The country also announced a $182 million mineral exploration incentive program.

The tin market's fortunes remain beholden to Myanmar's United Wa State Army, which controls one of the world's largest mines.

Ivanhoe Electric is part of a growing number of international mining companies investing in Saudi Arabia.

The Gulf state has revised upwards estimates for its untapped mineral resources to $2.5 trillion.

While the objectives of the demonstration were unclear, it’s the latest sign of the role played by resource nationalism in the shutdown of the Cobre Panama mine.

About 10% of the increase in estimate comes from the addition of rare earths minerals.

The discount hit a record high of $108 a metric ton on Jan. 8.

The country derives a quarter of its gross domestic product and 90% of exports from mining.