Archives

Home

Media Center

Financial News

06-04-14

Saudi trade in precious stones hits USD5 b annually

(MENAFN) Saudi Arabia's portion of global trade in precious stones reached 20 percent, according to Arab News. Annual Saudi trade in precious stones is estimated USD5 billion in volume out of USD25 billion of the global volume. Zuhair Nawab, head of the Saudi Geological Survey, said it is expected to find diamonds in old and sedimentary rocks of the Kingdom, adding: "This possibility, however, necessitates more geological surveys to ascertain their availability," Head of the National Center for Complementary Medicine Dr. Abdullah Al-Baddah said: "No scientific evidence exists to prove the viability and effectiveness of treatment with precious stones."