Saudi Arabia's New Mining Law
In recent years, Saudi Arabia has witnessed substantial growth in the production of primary, midstream, and downstream mineral and metals products catering to both local and export markets. Currently, as a part of the Kingdom's Vision 2030 program, Saudi Arabia is working to increase the mining sector's contribution to the Saudi economy with the objective of making the mining sector the third pillar of Saudi industry, alongside the oil and gas and petrochemical sectors.
To assist in achieving this goal, Saudi Arabia announced on June 9, 2020, the issuance of a new Mining Law, which offers certain changes and incentives not found in the previous Mining Law. In this White Paper, we will examine some of the more substantial amendments introduced by the New Law.
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