According to the state news agency SPA, the Saudi Ministry of Industry and Mineral Resources granted mining exploration permits to a number of domestic and foreign companies on Tuesday.
Indian miner Vedanta and a group that included China’s Zijin Mining and the local Ajlan & Bros. were given the licenses.
The first mineralised belts in the kingdom, at Jabal Sayid in Madinah and Al Hajar in Aseer, are covered by the exploration permits. Base and precious metals, such as copper, zinc, gold, and silver, are abundant in both of them.
According to SPA, the licenses span 4,788 square kilometres (1,849 square miles) in total.
Over the following three years, the miners will invest over 366 million riyals ($97.6 million) in exploration, according to the ministry.
The Vision 2030 plan, which aims to diversify the economy and reduce dependency on fossil fuels, includes the kingdom’s expanding mining sector. By 2030, the government’s goal aims to bring in $100 billion annually in foreign investment.
In 2022, Riyadh began issuing permits to foreign miners.
Saudi Arabia raised its 2016 estimate of $1.3 trillion for its undeveloped mineral resources, which include rare earths, gold, and phosphate, to $2.5 trillion last year.
(3.7505 riyals = $1)
source: mining dot com
French 
English