RIYADH: Arab nations will explore partnerships with China to accelerate the sustainable growth of the mining sector in the region, according to speakers at a panel discussion at the Arab-China Business Conference held in Riyadh.
Khalid Nouh, CEO of Industrialization & Energy Services Co., also known as TAQA, said China’s know-how and technical expertise could help Saudi Arabia explore its full potential in the mining sector.
Mining is one of the 13 strategic sectors in Saudi Arabia’s economic diversification strategy known as Vision 2030, and there is an estimated $1.3 trillion worth of resources to be excavated in the Kingdom.
Nouh said: “China has a very strong position in the mining industry. There are more than 40,000 mines in China. There are more than 1,500 mining projects going on. “China is the biggest consumer of lithium in the world. They are the biggest producers of nickel, cobalt and molybdenum. So, they have a strong market, and a strong know-how in the mining industry, especially in exploration and production.”
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