Latest news with #regulatoryreforms
Arab News
5 days ago
- Business
- Arab News
Saudi Arabia's mining sector jumps to 23rd globally in Fraser Institute index
RIYADH: Saudi Arabia's mining sector has leapt 81 places over the past decade to rank 23rd globally in the Fraser Institute's Investment Attractiveness Index, underscoring the Kingdom's rapid emergence as a global mining contender. The rise from 104th place in 2013 marks one of the steepest climbs recorded by the Canadian think tank and puts Saudi Arabia ahead of several established mining destinations in Asia and Latin America. The Fraser Institute credited the surge to sweeping regulatory reforms, strategic investment, and accelerated exploration activity. These improvements reflect investor confidence in a stable regulatory environment and the vast untapped mineral wealth supported by large-scale geological surveys, new discoveries, and competitive mining licensing rounds. The rise aligns with the rapid growth of Saudi Arabia's mining industry, a key pillar of the Kingdom's Vision 2030 diversification strategy. Commenting on the Fraser Institute's 2024 report, Vice Minister of Industry and Mineral Resources for Mining Affairs Khalid Al-Mudaifer said: 'It reflects the structural transformation of the Saudi mining sector in line with the targets of Vision 2030.' He added: 'Our focus remains on maximizing the economic value of our mineral resources, creating jobs for citizens, and localizing supply chains.' The vice minister said mining is no longer a traditional sector; rather, 'it has become a key driver of industrial and economic growth, and we are committed to building on this momentum to ensure sustainable success.' The Kingdom also ranked 20th globally in the Policy Perception Index, up from 82nd a decade ago, and 24th in the Best Practices Mineral Potential Index, rising from 58th. This comes as Saudi Arabia issued a record number of new mining exploration licenses in the first half of 2025, registering a 144 percent increase year on year, official data showed. The Ministry of Industry and Mineral Resources reported that 22 licenses were granted during the period, up from nine in the same period a year earlier, underscoring rising investor interest and the government's drive to build a more competitive and attractive mining sector. Commenting on Saudi Arabia's significant jump in the rankings, Minister of Industry and Mineral Resources Bandar Alkhorayef described the progress as 'unprecedented positive results that align with the Kingdom's rise as a global mining power, reflecting the impact of reforms to enhance competitiveness in the mining investment environment, which have increased global investor confidence.' 'We are proud of this progress and will continue to develop the mining sector to maximize its role in diversifying our economy in line with Vision 2030 targets,' he added. معالي نائب وزير #الصناعة_والثروة_المعدنية لشؤون التعدين، م. خالد المديفر، معلقًا على نتائج المملكة في تقرير معهد فريزر الكندي لعام 2024: "تعكس التحوّل الهيكلي لقطاع التعدين السعودي وفق مستهدفات رؤية 2030". — وزارة الصناعة والثروة المعدنية (@mimgov) August 11, 2025 The Fraser Institute highlighted the Kingdom's broad regulatory transformation, covering areas such as security of tenure, taxation, environmental legislation, infrastructure, and community engagement, which enabled Saudi Arabia to rank in the top quartile of the index for the first time. The report also noted investors had no concerns regarding political stability — one of the Kingdom's key strengths — and commended the Mining Exploration Enablement Program for reducing investment risks and boosting early-stage project confidence. Data from the report showed marked improvements between 2013 and 2024, including a 305.8 percent increase in the clarity and effectiveness of mining administration, from 17 percent to 69 percent, ranking 11th globally. The clarity of land use for mining activities rose by 82.2 percent, from 45 percent to 82 percent, placing the Kingdom 7th globally. The effectiveness of labor regulations improved by 102.2 percent, from 45 percent to 91 percent, while the quality of geological databases saw an 81.8 percent increase, from 33 percent to 60 percent. The Fraser Institute's Annual Survey of Mining Companies is considered one of the most trusted global benchmarks for evaluating mining investment environments and is widely used by investors, governments, and financial institutions to assess opportunities in the sector.
