Prime Highlights:
- Saudi Arabia issued 138 new mining licenses in November to strengthen the mining sector and diversify the economy.
- The increase in licenses shows active mining and exploration, expected to create jobs and support local industries.
Key Facts:
- Total valid mining licenses in the Kingdom reached 2,719 by the end of November.
- The Mining Investment Law defines six types of licenses, including exploration, reconnaissance, and general-purpose licenses.
Background:
Saudi Arabia’s Ministry of Industry and Mineral Resources issued 138 new mining licenses in November to boost the country’s mining sector. The move supports the government’s plan to diversify the economy and increase mining’s contribution.
According to Jarrah Al-Jarrah, official spokesperson for the ministry, the licenses cover various categories, including 114 exploration licenses, 13 building materials quarry licenses, and seven survey licenses.
The figures were released in the National Center for Industrial and Mining Information’s report on November mining indicators, which operates under the ministry. Al-Jarrah noted that the total number of active mining licenses in Saudi Arabia reached 2,719 by the end of November.
Among these, building materials quarry licenses lead the sector with 1,541 licenses, followed by exploration licenses with 842, small-scale mining and mine exploitation licenses at 255, reconnaissance licenses with 66, and licenses for surplus mineral ores totaling 15.
The spokesperson said the Mining Investment Law has six types of mining licenses, including exploration licenses that last two years and can be renewed. Reconnaissance licenses, valid for five years for category A and B minerals, and one year for category C minerals. General-purpose licenses, linked to mining or small-scale mine licenses.
Experts say these steps show Saudi Arabia’s commitment to attracting investment and making the mining sector more efficient. With continued backing, investors can expect a stronger, more diverse industrial sector.
