Conference on the Situation of Minerals in Yemen [Archives:2001/41/Business & Economy]
The Arab Agency for Industrial Development held its 8th General Conference on Minerals in Sana’a, with the goal of highlighting the situation of minerals in Yemen and the available investment opportunities for Arab capitalists in this field. The agency intends to establish a teledetecting mineral’s center in Yemen. As geological surveys indicate there are investment opportunities in the field of minerals. Sources at the Ministry of Industry told the Yemen Times that the Mineral Sector at the Ministry designated many sites where nonmetallic minerals can be found in different parts of Yemen. The same sources added that 16 sites of volcanic rocks contain 30 million cubic meters, and nine sites of basalt contain a 25 million cubic meter reserve, and five marble sites contain a reserve of 100 million cubic meters. Moreover, there are six sites that contain 151 million cubic meters of granite and seven sites that have 777 million cubic meters of calcic rocks. The source maintained that many foreign companies have explored and excavated minerals in different parts of Yemen and reached satisfactory results in this respect. Thus, the Arab Agency for Industrial Development strives to highlight this issue during its conference in Sana’a through propagating the available investment opportunities in the field of minerals and the facilities given to investors in this regard. Since the implementation of the Mines and Queries Law in 1991, Yemen has regulated the exploitation of minerals and rocks. The law entitles the General Authority for Geological Survey & Minerals to issue investment permits.
The 8th Conference organized by the Arab Agency for Industrial Development has strategic importance in highlighting the minerals in Yemen, which will help to attract foreign capital to invest in minerals in Yemen.