Saudi mining sector grows steadily;466 licenses issued during H1

RIYADH: Mining licenses issued by Saudi Arabia’s Ministry of Industry and Mineral Resources showed a steady pattern during the first half of 2022, according to data compiled by Arab News. 

With a total of 466 mining licenses issued during the first six months, February saw the highest number with 100, up from 67 licenses in the previous month. 

In March, 49 mining licenses were issued. During June, the ministry issued 84 new mining licenses, consisting of 51 exploration licenses, 26 building materials quarries, three surplus mineral ores, two exploitation licenses and two reconnaissance licenses.

In line with Saudi Vision 2030 and the National Industrial Development and Logistics Program, the ministry seeks to protect the mining sector and maximize its value, the Saudi Press Agency reported. 

It aims to transform the mining sector into the third pillar of the national industry and work on exploiting the mineral wealth in the Kingdom that values around SR5 trillion ($1.3 trillion).