The mining industry in the Arab world is on the brink of unparalleled innovations. As policymakers aim to diversify their markets, new mining codes and policies have opened up opportunities for the private sector in a variety of exciting countries.

Mining in the Middle East and North Africa (MENA) is an emerging industry offering impressive opportunities for mining, resources and infrastructure companies. Gulf countries in particular, are looking to diversify their economies in order to reduce their dependency on oil and gas and create jobs for their young, fast-growing population.

For the last 30 years, oil and global finance have been the driving power behind the UAE economy, with GDP per capita at the same pace as the leading Western European countries. The country's GDP was projected at USD 405.8 billion in 2019.

The UAE has a transparent economic agenda. A few years ago, the top exports of the United Arab Emirates were Gold (USD 15.8B), Diamonds (USD 12.3B) and Raw Aluminum (USD 4.22B). The top imports are Gold (USD 31.9B) and Diamonds (USD 12.5B), with India becoming the top trade partner of the UAE, followed by Iran and Switzerland (source OEC).

Australia recently signed a nuclear cooperation deal with the UAE to provide uranium to finance the operation of four nuclear power plants that are scheduled to be operational by next year. Many minerals are currently being mined in the United Arab Emirates, such as gypsum, copper, precious stones and metals, including salt and marble.

Minerals in the UAE have been a major revenue item for the state treasury and, according to recent economic results, the trade in mining goods tends to demonstrate promising annual dynamics.