Ministry of Petroleum and Mineral Resources has approved the granting
of a license to the Saudi Arabian mining company, Ma'aden, to explore
for copper ore and the accompanying minerals at Sayed Mountain, north
east of Mahd-al-dahab, Madinah region, for a period of five years.
Dr Abdullah Al-Dabbagh, the president
of Ma'aden, said this development is in line with the company's
efforts to develop mining industries in the Kingdom of Saudi Arabia.
He noted that the company is currently producing about 1,000 tons of
copper a year. He added that investment in the mining sector is
Dr Al-Dabbagh pointed out that the
company is planning to increase its copper production to about 1,700
ton per year effective 2003. He said diversification of investment
activities of the company is considered as one of the basic principles
of the company's policy.