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AFRICA, AJLAN & BROS, AL HAJAR, ARCELORMITTAL, ASEER, ASIA, CHINA, CHINA ’ S ZIJIN MINING, FRANKLIN PAUL, FURY GOLD MINES, GLOBAL ECONOMY, JA, JABAL SAYID, JOINT COPPER INVESTMENTS, LISA SHUMAKER, MADINAH, MEN, MEXICO, MINING, NORTH AMERICA, OIL PRICES, RIYADH, SAUDI ARABIA, SAUDI VISION 2030, SOUTH AFRICA, SUPPLY CHAIN, TIM CLARK, VISION 2030
Omar El-Sharif
Saudi Arabia Issues Mining Exploration Licenses to Global Firms
Saudi Arabia’s Ministry of Industry awarded mining exploration licenses to local and international firms, including Vedanta and a consortium of Ajlan & Bros and Zijin Mining. Covering key mineralized areas, the licenses are part of the Vision 2030 plan aimed at economic diversification and attracting $100 billion in foreign investments annually. Exploration investments are expected to reach 366 million riyals over three years.
On March 18, 2025, Saudi Arabia’s Ministry of Industry and Mineral Resources granted mining exploration licenses to various local and international organizations, as reported by the Saudi Press Agency (SPA). Notable recipients include India’s Vedanta and a consortium involving local company Ajlan & Bros and China’s Zijin Mining.
The granted licenses pertain to two mineralized areas in the kingdom: Jabal Sayid in Madinah and Al Hajar in Aseer. These regions are rich in base and precious metals, notably copper, zinc, gold, and silver, and encompass a total area of 4,788 square kilometers (1,849 square miles).
The ministry disclosed that the awarded companies are expected to invest approximately 366 million riyals (around $97.6 million) in exploration endeavors over the coming three years. This initiative aligns with the Vision 2030 plan aimed at diversifying the Saudi economy and reducing dependence on fossil fuels.
Since the initiation of the license distribution to international mining firms in 2022, Saudi Arabia has significantly revised its estimates for untapped mineral resources to $2.5 trillion from earlier estimates of $1.3 trillion in 2016. The government aims to attract $100 billion annually in foreign investments by 2030, enhancing the potential of its growing mining sector.
In summary, Saudi Arabia is advancing its mining sector by awarding exploration licenses to both local and international firms, including Vedanta and a consortium with Ajlan & Bros and Zijin Mining. The initiative is part of a broader effort under the Vision 2030 plan to diversify the economy and seek substantial foreign investment. With updated mineral resource valuations, the country positions itself as a significant player in the mining industry.
Original Source: www.mining.com
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