RIYADH: Saudi Arabia’s mining sector continues to grow steadily, with the government issuing 55 new mining licenses in April, marking the third consecutive month of increase. 

RIYADH: Saudi Arabia’s mining sector continues to grow steadily, with the government issuing 55 new mining licenses in April, marking the third consecutive month of increase. The licenses covered various activities such as exploration, quarrying building materials, surplus mineral ores, and small mine exploitation. The total number of licenses issued in the sector reached 2,336 by April, contributing to the country’s efforts to develop mining as a key industry aligned with Vision 2030 and the National Industry Development and Logistics Program.

Regional distribution of licenses showed Riyadh obtaining the highest number, followed by Makkah, the Eastern Province, and Madinah. The Ministry of Industry and Mineral Resources is actively focused on safeguarding the mining sector and leveraging its potential in line with the country’s strategic goals. Saudi Arabia aims to establish mining as the third pillar of its national industry by tapping into its abundant mineral resources, valued at around SR5 trillion ($1.33 trillion), spread across thousands of sites.

The importance of global mining activities for critical minerals was highlighted at the Future Minerals Forum in Riyadh, where Mike Henry, CEO of BHP, emphasized the need to accelerate mining efforts. Meeting energy transition targets will require significantly higher amounts of copper, nickel, steel, and iron ore compared to the previous three decades. Saudi Arabia recognizes the significance of these minerals in driving sustainable growth and is actively working towards meeting the demand in the coming years.

Source: Arab News