Saudi mining investment law takes effect in January 2021

Saudi mining investment law takes effect in January 2021

Saudi mining investment law takes effect in January 2021

Saudi mining investment law takes effect in January 2021

The law will help optimize mineral resources in the Kingdom. (Reuters)

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Saudi mining investment law takes effect in January 2021

Al-Mudaifer highlights the importance of latest measures to optimize mineral resources in KSA

The Saudi Geological Survey is one of the largest surveys in the world, with the budget for all its stages amounting to SR2 billion

Updated 01 November 2020

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RIYADH: The recently approved mining investment law will be fully activated by January 2021, said Khalid Al-Mudaifer, vice minister for mining affairs, Ministry of Industry, and Mineral Resources.

The law aims to revolutionize the Kingdom's mining sector and boost its contribution to the gross domestic product by over SR240 billion ($64 billion), reduce imports by SR37 billion,