The Financial Times is the latest to look at GCC countries’ mining push, as the countries look to diversify their economies away from fossil fuels.

Who’s doing what? Saudi Arabia is working to raise the mining sector’s share of GDP to USD 75 bn by 2035 from USD 17 bn currently, while the UAE is pursuing a host of government-to-government partnerships in minerals with a focus on Africa. Oman has started building what is expected to be the world’s largest green steel plant, with plans to use iron ore from Cameroon. And Qatari wealth fund QIA has snapped up a sizable stake in Swiss commodities and mining giant Glencore.

“The region has huge potential to create a major mining industry,” the salmon-color paper quotes Tom Harley, managing director of mining advisory Dragoman, as saying.

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