United Cement signs deal for mining license
UAE Petroleum and Mineral Resources Minister Ali Al-Naimi
has reportedly signed the first of seven licenses for the exploitation of cement raw materials. United Cement Company won the first license for mineral exploitation and its director general, Fahd bin Abdullah Al-Harbi, signed the deal on behalf of his company. "This license is issued as part of the first phase during which two more licenses would be issued to exploit limestone used for Portland and white cement," said Sultan bin Jamal Shawly, undersecretary at the ministry for mineral resources. The licensed area is Hurrat Hadhen in Taif, he said. Shawly also said that the ministry would give the license to the company that makes the largest financial offer. "We ll announce the winners of the second and third licenses next Saturday at the beginning of the new Hijrah year 1433H," he added. He said the licenses are being issued with certain conditions that should be strictly followed by the winning company. "One condition is that they should employ and train Saudi workers and the percentage of Saudi workers should be not less than 40 percent by the end of first year after starting production," he said.