RIYADH: New limestone mining licenses will be auctioned, Saudi Arabia’s Ministry of Industry and Mineral Resources announced on Monday.
The 13 mining licenses, for the Hufairat Nisah Limestone Blocks Complex in the Riyadh region, will target industrial investors in the ornamental stones field, Saudi Press Agency (SPA) reported.
By holding a public auction process, the ministry is aiming to create a fair environment for bidders, while reaching out to a large number of mining investors to promote national industries in line with the Saudi Vision 2030 objectives, the report added.
The announcement of the auction process and documentation will be via the Tadeen platform.
The auction process will start with a qualification round based on the conditions laid out in the main auction document, with applicants asked to submit their documentation through the Tadeen platform by April 13.
The ministry said it has put regulations and procedures in place that take into account environmental and social impacts of mining activities and rehabilitation of the environment in and surrounding mining sites after termination of activities, in line with international standards and practices.