In March 2024, Saudi Arabia’s Ministry of Industry and Mineral Resources issued 12 new mining licences, including 10 building materials quarry licences, one mineral ores surplus licence, and one reconnaissance licence.
According to Jarrah bin Mohammed Al-Jarrah, the ministry’s spokesman, the total number of active mining licences in the sector stood at 2,453 at the end of March. The majority were building materials quarry licences (1,587), followed by 602 disclosure licences, 195 mineral and mineral mineral exploitation licences, 43 licences, and 26 mineral surplus licences.
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Mining license types
The mining regulatory framework defines six types of mining licenses: Reconnaissance License, which covers all metal types for 2 years, with the option to extend. Exploration License, which covers all mineral types for 5 years, for minerals in categories (a) and (b). Additionally, Mineral Class License, which is valid for 1 year. General Purpose License, which is associated with a mining license or small mine. Moreover, Mineral Mining License (categories a and b), which is valid for up to 30 years, renewable or extendable. Also, Building Materials Quarry License (category c), which is valid for up to 10 years, extendable.
The system also includes a “surplus mineral ores at project sites or privately owned land” licence.
Furthermore, The Ministry of Industry and Mineral Resources aims to protect the mining sector and maximize its value in line with the objectives of Vision 2030 and the National Industry Development and Logistics Program. The goal is to transform mining into the third pillar of the national industry and exploit the Kingdom’s mineral wealth, estimated to be worth SAR9.3 trillion ($2.47 trillion) across more than 5,300 sites.
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