The Ministry of Industry and Mineral Resources said that the mining investment system and its executive regulations set 6 types of mining licenses. It consists of a reconnaissance license that includes all types of metals for a period of two years that can be extended, and a detection license for all types of metals for a period of five years for metals of category A and B, and one year for metals of category C.” While it is permissible to renew exploration licenses for metals A and B, and a general purpose license that is linked to a license Mining or small mine, and exploitation licenses that include a mining license for minerals of categories A and B whose license period does not exceed 30 years, renewable or extendable, and a small mine license for minerals of categories A and B whose license period does not exceed 20 years, and a building materials quarry license for category C minerals of up to The term of its license is up to 10 years and can be extended.
The ministry indicated that the executive regulations of the mining investment system achieve sector governance, enhance transparency, and increase investor confidence in it, in addition to the elements of sustainability, as the mining investment system attaches great importance to protecting the environment, health and occupational safety, and the environmental impact study is one of the most important requirements for obtaining a mining license. .
The ministry indicated that the mining investment system with its executive regulations contributes to the development of the mining sector and the exploration of investment opportunities in it, to become the third pillar in the industry and a qualitative source of income in the national economy. Through the optimal exploitation of mineral resources in a manner that achieves the attractiveness of the sector for investment. The system defines the requirements and obligations of mining licenses that cover all investment activities in the mineral sector, including exploration, reconnaissance and mining. The development of local communities is given priority in the executive regulations of the mining investment system, which oblige applicants for mining licenses By submitting a study of the social impact on their projects showing the contribution to the development of the areas adjacent to the mining projects, such as employing the people of these areas in mining projects, raising the percentage of purchases from the local market, and setting plans for effective communication in the vicinity of the project. The “Ta’aen” platform is one of the initiatives aimed at developing and improving the level of business performance in the mining sector, by providing all sector services through channels digital, with the aim of facilitating the investor’s journey and increasing the satisfaction of the beneficiaries