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.



TotalEnergies Reportedly Considers Foray Into Copper Trading

FILED - 21 January 2022, Berlin: The logo of the energy company TotalEnergies is pictured at one of its gas stations in Berlin. Photo: Fabian Sommer/dpa
FILED - 21 January 2022, Berlin: The logo of the energy company TotalEnergies is pictured at one of its gas stations in Berlin. Photo: Fabian Sommer/dpa
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TotalEnergies Reportedly Considers Foray Into Copper Trading

FILED - 21 January 2022, Berlin: The logo of the energy company TotalEnergies is pictured at one of its gas stations in Berlin. Photo: Fabian Sommer/dpa
FILED - 21 January 2022, Berlin: The logo of the energy company TotalEnergies is pictured at one of its gas stations in Berlin. Photo: Fabian Sommer/dpa

France's TotalEnergies is considering a move into trading copper, expanding its oil trading operations into metals to capitalize on the global energy transition, the Financial Times reported on Sunday.
The oil major has been "studying the case" for trading copper, Rahim Azouni, senior vice president of crude, fuel and derivatives trading, told a closed-door conference in London on Wednesday, the FT said.
Azouni said the company has not decided whether to make move, the newspaper said, citing people who had heard his remarks.
TotalEnergies did not immediately respond to Reuters request for comment.
The company would be following Vitol, the world's top energy trader, which this year diversified into metals trading.
The energy transition, which includes electric vehicles and renewable energy technologies, will need large volumes of metals including aluminium, copper, nickel cobalt - providing lucrative opportunities for traders.