It was reported that the Waad Al-Shamaal project in Saudi Arabia will cost 85 billion riyals and create 10,000 jobs to boost job creation development.

In order to get rid of excessive dependence on oil and gas and to achieve economic diversification, the government aimed to triple economic contribution of the mining industry by 2030.

Saudi Arabia authorities estimated the region held 500 million tons of phosphate ore, accounting for 7% of global proven reserves, mainly in Al Jalamid and Umm Wu’al areas.

Saudi Arabia is rich in bauxite, phosphate, gold, copper and uranium resources. To this end, the government planned to revise the mining law to attract foreign investment.

At present, Saudi Ma’aden was the only mining company here, mainly mining copper and gold mines, and expanding aluminum and phosphate mines in recent years. The company planned to invest 24 billion riyals to produce phosphate fertilizer in Waad Al-Shamaal.