Saudi King Salman (C) attends the inauguration ceremony of several energy projects in Ras Al Khair, Saudi Arabia, November 29, 2016. Saudi Press Agency/Handout via Saudi Arabia’s King Salman underlined the kingdom’s intention to invest heavily in speeding up is diversification away from oil exports with the inauguration on Tuesday of a $35 billion mining and minerals processing complex. Riyadh has tried to reduce the economy’s reliance on oil for decades, but the challenge has become particularly urgent in the past couple of years as low prices have pushed state finances deep into deficit and growth has slowed sharply. King Salman and his top ministers visited the complex at Ras al-Khair on Saudi Arabia’s eastern coast, where energy minister Khalid al-Falih said the government would invest in all available resources to develop strategic industries. The vast complex showcases the government’s ability to use its oil wealth to push big […]