The CEO of the National Industrialization Company, Mutlaq Al Morished, said that the mining sector in Saudi Arabia is “almost non-existent” but the current period has begun to open its doors to investors.
Al-Muraishid added in an interview with Al-Arabiya on the sidelines of a mining conference in Riyadh today Wednesday that the company produces about 10% of the world’s titanium metal production, indicating that the door to the sector is open. to attract investment to the Kingdom.
He explained that the National Industrialization plant produces about 15.5 thousand tons, while world production reaches 150-160 thousand tons.
Al-Muraish added that titanium is used in the manufacture of aircraft, nuclear submarines, missiles and satellites.
He referred to titanium, which is a light metal and 3 times stronger than iron, adding that this metal is used in medicine, such as prostheses.
Al-Muraishid said that the mining sector around the world needs trillions in investments because minerals are involved in the production of everything.
He said that the company’s titanium products have been certified by the American companies Boeing and Airbus for use in the aviation industry.
