Middle East

Saudi ministry issues 84 mining licenses in June

RIYADH — The Ministry of Industry and Mineral Resources (MIM) has announced that it issued 84 new mining licenses in June.

The 84 licenses issued this month include 51 exploration licenses, 26 building material quarrying licenses and 3 surplus ore licenses, according to the ministry’s National Mining Information Center.

Two of the licenses are for reconnaissance purposes and two are usage licenses.

The number of mining licenses in force by the end of June reached 2,100, followed by 1,368 building material quarrying licenses, 510 exploration licenses, 167 development licenses, 31 reconnaissance licenses and 24 surplus ore licenses.

With 499 licenses, the Riyadh region set a record for the highest number of mining licenses issued. This is followed by the Mecca region with 387 licenses, the Eastern region (Al Sharqiyah) with 346 licenses and the Medina region with 236 licenses.

The Mining Investment Law and its Enforcement Regulations establish six types of mining licenses: All mineral exploration licenses for 5 years applicable to category (A, B) minerals. A one-year Mineral (C) category license, a general purpose license related to mining, or a small scale mine license.

The law specifies mining licenses, including category (A) and (B) mineral mining licenses, with license terms not exceeding 30 years, renewable or extendable. Licenses for small-scale mineral mines of categories (A) and (B) with a license term not exceeding 20 years. Renewable building materials quarry license with a license term of up to 10 years. License for “surplus mineral ore on project site or private property”.

The Ministry of Industry and Mineral Resources aims to protect and maximize the value of the mining sector in line with the objectives of Saudi Vision 2030 and the National Industrial Development and Logistics Programme. It aims to transform mining into the third pillar of the national industry, tapping into the kingdom’s mineral resources, spread across over 5,300 sites and worth approximately SR5 trillion. —SG

https://saudigazette.com.sa/article/623647/SAUDI-ARABIA/Saudi-ministry-issues-84-mining-licenses-in-June?ref=rss&format=simple&link=link Saudi ministry issues 84 mining licenses in June

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