JEDDAH: The Ministry of Petroleum and Minerals has issued 1,700 mining licenses involving a total investment of more than SR100 billion, a senior official said yesterday.

Sultan Shawli, deputy minister for mineral affairs, said the revenue obtained by the ministry by issuing licenses has amounted to SR420 million. “The total area licensed for mining reached 52,000 square km,” Shawli said, adding that the licensed companies have already exploited 300 million tons of raw minerals.

He estimated the revenue received by investors in various mineral projects at more than SR16 billion, while their profits amounted to SR6.2 billion. “We have established more than 300 mining complexes.”

The ministry has issued 30 licenses to 15 cement companies to exploit raw materials required for manufacturing cement. These companies have already exploited 52 million tons of limestone, gypsum and other raw material.

For building material, the ministry issued 1,300 licenses including those for taking marble and decoration stones, according to a report carried by Alsharq daily. “We have issued five licenses to exploit gold, silver, copper and zinc. These mines have produced 143,000 ounces of gold, 7.5 tons of silver, 5,000 tons of zinc, 1,600 tons of copper,” he said.

The ministry has also issued 63 licenses to exploit precious minerals, covering 4,000 square km and 29 licenses to exploit industrial minerals covering 329 sq km.

“We have issued three licenses to Maaden to exploit bauxite from Qassim and Hail and more than 50 licenses to exploit phosphate in north and two licenses to exploit phosphate in Jelamaid,” Shawli said.