Saudi Arabia is moving beyond the oil sector and pursuing bolder ambitions to diversify its economy. The Kingdom no longer wants to depend on oil and is expanding its reach to various natural resources. Through strategic investments and partnerships, Saudi Arabia is now aiming to ace the mining industry and bring about a revolution.
According to the latest reports, the mining revolution in Saudi Arabia is worth $2.5 trillion. The untapped sector could usher in a new financial era, producing millions of jobs and an unending revenue stream. The Kingdom aims to become a global hub for the supply of minerals and other natural essentials.
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Saudi Arabia Pursuing a $2.5 Trillion Mining Revolution
The Vision 2030 of Saudi Arabia is getting diverse with newer sectors being added to achieve the progression milestone. Saudi Arabia is partnering with global firms to help them achieve the mining goal and reach the $2.5 trillion target. It has tapped the CRU group to make the vision a possibility by 2030 and opened offices in Riyadh.
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“Vision 2030 places the mining sector at the heart of its transformation and net-zero goals. Robust, accurate data and sharp insights are vital for the decarbonization of hard-to-abate sectors like mining. Establishing our new office in Riyadh will allow us to better support the Kingdom and clients to decarbonize mining operations and achieve sustainable long-term growth,” said CRU’s CEO David Trafford.
If everything goes according to plan, Saudi Arabia could dominate the mining markets along with the oil sector in 2030. The next decade could be different as the Kingdom’s aspirations are changing rapidly to keep its economy diverse and thriving.
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CRU is now at the helm of making Saudi Arabia’s mining revolution a reality. “By delivering market intelligence, strategic planning, and data-driven solutions tailored to the region, we aim to empower businesses to maximize growth opportunities,” said Zain Ajlouni, CRU’s Middle East General Manager.