Saudi Arabia to auction 3 mining licenses in 2022


Digital Desk, Riyadh. Saudi Arabia plans to auction three mining licenses in 2022, including the Khanaguiya mines, where zinc and copper reserves are estimated to be around 26 million tonnes. The bidding process will begin by the end of the first quarter of 2022.

The minister also pointed out that Saudi Arabia has sought to create laws and regulations that contribute to the development of the mining sector and attract investments, Xinhua news agency reported. Meanwhile, Yasser bin Othman Al-Rumayan, governor of the Public Investment Fund (PIF), stressed that many industries of the future depend on the mining sector. He explained that PIF considers mining as one of the main strategic areas for realizing the Saudi Vision 2030 goals.