Saudi Arabia Launches Survey to Detect Mineral Deposits

Saudi Arabia launches first geophysical survey aircraft in the Dawadmi province in Riyadh region (Asharq Al-Awsat)
Saudi Arabia launches first geophysical survey aircraft in the Dawadmi province in Riyadh region (Asharq Al-Awsat)
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Saudi Arabia Launches Survey to Detect Mineral Deposits

Saudi Arabia launches first geophysical survey aircraft in the Dawadmi province in Riyadh region (Asharq Al-Awsat)
Saudi Arabia launches first geophysical survey aircraft in the Dawadmi province in Riyadh region (Asharq Al-Awsat)

Saudi Arabia’s mining sector entered a new phase on Tuesday by launching a geophysical survey of the Arab Shield region in the Dawadmi province, which administratively belongs to Riyadh.

The survey covers more than 600,000 square kilometers and aims to discover mineral deposits in the region and attract new investments into the Kingdom’s mining sector. This will directly stimulate the Saudi economy.

Deputy Minister of Industry and Mineral Resources Khalid Al-Mudaifer announced the start of geophysical survey work in the Arab Shield region on Tuesday.

Al-Mudaifer made the announcement on behalf of the Minister of Industry and Mineral Resources and Chairman of the Board of Directors of the Saudi Geological Survey Bandar Al-Khorayef.

He announced the start on Tuesday after launching in Dawadmi the first geophysical survey aircraft, which began geophysical survey work in the Arab Shield region.

The survey results, interpretations, and technical reports will be preserved and added to the National Geosciences Database (NGD), which will give earth sciences data to beneficiaries in various industries.

The data will provide a basis to attract investments in the mining sector, achieving one of the primary objectives of the Kingdom’s Vision 2030.

Saudi Geological Survey CEO Abdullah Al-Shamrani stated that the authority seeks to gather diverse high-resolution geological data for the Arabian Shield.

Al-Shamrani added that the data will be used to support mineral exploration, which will help in Saudi Arabia’s economic growth and diversify its revenue sources.

According to data from the Ministry of Industry and Mineral Resources, the Kingdom is one of the world’s wealthiest countries in mineral resources, with an estimated value of $1.3 trillion.

A magnetic and radiological geophysical survey of the Arabian Shield in Saudi Arabia will be part of the aerial geophysical survey project.

According to Al-Shamrani, the authority also expects to gather high-resolution geomagnetic and radiometric data, as well as interpretations of magnetic and radiological maps that depict the most important geological formations and rock facies.

This will enable identifying and counting essential mineralized environments.



Custodian of the Two Holy Mosques Approves Saudi Riyal Symbol

Custodian of the Two Holy Mosques Approves Saudi Riyal Symbol
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Custodian of the Two Holy Mosques Approves Saudi Riyal Symbol

Custodian of the Two Holy Mosques Approves Saudi Riyal Symbol

Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud approved on Thursday the Saudi riyal symbol in a historic move that will reinforce the Saudi currency's identity.

SAMA Governor Ayman Al-Sayari extended his profound appreciation to the Custodian of the Two Holy Mosques and Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister, for launching the Saudi riyal symbol.

A Saudi Central Bank (SAMA) statement quoted Al-Sayari as saying that this decision reinforces Saudi Arabia's financial identity locally, regionally, and internationally. He indicated that the implementation of the new symbol will be gradual for financial and commercial transactions, with coordination across all relevant entities.

Al-Sayari said this initiative aims to promote national identity and cultural belonging, highlight the role of the national currency, and showcase the Kingdom among major global economies and G20 members. The initiative also signifies the increasingly important role of the national currency in the global financial ecosystem.

The Saudi riyal symbol

The governor acknowledged the collaborative efforts that have facilitated this achievement, extending his appreciation to all contributing entities involved in the symbol's development project led by SAMA, including the Ministry of Culture, the Ministry of Media, and the Saudi Standards, Metrology and Quality Organization.

According to the statement, the Saudi riyal symbol, developed to the highest technical standards, embodies the Kingdom's rich cultural heritage, carrying the name of the national currency "Riyal" in a design derived from Arabic calligraphy.

"The symbol will streamline the representation of the Saudi riyal in local, regional, and international contexts, making it suitable for use in referring to the Saudi riyal in all financial and commercial transactions," said the statement.

As Saudi Arabia advances its Vision 2030 agenda, the launch of the symbol solidifies the importance of the Kingdom's financial system and its increasing role regionally and internationally.