Qualifying 24 Saudi and international companies for mineral exploration competitions in 5 regions
The Ministry of Industry and Mineral Resources announced the qualification of 24 local and international companies and coalitions to compete for exploration licenses in 3 multiple mining belts in Saudi Arabia.
The Ministry of Industry explained that these belts cover a total area of about 13,000 square kilometers distributed over five regions: Medina, Makkah Al-Mukarramah, Riyadh, Al-Qassim, and Hail.
These licenses target a variety of minerals, including Mining sector and exploiting the potential of its untapped mineral resources, within the framework of broader economic diversification plans within Vision 2030.
The Ministry’s official spokesman, Jarrah Al-Jarrah, said: "This competition includes new exploration sites that represent an extension of previously proposed belts"
These areas include the Nabita-Ad-Duwayhi belt, which includes the Ad-Duwayhi mine, which produces about 180,000 ounces of gold annually, and the Sukhaybarat-Al-Safra belt, which is a promising region for gold, copper, silver, zinc and nickel, and includes advanced mining projects such as the Sukhaybat and Bulgah mines.
Competition also includes the Nuqra belt, known for its large gold deposits and rich massive volcanic sulphide mineralization. With copper and zinc.
Al-Jarrah explained that the list of qualified competitors includes 7 new competitors who did not participate in the previous qualification round, which reflects the attractiveness of the Mining investment in the Kingdom of Saudi Arabia is growing. Companies that qualified in the previous rounds are still eligible to participate.
Competition stages
The competition takes place in three stages within the Ministry’s mining licensing framework. The first stage includes pre-qualification, where companies are evaluated based on their technical and financial capabilities.
In the second stage, qualified companies will be able to view the tender documents and choose the sites they wish to compete for. The final stage consists of a public tender process in which companies compete based on exploration spending commitments and other technical criteria.
Digital platforms will be used to help qualified companies evaluate opportunities, select sites, and determine the most suitable locations for investment.
The Ministry explained that the licensing rounds come as part of broader efforts to develop the mining sector, increase exploration spending, and attract high-quality investments to the Kingdom’s mineral resources.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
