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ARTICLE · 12 APRIL 2013

Mining In Saudi Arabia And Oman - An Insight

Charles Russell Speechlys LLP
Charles Russell Speechlys LLP
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In 1931 King Abdulazziz al-Saud, the founder of the modern Kingdom of Saudi Arabia, appointed a geologist to investigate the possible existence of oil and minerals in national territory.

Saudi ArabiaEnergy and Natural Resources
Michael O'Kane
Michael O'Kane

KINGDOM OF SAUDI ARABIA

Background and structure

In 1931 King Abdulazziz al-Saud, the founder of the modern Kingdom of Saudi Arabia, appointed a geologist to investigate the possible existence of oil and minerals in national territory. The investigation was successful: oil was found in the Eastern Province and gold in the Western portion of the country.

Saudi Arabia possesses more mineral resources than any other country in the Gulf region. The Kingdom of Saudi Arabia possesses large deposits of various minerals including bauxite, copper, gold, iron, lead, silver and tin as well as non-metallic minerals.

Over the years the Kingdom's mineral wealth was exploited through public-private partnerships. In 1935 the Government granted a mining concession and signed an agreement with a British-American consortium to operate the gold mine of Mahd ad Dhahab.

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