairi, said last week that the Saudi mining sector last year generated a total ofSR2.5bn ($667mn) in profits, of which SR2bn ($533mn) went to the private sector. Mr.Khabairi estimated total investment in the mineral sector at SR10bn ($2.6bn) and said thatthe government had so far issued 920 exploration licenses to...