Ministry of Industry and Mineral Resources issued 28 new mining licenses during August 2024, including 10 exploration licenses, 9 building materials quarries, 6 surplus mineral ores licenses, and 3 exploration licenses, according to the report of the Ministry's National Industrial and Mining Information Center. <Jarrah bin Mohammed Al-Jarrah, spokesperson for the Ministry of Industry and Mineral Resources, explained that the total number of valid mining licenses in the sector as of the end of August reached 2288, topped by the construction materials quarry license with 1457 licenses, followed by 564 detection licenses, 202 small mining and mining exploitation licenses, 42 exploration licenses, and 23 surplus mineral ores licenses, according to the report of the National Industrial and Mining Information Center.

<Al-Jarrah explained that the Mining Investment System and its Executive Regulations specified 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, a discovery license for all types of minerals for a period of 5 years for class A and B minerals, a license for class C minerals for a period of one year, and a general purpose license linked to the mining or small mine license.

<The law defines the exploitation licenses, which include: Classes A and B mineral mining license, whose license period does not exceed 30 years, subject to renewal or extension; Classes A and B small mine license, whose license period does not exceed 20 years; construction materials quarry license for Class C minerals, whose license period is up to 10 years, subject to extension; and “surplus mineral ores in project sites or privately owned lands.”

The system includes the license for "surplus mineral ores in project sites or privately owned lands. He stressed that the Ministry of Industry and Mineral Resources seeks to protect and maximize the value of the mining sector in accordance with the objectives of the Kingdom's Vision 2030 and the National Industry and Logistics Development 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 9.3 trillion riyals.

Ministry of Industry and Mineral Resources.