The Ministry of Energy and Mineral Resources recently confirmed that the contribution of the mining sector to the gross domestic product rose to 9.2% last year, compared to 7.7% the previous year.
The ministry's data also showed that the sector's exports constituted 30.4 percent of the total national exports last year, compared to 23.5 percent in the previous year.
The sector’s financial returns last year amounted to 3.1 billion dinars, up from 2.2 billion the previous year, bringing the total of these returns during the period from 2016 to 2021 to a total of 14.1 billion dinars.
These revenues were distributed between 1.9 billion dinars from extractive industries last year, compared to 1.6 billion dinars in 2020, while the total returns of the manufacturing sector amounted to 1.1 billion dinars last year, compared to 546.4 million dinars the previous year.
The ministry said that “the mining sector is one of the most important and largest industrial and economic sectors in the Kingdom due to the large number of investments that are reflected in the economic and social situation in terms of meeting the market needs of various products, whether they are primary, medium or final, or in terms of employment of labor and other economic aspects. “.
The ministry added that the accelerating technological development at the global level in the mining sector contributed to encouraging investment in mining industrial projects, with both extractive parts, such as phosphates, potash, basalt, silica and limestone, and downstream mining industries such as fertilizers and acids.
She indicated that the government focused on implementing several exploration programs for mineral ores such as rare earth elements and lithium for the purpose of marketing these ores in modern industries and focusing on the added value of national strategic minerals.
In the year 2020, the ministry launched many investment opportunities in the field of mineral wealth that are open to investors. The government also encourages investors to establish manufacturing industries based on mineral wealth to increase the added value of the extracted ores.
It is noteworthy that the vision of economic modernization has developed effective initiatives to advance the mining sector in the Kingdom and highlight its developmental role during the next 10 years. The vision highlighted the need to develop a national strategy for mining, establish an independent body for geological survey and provide data related to surveys in accordance with international standards.
She stressed the importance of harmonizing legislation and regulations with international standards, reviewing the financial incentives system, attracting foreign direct investment in the sector, and establishing middle and manufacturing projects for the sector.
The vision came out with the need to launch a financing program for the mining sector, attract specialized skills in the mining sector, improve logistics infrastructure, raise cost competitiveness, improve mining techniques and technology, establish research, development and innovation centers to take advantage of new areas, such as nitrogen fertilizers, and improve Environmental, social and corporate governance within the sector.

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