Saudi Arabia provides 6 types of licenses for mineral exploration

Saudi Arabia provides 6 types of licenses for mineral exploration
Saudi Arabia provides 6 types of licenses for mineral exploration

She said Saudi Ministry of Industry and Mineral Resources The Mining Investment Law and its executive regulations specify 6 types of mining licenses.

The licenses include a “reconnaissance license that includes all types of metals for a period of two years that can be extended, a detection license for all types of metals for a period of five years for metals of category A and B, and one year for metals of category C, while it is permissible to renew exploration licenses for metals A and B, and the general purpose license that It is associated with a mining license or a small miner.

The “exploitation” licenses include a mining license for Class A and B minerals, the term of which does not exceed 30 years, renewable or extendable, a small mine license for Class A and B minerals, the term of which does not exceed 20 years, and a building materials quarry license for Class C minerals, the term of which is up to 10 years, extendable.

The ministry indicated that the executive regulations of the mining investment system achieve sector governance, enhance transparency, and increase investor confidence in it, in addition to achieving the sustainability elements of the sector. on a mining licence.

The ministry indicated that the mining investment system with its executive regulations contributes to developing the mining sector in the Kingdom and exploring investment opportunities in it, to become the third pillar in the Saudi industry, and a qualitative source of income in the national economy. It will also contribute to the development of non-oil revenues, in addition to maximizing the value achieved from mineral resources. Natural resources in the Kingdom, through the optimal exploitation of mineral resources to achieve the attractiveness of the sector for investment.

The system defines the requirements and obligations of mining licenses that cover all investment activities in the minerals sector, including exploration, reconnaissance and mining.

The development of local communities is a priority in the executive regulations of the mining investment system, which obliges mining licensing applicants to submit a social impact study on their projects showing the contribution to the development of the areas adjacent to the mining projects, such as: employing the people of these areas in mining projects, raising the percentage of purchases from the local market, Develop plans for effective communication in the vicinity of the project.

The “Ta’aen” platform is one of the initiatives aimed at developing and improving the level of business performance in the mining sector, by providing all the services of the sector through digital channels, with the aim of facilitating the investor’s journey and increasing the satisfaction of the beneficiaries, as the platform provides many services to investors in the mining sector, which contributes Reducing the number of procedures per procedure and reducing the time and effort required for each procedure.

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