Saudi mining licenses in 1 year equal to all licenses issued since launch of mining activities: Minister

Bandar Alkhorayef, Minister of Industry and Mineral Resources

Saudi Arabia’s mining sector received strong turnout from investors since the issuance of the new mining investment law, Bandar Alkhorayef, Minister of Industry and Mineral Resources, said, noting that the licenses issued in a single year was equal to those issued since the launch of mining activity in the Kingdom.

The mining sector has abundance of resources, Alkhorayef told Al-Ekhbariya TV on the sidelines of the Future Minerals Forum.

Elsewhere, Khaled Al-Mudaifer, Vice Minister for Mining Affairs, Ministry of Industry and Mineral Resources, said SaudiArabia is working on 38 initiatives, to realize the objectives of Vision 2030 and enhance the mining sector.
 

On the other hand, Khalid Al-Falih Saudi Minister of Investment said the Kingdom issued 75 new exploration licenses since January 2021.

Saudi Arabia holds an estimated $1.3 trillion worth of mineral resources. It also aims to to increase the mining sector’s contribution to gross domestic product (GDP) to $64 billion by 2030.