Saudi Arabia raises mineral wealth estimates to SAR 9.4T: Alkhorayef

Saudi Arabia revised upward estimates for its mineral resources from $1.3 trillion (SAR 4.9 trillion) in 2016 to $2.5 trillion (SAR 9.4 trillion), Reuters reported, citing Bandar Alkhorayef Minister of Industry and Mineral Resources.

The estimates were revised for phosphate, gold and rare earths. Moreover, the Kingdom’s reserves potential grew by 90%, he added.