Saudi Arabia issued 2,000 mining permits to private sector: Al Falih

Saudi Arabia’s Ministry of Energy, Industry and Mineral Resources has awarded the private sector around 2,000 mining licenses covering about 70,000 square kilometers, with a total value of $66 billion, the official Saudi Press Agency (SPA) said, citing Saudi energy minister Khalid Al Falih.

The ministry has also granted 18 permits to extract gold, copper, zinc and silver, he added, during a meeting with Russian Minister of Natural Resources and Environment Sergey Donskoy.

The announcement came during King Salman’s official visit to Moscow last week, the first by a reigning Saudi monarch to Russia.

At the meeting, Al Falih presented to his Russian counterparts the Kingdom’s Vision 2030, which aims to quadruple the contribution of the mining sector to the GDP.

The Saudi and Russian energy ministries have agreed to form a committee to follow up on their cooperation in the mining sector, SPA said.

Sultan Shawli, Saudi Arabia’s Undersecretary for Mineral Resources, and Russian Deputy Energy Minister Murad Kerimov will head the committee, which will hold ministerial meetings alternately in both countries.

Meanwhile, Russian state-owned Rosgeo has signed an MoU with Saudi Arabia to transfer geological and hydrological expertise and technology, SPA said.

Moreover, an agreement was signed between Maaden and Russia’s PhosAgro in the field of phosphate fuel, gas and sulphur ore.