Mining has had a long history in Saudi Arabia, starting from the discovery of ancient sites in the western region to the prolification of the industry in the 1930s, alongside the introduction of oil.
Today, mining continues to be a key activity in the Kingdom. Alongside the longstanding presence of the oil, gas, and petrochemical industries, mining is poised to become another pillar of industrial growth. For that reason, the industry is a key segment of the economic diversification plans under Saudi Vision 2030.
To meet the goals of Saudi Vision 2030, the nation’s leaders have been dedicated to growing the mining sector by way of both private investments and government support.
Besides the world’s biggest oil reserves likely being in Saudi Arabia, minerals like gold, copper, zinc, phosphate, bauxite, and iron are also in high supply. All this presents an open door for mining to also push economic growth, especially in less developed areas within the Kingdom.
The Saudi Arabian Mining Company Ma’aden was formed by the government to oversee the sector’s development. This, along with their other efforts, aims to increase the mining industry’s GDP contribution from 1% to 10% by 2030.
Saudi Arabia has been implementing various economic and legal reforms to create a more favourable business environment. Initiatives such as Vision 2030 have been pivotal in refining the KSA’s business landscape.
Investors who want to conduct mining activities in Saudi Arabia can apply for this license type.
A copy of the shareholding partner’s commercial registration, certified by the Saudi Embassy2
A copy of the national identity if one of the partners is a natural person holding the nationality of one GCC country (in case his data is not registered in the ABSHAR system)3
Financial statements covering the foreign company’s last financial year, certified by the Saudi Embassy.
The total percentage of the Saudi shareholder/s and the capital according to the financial limits set forth for the type of activity must be consistent with one another.2
Premium residence holders will be exempted from the above documents.3
If one of the partners was previously licensed by the Ministry of Investment, this must be mentioned when filling in their data during the electronic application.4
Applicants must enter the data of the Saudi national identity/Premium residence/residence if one of the partners holds any of them, or the commercial registration data for the participating Saudi companies during the electronic application submission.
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