Ministry of Industry Awards SAR 366 Million in Mining Licences
The initiative is part of the Kingdom’s SAR 9.3 trillion plan to unlock and develop its mineral wealth.
The Ministry of Industry and Mineral Resources has awarded SAR 366 million in mining licences to local and international companies for exploration and operations at Jabal Sayid and Al Hajar mines, covering a total area of 4,788 square kilometres. The initiative is part of the Kingdom’s SAR 9.3 trillion plan to unlock and develop its mineral wealth.
Among the awarded companies, Ajlan & Brothers will oversee operations in the southern part of the Hajar mine. Meanwhile, Gold & Minerals Limited Company (GMCO) and Jacaranda Company, a subsidiary of Australian firm Hankook Prospecting, will manage mining activities in the northern section of the mine.
For Jabal Sayid, Vedanta Limited secured the first licence for mining activities in the region, known for its deposits of copper, zinc, sulphur, gold, and silver. Additionally, a joint venture between Ajlan & Brothers and China’s Zijin Mining Group won the second licence, further strengthening foreign investment in Saudi Arabia’s mining sector.
