Saudi Mining Investment Law aims to address investor concerns: Minister

Saudi Mining Investment Law aims to address investor concerns: Minister

Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef has confirmed that the Saudi Mining Investment Law was framed according to the latest international practices and it aimed at addressing the concerns of investors from all over the world, especially about opportunities for growth and profitability.Al-Khorayef made the remarks during his participation in a dialogue session at the Egypt Mining Forum 2023, which was held in Cairo on July 18-19, according to a report by Saudi Gazette.

For the latest headlines, follow our Google News channel online or via the app.

He said the Saudi Mining Investment Law also aims to overcome the risks associated with investment in the sector, lay down a flexible mechanism that is able to withstand different changes that may occur in the environment.

Al-Khorayef noted that all the advantages of the law have resulted in increasing the volume of licenses that the ministry issues in dif-ferent mining locations.

It has also increased the turnout of investors to enter the exploratory auctions launched by the ministry, in addition to reducing the time required for issuing the licenses, he said.

The unique geographical location of Saudi Arabia and the natural resources it possesses have allowed it to become a major player