Deep Sea Mining the Next Frontier for Sudan and Saudi Arabia?

Deep sea mining for minerals is the next frontier for the extractive industry, and the Red Sea risks becoming a victim Sudan and Saudi Arabia are targeting to start deep-water mining of a Red Sea basin, rich in zinc, copper, silver and gold, by 2014. This decision revives from a mutual agreement signed in 1974 to exploit the Red Sea’s resources, which at the time failed to materialize as global ore prices dropped in the early 1980s. Recent hikes in ore prices and high demand from emerging economies have renewed interest in exploiting deep-sea metal deposits. In…

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Deep Sea Mining the Next Frontier for Sudan and Saudi Arabia?

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