Saudi Arabia’s mining sector is experiencing a surge, with a staggering 138% increase in exploitation licenses issued since a new mining law in 2021. This boom is driven by the government’s push to unlock the country’s vast mineral wealth, estimated at $2.4 trillion. The number of permits has skyrocketed, jumping from just eight in 2021 to 19 in 2023.
This strategic shift aims to transform mining into a cornerstone of Saudi Arabia’s industrial sector. Initiatives like the Accelerated Exploration Program and streamlined licensing procedures are fueling the growth, with building material and exploration licenses witnessing even more dramatic increases – 241% and 347% respectively.
This surge in activity positions Saudi Arabia as a major player in the global mining landscape, attracting significant investment and technological advancements. The future of the Kingdom’s mining sector appears bright, driven by a strategic vision and international partnerships.
