Saudi Arabia Grants Mining Exploration Licenses to International Firms
Saudi Arabia’s Ministry of Industry and Mineral Resources has awarded mining exploration licenses to several local and international firms, including Vedanta and a consortium of Ajlan & Bros and Zijin Mining. The companies plan to invest over 366 million riyals ($97.59 million) in exploration over the next three years.
On Tuesday, the Saudi Ministry of Industry and Mineral Resources granted mining exploration licenses to various local and international companies, according to the state news agency, SPA. Among the recipients is Vedanta, an Indian mining company, and a consortium that includes Ajlan & Bros from Saudi Arabia and Zijin Mining from China. The ministry indicated that these firms would collectively invest approximately 366 million riyals (equivalent to $97.59 million) in exploration activities over the ensuing three years.
In summary, Saudi Arabia is enhancing its mining sector by issuing exploration licenses to prominent local and international firms. Vedanta, along with the consortium of Ajlan & Bros and Zijin Mining, will invest over 366 million riyals in exploration, marking a significant commitment to the country’s mining industry.
Original Source: www.tradingview.com
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