The Kingdom of Saudi Arabia has unveiled the Geological Mapping project for Arabian Shield valued at SR777 million ($207 million).
The detailed Geological Mapping project aims to produce 271 geological reports and maps of the Arabian Shield at a scale of 1:100,000. It will also contribute detailed digital geological data to the National Geological Database (NGD), enabling a better understanding of mineral deposits and identifying and exploring new reservoirs to attract investments in the mining sector, reported SPA.
It was inaugurated by Saudi Minister of Industry and Mineral Resources and Chairman of the Board of Directors of Saudi Geological Survey, Bandar bin Ibrahim Alkhorayef.
The project is one of the initiatives under the General Program of the Geological Survey and will be implemented in partnership with the Chinese Geological Survey.
The event was attended by Saudi Geological Survey CEO Engineer Abdullah Muftar Al Shamrani, the Deputy Minister of Natural Resources for Geology and Chairman of the Chinese Geological Survey Li Jianxing, and the Chinese Consul General in Jeddah Wang Qimin.
Speaking at the opening ceremony, Alkhorayef said: "The Geological Mapping project is the largest comprehensive strategy initiative for the mining sector in terms of the nature of the business, the volume of outputs, and the coverage area."
"It represents the core of the general programme of the geological survey, which is an important element in achieving the goals of the Kingdom's Vision 2030 in the mining sector, and a first step towards what we seek, to be the third pillar of the Saudi industry," he stated.
According to him, the project aims to generate detailed digital geological data of the Arabian Shield, understand the origin of mineral deposits in the area, and strengthen the national geological database and the national library of drilling samples.
This data will provide domestic and international investors with a comprehensive understanding of Saudi Arabia's mining sector investment opportunities, he added.