Saudi Arabia has granted new exploration licenses for mineral mining to both local and international companies, including Vedanta Resources (India) and the Ajlan & Bros–Zijin Mining (Saudi–Chinese) consortium.
The licenses cover mountainous regions such as Jabal Al-Said (Madinah Province) and Asir, spanning a total area of 4,788 km². Estimated investments are valued at SAR 366 million (approx. USD 97.5 million) over the next three years.
This initiative forms part of the Kingdom’s broader Vision 2030 strategy, aimed at diversifying the economy and attracting over USD 100 billion in annual foreign investment into the mining sector.
Saudi Arabia has also revised its estimate of untapped mineral resources to USD 2.5 trillion, underscoring the Kingdom’s potential to become a global mining powerhouse.
Source: Reuters