Zawya
6 days ago
- Business
- Zawya
Zimbabwe's Minister of Mines Joins African Mining Week 2025
Winston Chitando, Zimbabwe's Minister of Mines and Mining Development, has confirmed his participation as a speaker at the upcoming African Mining Week (AMW) - Africa's premier gathering for mining stakeholders. During the event, Minister Chitando is expected to outline strategic investment opportunities across the country's mining industry, while highlighting the impact of recent regulatory reforms. Minister Chitando will join African mining ministers at the high-level Ministerial Forum, which will spotlight investment opportunities across Africa's mining jurisdictions. Themed, From Extraction to Transformation: African Governments Driving Beneficiation and Value Addition, the forum will feature presentations from ministers on national strategies to enhance local value addition and increase mineral resource revenues. African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ With Minister Chitando's participation, AMW 2025 will showcase how Zimbabwe is making strides in advancing local content policies and prioritizing community development. The government is reforming its Mines and Minerals Amendment Bill to make community investment mandatory for mining firms, ensuring that mining activities translate into direct social and economic benefits for local populations. Beyond community development, AMW 2025 will explore how the country is strengthening its mineral processing capabilities, particularly in the lithium sector. Following the December 2022 ban on raw lithium exports, the country has attracted over $1 billion in new lithium processing investments. Notable developments include the $310 million investment by British and Chinese firms at the 3-million-ton-per-year Sandawana lithium mine; a $300 million upgrade to the Bikita Lithium Mine by Sinomine Resources; a new 300-ton-per-day processing facility in Mutoko by Rwizi Rukuru; and a further $300 million investment by ZHEJIANG Huayou Cobalt at the Arcadia lithium facility. In a broader move to integrate mining with industrial production, Zimbabwe launched the $3.6 billion Palm River Energy Metallurgical Special Economic Zone and Industrial Park in March 2025. Located in Beitbridge, the project comprises a 100,000-ton ferrochrome smelting facility, a 1,200 MW coal-fired power plant, and a 7-million-ton-per-year coal mine. In addition to lithium, Zimbabwe is advancing its gold industry, seeking to increase gold production to 40 tons in 2025. This builds on a 21.22% growth to 36.48 tons in 2024. The upward trend is supported by new discoveries, including positive results from Kavango Resources' drilling program at Prospect 3 of the Hillside Gold Project in Matabeleland Province, signaling Zimbabwe's growing gold potential. In the platinum group metals (PGM) sector, the country targets greater investment and development. With the world's second-largest platinum reserves and high-grade chromium ores, Zimbabwe is working with global partners to enhance its production capacity. Karo Platinum is advancing its new Ngezi platinum mine, targeting 226,000 ounces per annum. Earthworks were completed in May 2025, and the company is currently seeking $140 million in funding to finalize the project. Meanwhile, Anglo American continues its expansion efforts at the Unki Mine, reinforcing Zimbabwe's position as a key player in the global PGM market. AMW represents an ideal platform for Minister Chitando to attract strategic partnerships and investment, further anchoring Zimbabwe's transition from mineral extraction to value-driven industrialization. Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
23-07-2025
- Business
- Zawya
Nigeria to Showcase Executive Order Reforms, Investment Opportunities at African Energy Week (AEW) 2025
Nigeria is undertaking sweeping reforms across its oil and gas industry, driven by a landmark Executive Order signed by President Bola Ahmed Tinubu aimed at catalyzing investment and eliminating regulatory inefficiencies. At the 'Invest in Nigeria' Roundtable during African Energy Week (AEW) 2025: Invest in African Energies – sponsored by NCDMB and taking place in Cape Town on September 29-October 3 – senior policymakers and industry leaders will unpack the scope of these reforms, explore how they are reshaping the investment landscape, and present new opportunities across upstream, midstream and downstream value chains. Set to speak are Olu Verheijen, Special Advisor to the President of Nigeria on Energy; Arthur Ename, Vice President of Business Development, Africa, at NOV; Nosa Omorodion, Country Director at SLB Nigeria; Alex Irune, Executive Director of Oando and Managing Director of Oando Energy Resources; a senior representative from ExxonMobil; and Philip Mshelbila, Managing Director and CEO of Nigeria LNG (NLNG). The roundtable will offer high-level insight into the regulatory reset now underway and what it means for investors looking to expand or enter the Nigerian market. The Executive Order, signed in April 2025, targets cost efficiency and fiscal competitiveness in upstream operations and introduces performance-based tax credits for oil and gas companies that deliver verifiable reductions in project costs. Under the framework, operators that meet annual cost-reduction benchmarks set by the Nigerian Upstream Petroleum Regulatory Commission are eligible to retain 50% of the incremental government revenue generated by their efficiency gains, with total credits capped at 20% of their annual tax liability. This move directly addresses long-standing concerns over high operating costs in Nigeria's upstream sector, which have historically deterred investment and delayed project execution. By linking tax relief to measurable cost savings, the Order is expected to unlock stalled developments, attract new capital and create a more transparent, performance-driven investment climate. At the AEW 2025 roundtable, speakers will examine how this reform is already reshaping Nigeria's energy landscape – enabling more competitive bidding for contracts, accelerating international oil company divestments and positioning indigenous players to scale up their operations within a more commercially attractive and operationally efficient environment. Nigeria is also doubling down on natural gas as the cornerstone of its long-term energy strategy. With over 200 trillion cubic feet of proven reserves, the country is accelerating infrastructure development to support both domestic utilization and regional exports. A flagship project, the NLNG Train 7 expansion, is nearing completion and set to boost production capacity by 35%, underscoring the critical role of LNG in Nigeria's economic growth and energy transition plans. At the same time, upstream and midstream gas investments are being enabled through policy instruments that promote modular processing, flexible pricing frameworks and improved market access for domestic suppliers. The private sector is poised to play a central role in this next phase. Companies like SLB and NOV are aligning their strategies with the government's push for localization, efficiency and innovation, while firms such as Oando are expanding their portfolios to reflect new realities in the post-Petroleum Industry Act landscape. With enhanced policy stability and a deliberate focus on sector transformation, Nigeria is reasserting its status as one of Africa's most strategic hydrocarbon hubs. Distributed by APO Group on behalf of African Energy Chamber.
