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Saudi mining sector seen booming

Tuesday, Feb 02, 2010
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The mining sector in top oil exporter Saudi Arabia is slowly gaining momentum as foreign companies look to make investment in a sector the government sees as important for economic diversification.

Saudi Arabia holds the world's largest oil reserves and is the biggest crude exporter, but it also has one of the largest phosphate deposits in the world and also holds precious metals.

A new mining law adopted in 2004 to allow greater access for foreign companies to the kingdom's mineral resources is beginning to bring results, mining executives said.

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