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FinancialNews


  • 15-01-23

    Saudi share market supports mining companies worldwide to raise investment

    (MENAFN) International mining firms need to collect investment via the Saudi share exchange with aim of surging funds in the nation, in line with a top private equity figure.

    While giving a speech at the Future Minerals Forum in Riyadh, Ross Bhappu, partner and chief of private equity at Resource Capital Funds, applauded Saudi Arabia for establishing a dependable environment for financers seeking to become included in the nation’s mining field.

    He also mentioned that in order for the sector to really improve, additional development was required to draw even higher investments.

    “I would like to see the expansion of the Saudi stock exchange to where it is supportive of a general mining sector, I would like to see general mining companies come here and be able to raise money on the Saudi Stock Exchange and pump that money into an exploration within the country, within the Kingdom,” Bhappu stated.

    Bhappu expressed his admiration to the nation’s determination to the mining sector, and asserted that “The greatest risk and reason we wouldn’t invest in a place has to do with fiscal uncertainty, fiscal uncertainty is a killer of investment.”

    Adding, “When I look at what Saudi Arabia is doing it provides certainty for an investor.”

    MENAFN15012023000045014228ID1105429113

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