Saudi Arabia’s Ministry of Industry and Mineral Resources issued 52 new mining licenses in August 2022, according to a statement.
Out of the total, 18 were to build material quarries, 21 were exploration licenses, three exploitation licenses, and five survey licenses, according to the Ministry’s National Industries and Mining Information Center.
The ministry also issued 5 surplus mineral ore licenses in August.
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.
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).