Saudi Arabia mulls new mining stock exchange index, says Alkhorayef

Minister of Industry and Mineral Resources, Bandar AlKhorayef

Saudi Arabia considers to launch a new metals and mining stock exchange index as it seeks to expand its resources sector and diversify away from hydrocarbons, said Minister of Industry and Mineral Resources Bandar Alkhorayef.

The minister said he met with his counterparts in Sydney to learn more about the mining index, similar to Australia’s ASX 300 Metals & Mining sub-index that lists metals and mining firms including producers of gold, steel and precious metals, Reuters reported.