The Saudi Ministry of Industry and Mineral Resources said it would implement the royal decree to add a new article to the mining investment system which stipulated the jail term and fines
mining
mineral resources in saudi arabia
Saudi Arabia issues 21 new mining licenses in October in bid to boost output
The new licenses, issued by the Ministry of Industry and Mineral Resources, included 16 for quarries of building materials, four for exploration, and one for surplus mineral ores
commodity prices
Saudi Arabian Mining Company posts 71% jump in net profit to reach SAR 2.7 billion in Q3, 2022
The company’s sales also registered a 50 percent rise in Q3 2022 to reach SAR 10 billion
Auction
19th-century Levi’s jeans sells for over $87,000 in auction
A pair of jeans found in an abandoned mine sold at record breaking price, only a few similar pairs exist in museums
Maaden
Two consortiums bid for development rights for Saudi Umm Ad Damar mine
The mining site has copper, zinc, gold and silver prospects
drilling
ADNOC Drilling orders a third $70 million jack-up drilling unit in three months
With the $70 million acquisition, the Abu Dhabi-based company will have a fleet of 28 units by the end of the year – one of the largest in the world
Khnaiguiyah
Three mining consortiums shortlisted for final exploration bid for Saudi Arabia’s largest mining site Khnaiguiyah
The final stage of the licence application process will be kicked off on September 4
economic diversification
Saudi Arabia has the potential to emerge as a major mining sector player globally: Ivanhoe Mines exec
Friedland, a mining sector expert, singled out the huge copper deposits in Saudi Arabia, which can propel the country to an envious spot globally, considering the high demand expected for this mineral in the future
mining
Abu Dhabi’s Mubadala sells Spanish mining firm MATSA
Deal completed to sell MATSA which operates two mines in Almonaster La Real and one mine in Huelva, Andalucia
Africa
Saudi mining major chases more African exports after Malawi terminal opening
Ma’aden says the new fertiliser terminal in Liwonde will serve over 5m farmers in Malawi and Zambia
Maaden
Saudi state miner Maaden said to name third CEO in 13 months
Abdulaziz Al Harbi, a senior vice president at Saudi Arabian Mining Co., will replace Mosaed Al Ohali as acting CEO until further notice
Biodiversity
Video: Curbing the great sand grab
Up to 50 billion tonnes of sand a year is being mined, dredged and even stolen to satisfy the global appetite for infrastructure, according to the UN, and it’s disappearing faster than it can be replenished.
energy sector
Saudi Arabia expands mandate of $28bn fund to energy, mining projects
The Saudi Industrial Development Fund previously only provided financing to local manufacturing businesses
Abdulla Kalban
UAE industrial major secures $750m loan for Guinea project
Emirates Global Aluminium subsidiary has closed the Republic of Guinea’s largest-ever project financing for a greenfield mining project
Darren Davis
Saudi mining giant says to make first international acquisition
Ma’aden says deal for an 85% stake in the Mauritius-based Meridian Group is due to be completed by September
African continent
UAE follows Saudi Arabia with $10bn pledge to South Africa
Commitment is made during the first state visit by South African President Cyril Ramaphosa to the UAE
Agriculture
Gulf investors urged to tap agriculture and gold industries in Africa
Investors explore opportunities in Africa at global conference