RCU, Ministry of Industry agree on new mechanism for granting mining licenses in AlUla

The new mechanism includes monitoring mining areas, complexes, and licenses, as well as sites of mineralized belts, reserve areas, and important mineral and ore locations within the governorate’s lands. SPA
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Updated 01 October 2024
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RCU, Ministry of Industry agree on new mechanism for granting mining licenses in AlUla

RIYADH: Mining projects in AlUla will soon undergo environmentally focused monitoring as the Royal Commission signed an agreement with the Ministry of Industry and Mineral Resources for granting licenses.   

This deal has been established to ensure sites are considered when planning and designing the authority’s projects. The new mechanism encompasses monitoring mining areas, complexes, and licenses, as well as sites of mineralized belts, reserve areas, and significant mineral and ore locations within the governorate’s lands, the Saudi Press Agency reported.     

As a prerequisite for issuing mining licenses, the mechanism stipulates that applicants within the Royal Commission of AlUla lands must submit an environmental impact study and develop a site rehabilitation and closure plan.   

Companies are also required to preserve water sources, the environment, and wildlife, protecting them from violations and other environmental damage.   

This aligns with RCU’s goal of working closely with partners and communities within Saudi Arabia and beyond to deliver an environmentally and historically sensitive transformation of AlUla.

Additionally, the mechanism further specified the regulatory procedures resulting from granting approvals within the authority’s territories, including the terms and details, in accordance with the mining investment system and its executive regulations. 

It also entails directing applicants for mining licenses to adhere to the requirements and controls stipulated in the mining investment and environmental divisions, in addition to the conditions set by the RCU. 

Increasing visitor numbers to AlUla, the cultural and tourism hub, is already boosting Saudi Arabia’s economy in line with Vision 2030 ambitions. 

Situated in the northwest of the country and covering around 22,000 sq. km, the Kingdom’s historic city also boasts a thriving agricultural sector that plays a pivotal role in its economic development.  

Built upon social, economic, and ecological principles, RCU has outlined a strategic roadmap for the comprehensive development of the area, with the primary objective of assisting the Kingdom in diversifying beyond oil and contributing to the national gross domestic product.   

This strategy encompasses three main pillars including tourism, heritage, and nature, local community and economic diversification.

Phillip Jones, chief tourism officer at RCU, told Arab News earlier this year: “AlUla is an integral part of the tourism objectives driven by Saudi Vision 2030. With AlUla’s regional economy primarily driven by tourism, by 2035, AlUla will contribute a cumulative SR120 billion ($31 billion) to the Kingdom’s GDP.”


Closing Bell: Saudi main index closes in green at 11,382 

Updated 27 January 2026
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Closing Bell: Saudi main index closes in green at 11,382 

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Tuesday, gaining 111.21 points, or 0.99 percent, to close at 11,381.83. 

The total trading turnover of the benchmark index was SR6.37 billion ($1.70 billion), as 204 of the listed stocks advanced, while 56 retreated. 

The MSCI Tadawul Index also rose, adding 13.85 points, or 0.91 percent, to close at 1,533.33. 

The Kingdom’s parallel market Nomu gained 8.39 points, or 0.04 percent, to close at 23,749.38. This came as 30 of the listed stocks advanced, while 45 retreated. 

The best-performing stock was East Pipes Integrated Co. for Industry, with its share price surging 9.94 percent to SR146. 

Other top performers included Tourism Enterprise Co., which saw its share price rise by 9.93 percent to SR14.17, and Thob Al Aseel Co., which saw a 7.84 percent increase to SR3.99. 

On the downside, Saudi Arabian Mining Co. was among the weaker performers, with its share price falling 2.64 percent to SR77.40. 

Saudi Paper Manufacturing Co. saw its shares fall 2.54 percent to SR57.50, while Yamama Cement Co. declined 2.07 percent to SR27.40. 

On the announcements front, Future Vision for Health Training Co. signed a two-year cooperation agreement with King Saud University aimed at strengthening links between academia and professional readiness. 

According to a Tadawul statement, the partnership focuses on the joint development and execution of specialized training programs for university students, aiming to enhance their practical skills and employability. 

The initiative includes coordinated efforts in training design, academic supervision, and program evaluation, with the goal of better preparing graduates for the labor market. 

The agreement, which is renewable by mutual consent, is expected to start generating a positive financial impact in the second half of 2026. The company said no related parties are involved in the deal. 

The company’s share price closed at SR7.30 on Nomu, marking a 1.39 percent decrease.