Demand for Saudi mining licences rises sharply

Demand for Saudi mining licences rises sharply

Incentives and legislation are fuelling growth in Saudi Arabia’s mining industry as the government seeks to stimulate investment under Vision 2030. The Ministry of Industry and Mineral Resources said demand for Saudi mining licences had surged since a mining investment law came into force in 2021. The number of building material quarry licences jumped to […]

259 exploration permits last year

$182m package of incentives

Investment law in force since 2021

Incentives and legislation are fuelling growth in Saudi Arabia’s mining industry as the government seeks to stimulate investment under Vision 2030.

The Ministry of Industry and Mineral Resources said demand for Saudi mining licences had surged since a mining investment law came into force in 2021.

The number of building material quarry licences jumped to 538 in 2023, amore than threefold leap since the law was passed. Exploration permits rose to 259 from 58, a more than fourfold rise.

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The ministry said the number of exploitation licences, which are issued as an extension to an exploration licence, had more than doubled from eight before the legislation to 19 in 2023. 

This week the industry and investment ministries officially launched a mineral exploration incentives package, valued at