Saudi Gazette report

RIYADH — Minister of Finance Mohammed Al-Jadaan underscored the need for a flexible legislative framework to enable companies to quickly obtain necessary licenses.

“We must leverage the strength of partnerships in complex mining industries that demand substantial investments. The government cannot achieve this alone; it requires understanding operational dynamics and collaborating with the private sector," Al-Jadaan said while addressing the fourth annual Future Minerals Forum in Riyadh on Wednesday.

Al-Jadaan emphasized that all sectors in Saudi Arabia are aligned with the mining sector under the framework of the National Industry Development and Logistics Program (NIDLP). He underscored the importance of mining sector development through significant investments.

The minister highlighted the significance of early investments, including the availability of mining-related data, technical considerations, budget allocations, geological surveys, and support for companies engaged in or entering mining exploration.

Al-Jadaan discussed potential solutions for the mining sector, such as streamlining individual components. He noted that governments are working to provide support by subsidizing logistics services to reduce costs and offering exemptions from certain liabilities and expenses.

He further emphasized the role of multilateral institutions in supporting developing countries by offering assistance and implementing suitable economic policies to support their progress.