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05/05/2016 04:49 AST
Sudan and Saudi Arabia have agreed to start exploring for mineral resources, including silver and gold, in the Red Sea by 2020, Sudanese Minister of Minerals Ahmed Sadiq Al-Karouri said on Wednesday.
The two Arab countries, which are on opposite sides of the Red Sea, have been considering since the mid-1970s how to exploit mineral deposits, which they believe lie 2,000 meters below sea level.
The proposed mining, which will include gold, copper and silver, is expected to generate revenues of around $20 billion, the Director General at Sudan’s Mining Ministry, Mohamed Abu-Fatema, said.
Arab News
05/04/2018
Saudi Arabia's Public Investment Fund (PIF) has signed an agreement with Six Flags to develop and design an amusement park in Riyadh. Six Flags, the world’s leading international amusement park compa
Arab News
05/04/2018
In an exclusive interview with Arab News, Turki Mohammed Al-Shehri explains how an expanding renewables industry will boost employment as well as pave the way for a greener future.
A massiv
Arab News
05/04/2018
Dubai’s residential property market continued to soften in the first three months of this year, in line with analysts’ forecasts, with rental values recording a more pronounced fall than sales prices
The National
05/04/2018
Buoyed by a strong oil price of $70 per barrel, Saudi Arabia’s Tadawul shot up by over 6 per cent in March 2018, according to Kuwait Financial Centre’s (Markaz’s) recently released Monthly Markets Re
Times of Oman
05/04/2018
Qatar banks’ combined credit facilities to real estate sector rose by QR17bn to QR147.7bn in 2017. The banks’ credit to various sectors stood at QR911bn at the end of 2017, up from QR839bn recorded i
The Peninsula