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Mining industry in the UAE

Article image: Mining industry in the UAE

The discovery of oil fields in the United Arab Emirates has marked the starting of a completely new economic policy of the country. The policy of the government of the United Arab Emirates on active diversification of the oil economy, in its turn, has contributed to the development of many related industries. Thus, the national mining sector has become one of the most promising production areas. It is not a secret that the minerals of the UAE have sufficient potential to attract potential investors from around the world.

Besides, the government, in order to attract potential investors, has abandoned its traditional methodology of exploration and research works on the territory of the UAE. Today, the state has adopted the most advanced technologies and the best scientific methodology. Ongoing mapping studies, scientific researches and aerial photography, in turn, have confirmed the diversity and abundance of minerals in the Emirates.

Types of Minerals in the UAE

The list of minerals, which are mined in the United Arab Emirates, is quite long, ranging from gypsum and copper mines to the extraction of precious stones and metals. Among the profitable recoverable resources, different minerals, salt and marble can be singled out. Today, quarry mining develops actively owing to the policy of attracting direct investments.

Dozens of largest international companies invest successfully in this economic sector. For example, Indian investors commercialize the development of chrome deposits and exploration of precious metals. International companies and holdings are specialized not only in cobalt, copper, silver and gold, but they also carry out business activities in other industries.

Minerals of the UAE have become a significant revenue item for the state treasury and continue to show positive annual dynamics. It should be noted the fraction of income coming from the mining industry increases annually in the total gross national product. Today the United Arab Emirates export products of the mining industry to the dozens of states and seek to expand the geography of trade relations.

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