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The Ministry of Industry and Mineral Resources issued 29 new mining licenses during January as part of its efforts to develop the mining sector in the Kingdom and maximise its contribution to the sources of income.
The Ministry's spokesperson, Jarrah Al-Jarrah said the new mining licenses included 21 building materials quarry licenses, 7 exploration licenses, and one small-scale mining and mine exploitation license.
He noted that the total number of valid mining licenses in the sector as of the end of January reached 2,934, with building materials quarry licenses leading at 1,565, followed by exploration licenses at 1,016, small-scale mining and mine exploitation licenses at 276, exploration licenses at 68, and licenses for surplus mineral ores at 9.
Al-Jarrah said the mining investment system in the Kingdom has identified 6 types of mining licenses, including a 2-category exploration license that covers all types of minerals for a period of two years and is renewable, a prospecting license of two categories for all types of minerals for a period of 5 years, a license for mineral production for a period of one year, and a license for general purposes linked to a mining license or small mine.
(Writing by N Saeed; Editing by Anoop Menon)
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