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Trends and Insights

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22 Jan 2024

Saudi Arabia Expands Mining to Diversify Economy

Saudi Arabia has issued [new exploration licenses]( targeting deposits of copper, zinc, lead, and silver as part of its economic diversification under Saudi Vision 2030. Companies like [Ajlan & Bros](, Norin Mining, and the [Kuya Silver Consortium]( have been granted licenses to explore various mineral-rich sites, including Bir Umq and Umm Hadid. The licensing is backed by an over $182 million incentive program to bolster the country's mining sector and reduce oil dependency.