(MENAFN - Arab News) The Saudi-Sudanese joint venture to exploit gold, silver, copper and other minerals from the bottom of the Red Sea will bring about big economic benefits for both countries, said Petroleum and Minerals Minister Ali Al-Naimi on Wednesday.
"We are encouraging work and studies on mineral reserves in the Red Sea that could be exploited, realizing good economic returns for both countries, creating new job opportunities for Saudis and Sudanese and achieving transfer of technology," he said.
Al-Naimi was talking to reporters after returning from Khartoum following talks with Sudanese officials on prospects of expanding cooperation in oil and mineral sectors. It was the sixth meeting of a Saudi-Sudan Joint Committee to discuss matters related to exploiting the treasures of the Red Sea.
Cooperation between Saudi Arabia and Sudan in mining is a good model for other Arab countries to follow, he added. The meeting would contribute to strengthening this cooperation, especially in exploiting minerals in the Red Sea, he added.
Al-Naimi said the meeting discussed matters related to joint investment in minerals and training of national cadre in marine mining. "The license issued by the two countries about two years ago to exploit gold, silver, copper, zinc and other metals from the Red Sea can be considered a pioneering experiment in mining at global level," he pointed out.