The mineral resource sector in the United Arab Emirates is poised for growth, driven by supportive government policies, a diverse resource base, and the commitment of leading companies to sustainability and innovation. As the UAE continues to diversify its economy and reduce its reliance on oil revenues, the development of its mining sector will play an increasingly important role in securing the country's long-term economic stability and growth. By fostering a thriving mineral resource industry, the UAE can further cement its position as a key player in the global market for minerals and related products.
The UAE government has been actively promoting the country's mining sector, recognizing its potential as a driver of economic growth. The country has a well-defined regulatory framework that encourages investment in the sector. The UAE's mining law allows 100% foreign ownership of mining projects, which is a significant advantage for international companies looking to invest in the country.
The UAE government has also set up various initiatives to support the development of the mining sector. For instance, the UAE Ministry of Energy and Infrastructure has launched a national strategy to develop the mining sector, which includes setting up an integrated database of mineral resources, developing infrastructure to support mining activities, and improving the sector's regulatory framework.
Largest Companies in the Sector
Several companies operate in the UAE's mining sector, including state-owned enterprises and multinational corporations. Some of the largest companies in the sector include:
- Emirates Global Aluminium (EGA): EGA is one of the largest producers of aluminium in the world, and its operations are based in the UAE. The company has an annual production capacity of over 2.5 million tonnes and operates two smelters in the UAE.
- Ma'aden: Ma'aden is a Saudi Arabian mining company that has operations in the UAE. The company is involved in the exploration and extraction of gold, copper, and phosphates.
- Dubal Holding: Dubal Holding is a UAE-based company that is involved in the production of aluminium. The company operates in the upstream and downstream sectors of the aluminium industry and has a significant presence in the UAE.
Recent News Articles
- In 2021, EGA announced that it had signed an agreement to supply aluminium to BMW Group, a leading car manufacturer. The deal was seen as a significant milestone for EGA, as it marked the first time the company had entered into an agreement with a major automotive company.
- In March 2022, Ma'aden announced that it had signed a deal with Duqm Industrial Land Company to establish a new phosphate mining project in Oman. The project is expected to have an annual production capacity of around 2 million tonnes and is part of Ma'aden's efforts to expand its operations in the region.