Saudi Press

Saudi Arabia and the world
Monday, Jan 30, 2023

Jordan Signs MoU for Gold, Lithium Exploration

Jordan Signs MoU for Gold, Lithium Exploration

Jordan's Ministry of Energy and Mineral Resources and the Arab Mining Company signed Sunday two memoranda of understanding (MoU) to excavate lithium in Wadi Araba's Fenyan area and gold in Aqaba's Jabal Mubarak area.
The Jordan News Agency (Petra) quoted Minister of Energy and Mineral Resources Saleh Kharabsheh as saying that the Arab Mining Company will explore for gold in an area of 50 square km in the Jabal Mubarak region and will explore lithium in an area of 35 square km in Wadi Araba's Finan area.

The exploration will continue for 12 months, and the geologist of the exploration area will exclude the areas located within the boundaries of the natural, archaeological, and geological reserves.

Kharabsheh stressed the importance of the deal, indicating the importance of the mining sector, which was described as having a high industrial value in the Economic Modernization Vision due to its importance in providing the national economy with added value, expanding job opportunities and contributing to efforts to achieve sustainable development.

Efforts are focused on placing Jordan firmly on the mining map at the regional and global levels, which helps economic development, especially in communities in investment locations, said the minister.

The Ministry of Energy conducted surface geochemical studies, including surface samples studies, which confirmed the presence of promising concentrations of lithium and gold ore in the south of the Kingdom.

Meanwhile, the Jordanian government signed a €200-million soft loan agreement with the European Investment Bank (EIB) to finance the National Water Carrier Project (Aqaba-Amman Water Desalination and Transport Project).

The loan falls within an EIB commitment from a donor conference held in March.

The EIB loan would be part of the government's $352 million to the Project, which would provide about 300 million cubic meters of desalinated water annually to be transported from Aqaba to Amman and other governorates, according to the Petra news agency.

Minister of Planning and International Cooperation Zeina Toukan said it was the first agreement signed to finance the National Water Carrier Project, which comes as a translation of the pledges made at the donors and financiers conference held last March.

Toukan added that Jordan would work with donors to translate the pledges into agreements during the coming period, indicating that the Project has significant environmental impacts.

She stressed the importance of the Project, which is a top priority on the government's agenda to enhance water security and achieve comprehensive economic development.

In turn, EIB Vice-President Gelsomina Vigliotti indicated that investing in the water industry is investing in the future, pointing out that through the ambitious Aqaba-Amman Water Desalination and National Water Carrier Project, Jordan would be able to adapt to climate change and would ensure environmental sustainability by using the potential of renewable energy to complete this Project.

She pointed out that the fruitful cooperation between the Jordanian government, its international partners, and EIB will contribute to providing financing to support investments to bring about a fundamental transformation in the water sector in Jordan.

EU Ambassador to Jordan Maria Hadjitheodosiou highlighted Team Europe's support for global efforts to adapt to climate change, emphasizing the importance of this funding for the National Water Carrier Project, which is the EIB's first financial commitment to the Aqaba project.

Hadjitheodosiou also noted that it reflected the EU's support to enhance Jordan's water security.
Newsletter

Related Articles

Saudi Press
Close
0:00
0:00
Bill Gates is ‘very optimistic’ about the future: ‘Better to be born 20 years from now...than any time in the past’
Tesla reported record profits and record revenues for 2022
Germany confirms it will provide Ukraine with Leopard 2 tanks
Prince Andrew and Virginia Giuffre Photo Is Fake: Ghislaine Maxwell
Opinion | Israel’s Supreme Court Claims a Veto on Democracy
Moonwalker Buzz Aldrin Gets Married On His 93rd Birthday
Who’s Threatening Israeli Democracy?
Federal Reserve Probes Goldman’s Consumer Business
China's first population drop in six decades
Microsoft is finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown
Saudi FM discusses Kingdom’s economy, oil, Iran and US ties in Davos
Israelis rally in three cities against Netanyahu legal reforms
China's foreign ministry branch in Hong Kong urges British gov't to stop the biased and double standards Hong Kong report
Tesla slashes prices globally by as much as 20 percent
1.4 Million Copies Of Prince Harry's Memoir 'Spare' Sold On 1st Day In UK
After Failing To Pay Office Rent, Twitter May Sell User Names
Lisa Marie Presley, singer and daughter of Elvis, dies aged 54
FIFA president questioned by prosecutors
Britain's Sunak breaks silence and admits using private healthcare
Saudi Arabia plans to use domestic uranium for nuclear fuel
Mohammed Bin Salman chosen most influential Arab leader of 2022
Hype and backlash as Harry's memoir goes on sale. Unnamed royal source says prince 'kidnapped by cult of psychotherapy and Meghan'
United Arab Emirates says it will teach Holocaust in schools
Saudi Arabia set to overtake India as fastest-growing major economy this year 
International medical experts speak out against COVID-19 restrictions on China
Google and Facebook’s dominance in digital ads challenged by rapid ascent of Amazon and TikTok
FTX fraud investigators are digging deeper into Sam Bankman-Fried's inner circle – and reportedly have ex-engineer Nishad Singh in their sights
TikTok CEO Plans to Meet European Union Regulators
France has banned the online sale of paracetamol until February, citing ongoing supply issues
Japan reportedly to give families 1 million yen per child to move out of Tokyo
Saudi Arabia’s female ambassadors: Who are the five women representing the Kingdom?
Almubarak named ‘The Best Central Bank Governor of the Year 2023 for the Middle East’
Hong Kong property brokerages slash payrolls in choppy market
U.S. Moves to Seize Robinhood Shares, Silvergate Accounts Tied to FTX
Effect of EU sanctions on Moscow is ‘less than zero’ – Belgian MEP
Dubai announces $8.7 trillion economic plan to boost trade, investment and global hub status
Coinbase to Pay $100 Million in Settlement With New York Regulator
FTX assets worth $3.5bn held by Bahamas securities regulator
A Republican congressman-elect is under investigation in New York after he admitted he lied about his education and work experience.
Brazilian football legend Pele, arguably the greatest player ever, has died at the age of 82.
Hong Kong to scrap almost all its Covid rules
EU calls screening of travellers from China unjustified
US imposes Covid testing for visitors from China
Ukraine President Volodymyr Zelenskyy Addresses Joint Session of Congress - FULL SPEECH
Where is Rishi? Chancellor Jeremy Hunt's excuses about the UK's economic challenges just don't make sense
Former FTX CEO Bankman-Fried finally arrested in Bahamas after U.S. files charges
Corruption works: House Financial Services Chair Waters doesn't plan to subpoena her donor, Sam Bankman-Fried, to testify at hearing on FTX collapse
Ronaldo's new contract...
Prince William's godmother resigns honorary royal role after exposing her/their racism
Tax fraud verdict again exposes illusion of Trump the master businessman
×