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FinancialNews
06-11-22
Saudi Arabia seeks to create additional mining index in diversification attempt
(MENAFN) Saudi Arabia is studying the possibility of creating an additional metals and mining share exchange index as it seeks to grow its resources area to diversify far from hydrocarbons, as stated by a top government official on Friday.
Mining Minister Bandar bin Ibrahim Al-Khorayef informed a news agency in a meeting in Sydney that his team held a meeting with Australian fellows to understand additionally around a mining index, comparable to Australia’s ASX 300 Metals & Mining sub-index that records metals and mining businesses such as producers of gold, steel as well as precious metals.
“It is something we are studying ... but we have not made up our mind if it would be successful,” Al-Khorayef informed the news agency.
He went further on: “We have a secondary stock market in Saudi...it’s still evolving. We want to see if it’s better to have something for mining.”
He did not reveal the amount of firms that could possibly be involved in the index.
MENAFN06112022000045014228ID1105137729
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