Mining Investment Law approved by Resolution No.634 of 2020 issued by Royal Decree No. M/140 of 2020. Country/Territory Saudi Arabia Document type Legislation Date 2020 Source FAO, FAOLEX Subject Environment gen., Land & soil, Mineral resources, Water, Waste & hazardous substances Keyword Mining Protection of environment EIA Basic legislation Business/industry/corporations Special fund Sustainable development Access right Exploration Minerals Monitoring Inspection Registration Offences/penalties Authorization/permit Royalties/fees Hazardous waste Waste management Sustainable use Geographical area Asia, Middle East, Near East and North Africa, Persian Gulf, Red Sea & Gulf of Aden, Western Asia Entry into force notes This Law enters into force 180 days after its publication in the Official Gazette. Abstract This Law consisting of 63 articles divided in VIII Sections and I Annex aims at (i) repealing the previous Mining Law introducing certain changes and incentives; (ii) attracting foreign investors to the sector in order to implement Saudi Vision 2030's goals for the Saudi mining industry; and (iii) diversifying the national economy away from hydrocarbons. Key amendments to the 2004 Mining Investment Law are the following (i) establishment of a new fund (art.54) to provide sustainable finance for the development of the mining sector as well as to support geological survey and exploration programs; (ii) an increase in the types of land on which mining activities may be undertaken establishing the prohibition of mining licenses for (a) lands occupied by Holy Places or military establishments; (b) lands specified by a Council of Ministers resolution; and (c) lands reserved for hydrocarbon3 operations or as hydrocarbon exploration area (art.7); (iii) the creation of a mineral zones register; (iv) the competent representative of the MOIMR has been given the capacity of judicial officers, and is authorised to enter the licenced site to inspect, monitor, control violations and ensure the licencee’s compliance with the Law; and (v) a more comprehensive violations and penalties regime, together with the decision that one or more committees will be established by a decision of the Minister of the MOIMR who will be tasked with determining violations and imposing the applicable penalties. Full text English/Arabic Website new.dmmr.gov.sa; https References - Legislation Repeals Mining Investment Law approved by Resolution No.216 of 2004 issued by Royal decree No. M/47 of 2004. Legislation | Saudi Arabia | 2004 Keyword: Basic legislation, Minerals, Mining, Exploration, Maritime zone, Continental shelf, Natural gas, Authorization/permit, Registration, Inspection, Monitoring, EEZ-Exclusive Economic Zone, Protection of environment, Royalties/fees Source: FAO, FAOLEX