Saudi Ministry of Industry and Mineral Resources launches mining reserves, complexes and mining licenses service

This move comes as a preparation for the launch of the new mining investment system, which was recently approved by the government and will come into effect at the beginning of 2021.

The launch of these services comes in respect with Article 4 of the new mining investment system, as it seeks to promote transparency in the sector and provide all relevant parties with access to information about licenses and mining areas.

“The ministry has tirelessly worked, in cooperation with numerous consultancy firms specialized in the field of mining, to develop the new mining investment system, which is now aligned with the best international practices in the relevant field,” said Khalid bin Saleh Al-Mudaifer, deputy minister of industry and mineral resources.

“We are currently working on preparing the executive regulations, conditions and necessary electronic models to deal with all kinds of license applications. We are also working to further develop the Taadin platform, which will be receiving and rapidly dealing with applications after all the requirements become available soon.

“When the regulations, conditions and models are completed, it will be possible, through this platform, to clarify and facilitate the requirements for licenses and businesses and receive the investors’ new applications,” he added, noting “this development in terms of mining-related legislations in the Kingdom is an important part of the Kingdom’s mining strategy, which is an integral part of the ambitious 2030 Vision and the National Industrial Development and Logistics Program, that aim at developing the mining sector, turning it into the third pillar of the Saudi industrial sector.”