Minister of Economy and Industry Ali al-Issawi said that Libya’s geology contains large reserves of gold, iron and magnesium that have not been exploited, and that it is a “remedy” in the face of low oil production.
Al-Issawi said, in a statement to the “African Report”, that if oil revenues continue to decrease, we can resort to this wealth, and the government welcomes international companies to exploit mineral wealth.
It is worth noting that Libya has the third largest reserves of iron ore in Africa, and studies dating back several decades have estimated reserves of iron ore in the Libyan desert at 3.5 billion metric tons.
