Saudi Arabia issues 27 new mining licenses in March
How does Saudi Arabia's granting of 27 new mining licenses in March contribute to the country's economic growth?
The Ministry of Industry and Mineral Resources in Saudi Arabia has granted 27 new mining licenses in March, marking an increase from the previous month and aligning with the Vision 2030 economic diversification plan.
The total number of licenses in the mining sector now reaches 2,314. Among the licenses issued, six were for mineral exploration, 13 for the building materials industry, and five for surplus mineral ores. The remaining permits were granted for reconnaissance and exploitation purposes.
Saudi Arabia aims to develop mining as the third pillar of its national industry, utilizing its vast mineral resources found in over 5,300 sites with an estimated value of SR5 trillion ($1.33 trillion).
The country possesses various minerals, such as gravel, gold, iron, copper, granite, and marble, with 35 locations containing abundant mineral deposits known as mineral belts.
Ready to dive into the mining industry? Let Pangea assist you with your business licensing needs in Saudi Arabia!
