The Saudi Ministry of Industry and Mineral Resources awarded mining exploration licenses to local and international firms, including Vedanta and a local-Chinese consortium. The licenses pertain to high-value mineral deposits in Jabal Sayid and Al Hajar, covering 4,788 square kilometers. An investment of approximately 366 million riyals will support exploration efforts over the next three years, in line with Vision 2030’s objectives to diversify the economy and attract foreign investments.
On March 18, 2025, it was reported that the Ministry of Industry and Mineral Resources in Saudi Arabia has conferred mining exploration licenses to both local and international firms. Among the recipients are Vedanta, an Indian mining company, and a consortium consisting of the local firm Ajlan & Bros and China’s Zijin Mining. These licenses are for exploring the kingdom’s inaugural mineralized belts situated at Jabal Sayid in Madinah and Al Hajar in Aseer, which are rich in base and precious metals, such as copper, zinc, gold, and silver.
In conclusion, the recent awarding of mining exploration licenses by Saudi Arabia is a significant step towards enhancing its mining sector as part of the broader Vision 2030 initiative. The estimated investment of approximately 366 million riyals over the next three years indicates the country’s commitment to boosting its mineral industry, ultimately aiming to attract substantial foreign investment and diversify its economy away from oil dependency.
Original Source: www.mining.com
