The Saudi Ministry of Industry and Mineral Resources has awarded mining exploration licenses to multiple local and international firms, including Vedanta and a consortium of Ajlan & Bros and Zijin Mining, with planned investments of approximately 366 million riyals over the next three years.

In a recent announcement, Saudi Arabia’s Ministry of Industry and Mineral Resources granted mining exploration licenses to several local and international companies. Among the recipients are the Indian mining firm Vedanta, as well as a consortium formed by local company Ajlan & Bros in conjunction with China’s Zijin Mining. These companies are projected to invest around 366 million Saudi riyals, equivalent to approximately $97.59 million, in mining exploration activities over the forthcoming three years.

The awarding of mining exploration licenses by Saudi Arabia to various firms highlights the country’s commitment to expanding its mining sector. With significant financial investments anticipated, the collaboration between local and international firms, including Vedanta, Ajlan & Bros, and Zijin Mining, marks a pivotal opportunity for growth within the industry.

Original Source: www.newarab.com

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