DAVOS — Saudi Arabia has streamlined its mining licensing process, reducing the time required to obtain a permit to between 30 and 90 days, Minister of Industry and Mineral Resources Bandar Al-Khorayef said at the World Economic Forum Annual Meeting 2026. Speaking during a panel discussion on Wednesday, Al-Khorayef highlighted the contrast between the Kingdom’s approach and that of more established mining jurisdictions. He recalled his surprise at learning that securing a mining permit in Canada can take up to 10 years. “The reason is that we learned very early on that permitting is a major bottleneck in the system,” Al-Khorayef said. “This is especially true in countries that began mining much earlier.” The minister said Saudi Arabia’s accelerated licensing framework is part of broader efforts to modernize the sector and attract investment while maintaining regulatory oversight. Al-Khorayef also addressed the global perception of the mining industry, acknowledging longstanding environmental, social, and economic concerns associated with the sector. “We also have to be very frank: mining does not have a good global reputation — for valid reasons,” he said. “And that’s exactly why we are trying to change this. But speeding up licensing alone is not enough. You also need to show communities and people the real impact of mining on their lives.” His remarks underscored the Kingdom’s strategy of pairing efficient regulatory processes with stronger community engagement, aiming to demonstrate the social and economic value of mining alongside efforts to build a competitive and responsible investment environment. The comments were made on the sidelines of the World Economic Forum, which brings together global political and business leaders to discuss key economic and policy challenges.
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