RIYADH: As the mining industry continues to expand in line with Saudi Arabia’s Vision 2030 economic diversification plan, the Kingdom issued 32 licenses in June.
According to the Ministry of Industry and Mineral Resources, the new permits included 17 for exploration and 11 for quarrying building materials.
The ministry also issued two licenses for mining and small mine exploitation, followed by one each for exploration and surplus mineral ores.
This allocation follows the ministry’s issuance of 34 permits in May, 55 in April and 27 in March.
The report stated that the total number of mining licenses valid in the sector until the end of June 2023 reached 2,363, led by 1,466 for quarrying building materials, followed by 657 explorations.
There were also 182 mining and small mines exploitation licenses issued, and 37 for reconnaissance.
Some 21 were handed out for surplus mineral ores.
Furthermore, the ministry noted that Riyadh acquired the largest number of the total mining licenses with 596 permits, followed by Makkah with 387 licenses.
The Eastern province received 373 licenses, and Madinah acquired 264 permits. Additionally, Asir benefited from 212 licenses, Tabuk received 150 permits, Qassim was awarded 88, followed by Jizan with 76.
Furthermore, Hail issued 68 licenses, while Najran received 56, Al-Baha took 40 licenses, followed by the Northern Borders and Al-Jawf receiving 27 and 26, respectively.
The ministry has been actively exploring opportunities to protect the mining industry and raise its value in line with the goals of the Kingdom’s Vision 2030 and the National Industry Development and Logistics Program.
Furthermore, Saudi Arabia is on track to make mining the third pillar of its economy, and it is working to fully use the approximately 5,300 mineral resource sites, which are valued at SR5 trillion ($1.33 trillion).
Saudi Arabia, which is rich in natural resources, has implemented a number of regulations in recent years to make its mining sector enticing to private investors.
The strategic position and robust infrastructure of the Kingdom also provide chances for companies to expand their global supply chain.
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