Gulf Business
14-07-2025
- Business
- Gulf Business
Saudi Arabia's CMA approves key reforms to strengthen asset mgmt sector
Image: Getty Images/ For illustrative purposes Saudi Arabia's Capital Market Authority (CMA) has approved a wide-ranging package of regulatory reforms aimed at strengthening the asset management industry and aligning it with international standards. The approved amendments cover the Investment Funds Regulations , Real Estate Investment Funds Regulations , and the Glossary of Defined Terms . The reforms are intended to improve transparency, investor protection, fund governance, and operational flexibility, particularly for investment fund managers and real estate investment trusts ( CMA's key changes include Expanded distribution channels: Digital platforms and electronic money institutions licensed by the Saudi Central Bank can now distribute fund units, enabling broader access for investors. New REIT flexibility: Real estate funds traded on the parallel market (Nomu) can invest in development projects without initial asset or percentage restrictions. Risk reduction: Money market and capital protection funds must cap exposure to a single debt instrument at 10 per cent and total exposure to one entity at 25 per cent of net assets. Improved governance: Rules now require CMA approval and a 60-day transition period for changes in fund management, ensuring continuity and investor protection. Retail investor limits: Caps were introduced to limit retail investor subscriptions in private and foreign funds to 50 per cent of total contributions, preventing concentration risks. These changes follow a record year in 2024 when the Assets under management reached nearly SAR700bn, growing 25.2 per cent year-on-year. The CMA said the reforms were finalised after public consultations held in June and October 2024 and in February earlier this year.
Arab News
09-07-2025
- Business
- Arab News
CMA approves new rules to spur Saudi investment fund sector
RIYADH: Saudi Arabia's Capital Market Authority has announced a package of regulatory enhancements aimed at strengthening the investment fund environment in the Kingdom, according to a press release issued on Wednesday. The reforms, which involve amendments to the Investment Funds Regulations, Real Estate Investment Funds Regulations, and the glossary of terms used across CMA regulations, are designed to advance the regulatory framework governing investment funds. The goal is to elevate the competitiveness of the asset management industry by identifying development opportunities, adopting international best practices, and enhancing transparency and governance. The reforms reflect Saudi Arabia's broader efforts to deepen its capital markets and attract more local and international investment, in line with Vision 2030 economic diversification goals. According to a CMA board decision, the updated rules will help expand and develop the investment fund and REIT sectors, increase transparency for unitholders, and improve investor protection through more robust governance standards. Key reforms One of the major changes includes broadening the categories of entities allowed to distribute investment fund units. Under the new rules, fund units may now be distributed via licensed investment platforms and e-money institutions approved by the Saudi Central Bank, including through their websites and mobile apps. Additional reforms cover the procedures for fund termination and the removal of fund managers, as well as new guidelines for voluntary withdrawal by managers of both public and private funds. A key requirement is obtaining CMA approval for such withdrawals, and ensuring that the outgoing fund manager transfers all management responsibilities to a successor within 60 days. This is aimed at safeguarding investor rights and ensuring a smooth transition process. REIT flexibility in parallel market In a move to expand investment opportunities and increase potential returns for investors, the CMA will now allow traded real estate investment funds listed on the parallel market to invest in real estate development projects at the time of fund establishment. These investments will not be bound by the standard asset allocation ratios and restrictions previously outlined in the Real Estate Investment Funds Regulations.
