Sudan, Saudi Arabia Discuss Minerals Exploration in the Red Sea
Posted on : Thursday, 8th October 2015
Sudan and Saudi Arabia on Tuesday have discussed exploration of mineral resources in the common area between the two countries in the Red Sea.
In February 2012 the two nations launched the Atlantis II joint venture to exploit gold, silver, copper and other minerals from the bottom of the Red Sea.
The joint sea region of Atlantis II has about 97 million tons of various raw metals, including a ton of zinc, 500,000 tons of copper, 4000 tons of silver, 80,000 tons of gold and different amounts of cobalt, lead and cadmium precipitates.
On Tuesday, Sudan’s minister of minerals, Ahmed al-Karouri, discussed with the Saudi minister of petroleum and mineral resources, Ali bin Ibrahim al-Nai’mi, actions and measures accomplished by the permanent committee for the management of operations of exploration and exploitation of mineral resources available in the common area between the two countries in the seabed of the Red Sea.
The meeting discussed the committee’s follow up on the technical works and mining studies that were conducted under the first mining license at the site of Atlantis II.
In 2010, the Vancouver-based Diamond Fields International and the Manafa International Ltd., a Saudi Arabian company based in Jeddah, were awarded Red a 30 year license to develop the Atlantis II deposit.
The two ministers stressed the distinguished level of cooperation in the mining sector between the two countries, which resulted in a joint action by the exploitation of mineral resources in the common area between the two countries in the works of the Red Sea.
They underscored the need to enhance cooperation ties that contribute to attracting mining investments, both local and foreign, and achieving economic returns to the two countries through the optimal exploitation of mineral resources.
The meeting was also attended from the Sudanese side by the under-secretary at the ministry of minerals, Nagm al-Din Daood, the director general of the geological research corporation, Youssef al-Samani and several other officials and technicians.
The Saudi side included the under-secretary at the ministry of mineral wealth, Sultan Shawli, the legal advisor at the oil ministry Mohamed al-Fahad and the assistant under-secretary for mineral investments at the ministry of oil, Ahmed Faqih.
