Saudi Arabia undertakes $3.8 bln mining investments: official

07/02/2019 Argaam

 

Saudi Arabia is currently undertaking $3.8 billion worth of investments to boost the mining segment and lure private sector investments, deputy minister of energy Khalid Al-Mudaifer said.

 

The Kingdom will also soon launch an exploration initiative in addition several new mining projects, Al-Mudaifer added on the sidelines of “Investing in African Mining Indaba” conference in Cape Town.

 

The new mining law will help reduce the time required to issue licenses to 60 days and issue the production permits in six months.

 

The Saudi Ministry of Energy had finalized the mining investment law, and referred to King Suliman for approval, Al-Mudaifer had told Argaam earlier.

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