Infographic: Ministry of Industry issues 25 new mining licenses in January

Ministry of Industry and Mineral Resources issued 25 new mining licenses during January 2024, including 10 building materials quarry licenses, 7 exploration licenses, 5 mining exploitation licenses and a small mine, and 3 exploration licenses, according to the report of the Ministry's National Industrial and Mining Information Center. The report showed that the total number of valid mining licenses in the sector until the end of January reached 2,383 licenses, led by the construction materials quarry license with 1,513 licenses, followed by a discovery license with 613 licenses, a mining exploitation license and a small mine with 195 licenses, a reconnaissance license with 37 licenses, and a surplus mineral ores license with 25 licenses.

The report showed that the total number of mining licenses valid in the sector until the end of January reached 2,383 licenses.

Mining Investment Law

<The Mining Investment Law and its executive regulations define 6 types of mining licenses, including: A reconnaissance license, which includes all types of minerals for a period of two years that can be extended, an exploration license for all types of minerals for a period of 5 years for minerals of categories (A) and (B), a license for category (C) minerals for one year, and a general purpose license associated with a mining license or a small mine: Classes A and B mining license, whose license period does not exceed 30 years and can be renewed or extended; Classes A and B small mine license, whose license period does not exceed 20 years; Class C construction materials quarry license, whose license period is up to 10 years and can be extended; and “surplus mineral ores on project sites or privately owned land” license."

The system also includes a license for "surplus mineral ores on project sites or privately owned land."

The system also stipulates a general purpose license that is tied to a mining or small mine license. Ministry of Industry and Mineral Resources seeks to protect and maximize the value of the mining sector in accordance with the objectives of Saudi Vision 2030 and the National Industry Development and Logistics Program to transform mining into the third pillar of the national industry and to exploit the Kingdom's mineral resources, which are spread over more than 5,300 sites and are valued at about 5 trillion riyals.

Ministry of Industry and Mineral Resources

أهم المؤشرات والأرقام التعدينية لشهر يناير 2024.#الصناعة_والثروة_المعدنية pic.twitter.com/97aN6oaUbu

- Ministry of Industry and Mineral Resources (@mimgov) March 25, 2024