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ESNAD Launches a New Strategy, Accelerates Transformation of Saudi Mining Sector

The Saudi Mining Services Company “ESNAD” unveiled a new strategy that will run through 2026 to accelerate the transformation process of the Kingdom’s mining sector, reported the Saudi Press Agency (SPA).

With a bold vision to boost the sustainable and optimal utilization of mineral resources, ESNAD is currently striving to create innovative digital solutions and capture numerous investment opportunities.

As the executive and operational platform of the Ministry of Industry and Mineral Resources, ESNAD has launched a promising strategy containing a set of strong objectives, as follows:

  • Offering qualitative solutions to facilitate the investment processes
  • Digitalizing all the services for investors
  • Promoting and facilitating the mechanism of granting investment licenses
  • Keeping financial and environmental compliance
  • Capturing talented human cadres

Mining Sector in Saudi Arabia

The new strategy aligns ESNAD’s objectives with the Saudi Vision 2030 that aimed basically to diversify the Kingdom’s economy.

The Saudi Vision 2030 has revolutionized the mining sector and maximized its potentials and visions.

The Kingdom’s comprehensive road map for economic development and diversification has singled out the mining sector as the potential third ‘pillar’ of the industry after petroleum and petrochemicals.

Saudi Arabia has achieved exceptional progress in mining investment in the latest annual assessment of mining investment risks from MineHutte and Mining Journal Intelligence, reported SPA.

Moreover, the Kingdom has witnessed a robust growth in the development of the regulatory and fundamental environment that attracted promising investments during the past five years (2018-2023).

Since the launch of the transformation program in the sector, the Kingdom has become one of the best destinations for mining investment due to its successful legislative structure and regulations.

The report highlighted the following achievements:

  • Saudi Arabia stands out as the second best-performing country in issuing mining licenses.
  • The Kingdom is one of top ten countries in improving the financial policies indexes.
  • Saudi mining sector is one of the prosperous sectors worldwide when it comes to legal regulations.

Related Topics:

Mining Sector Accelerates Saudi Arabia’s Bold Economic Vision

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Digging Deeper: Exploring the Mining Industry in Saudi Arabia

 

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