The Ministry of Industry and Mineral Resources (MIM), Saudi Arabia announced the successful bidders in the fifth round of the Exploration Competition.
The competition aimed to award licenses for exploration across six sites in various regions of the Kingdom. These sites are known to contain a variety of base and precious metal ores, including gold, silver, zinc, and copper.
Following Companies have been selected as the preferred bidders for the licensing round of the Al-Halahilah, Jabal Qaran, Makman Hijab, Al-Hijra, Nimas, and Al Miyah exploration sites
- Discovery Arabian Mining Company
- Al Masane Al Kobra Mining Company (AMAK), Alliance of Eqleed Group and Indotan Mining
- Saudi Arabian Mining Company (Maaden)
- Royal Roads Arabia Company
The ministry’s spokesperson, Jarrah bin Mohammed Al-Jarrah, disclosed that the fifth round of the Exploration Competition covered six sites, with a total area of up to 1,000 km², which is the largest area the Kingdom has ever recorded. He added that 30 proposals were received from 18 local and international bidders and evaluated against a set of criteria focusing on technical expertise, work programs presented, and social and environmental commitments.
Al-Jarrah emphasized that the exploration spending provided by the successful bidders in this round exceeded SAR 136 million, with an additional SAR 15 million committed to community development and the creation of job opportunities for local communities within the sites. He further highlighted that the successful bidders have pledged to implement community initiatives across the six sites.
Discovery Arabian Mining Company, the successful bidder for the Al-Halahilah site in Najran Region, pledged SAR 4.9 million for exploration activities, including drilling about 2,000 meters in the first two years and about 20,000 meters in the following three years. The company is also committing about SAR 1.87 million to social development, including purchasing from the local market and allocating 65% of the direct and indirect jobs at the site to the local communities. The Al-Halahilah site covers an area of over 34 square kilometers and contains copper, zinc, and gold minerals.
According to the release, AMAK is committed to allocating SAR 46 million for mining exploration at the Jabal Qaran site in Najran Region, which includes drilling approximately 15,500 meters. AMAK is also committed to allocating SAR 3.5 million towards local community initiatives, with an 80% local purchase commitment. The company also plans to reserve about 20% of the direct and indirect jobs at the site for local communities. The Jabal Qaran site spans over 46 square kilometers and contains copper, gold, and lead deposits.
Moreover, AMAK has allocated SAR 46 million for mining exploration at the Al-Hijra site in Aseer Region, which includes drilling approximately 43,000 meters. An additional SAR 8.5 million will be dedicated to community initiatives, with 80% of purchases sourced from the local market. The company plans to allocate about 45% of the direct and indirect jobs to local communities neighboring the site, which covers more than 274 square kilometers and includes gold, copper, and zinc deposits.
Furthermore, Eqleed Group and Indotan Mining Company Alliance, the successful bidder for the Makman Hijab exploration site in Riyadh Region, which covers an area exceeding 180 square kilometers and includes deposits of gold and silver ores, are committed to allocating over SAR 6.3 million for exploration activities, including drilling 10,000 meters at the site. They will also allocate SAR 200,000 to community initiatives, including purchasing from the local market at a rate of 90%.
Maaden, the successful bidder for the Nimas site in Aseer Region, has committed approximately SAR 17.9 million to mining exploration, including drilling 28,500 meters. Maaden has also allocated SAR 1.35 million to community initiatives and committed 10 to 15% to purchases from the local market. In addition, Maaden will allocate 25% of direct and indirect jobs to neighboring communities within the site. The site covers an area of more than 228 square kilometers and contains copper, silver, and gold deposits.
The Royal Roads Arabia Company, the successful bidder for the Al Miyah site in Makkah Region, has committed SAR 14.6 million for exploration work at the site, including drilling 11,600 meters, in addition to local purchases at a rate of 25%, as well as allocating around 50% of direct and indirect jobs to neighboring communities. The site covers an area of 228 square kilometers and includes deposits of copper, silver, and gold.
According to Al-Jarrah, the ministry is committed to launching the sixth round of exploration licensing sites during the third quarter of this year, adding, “This round will offer nine sites, with the aim of encouraging more investments and enabling small and medium mining and exploration companies to participate in developing the mining sector.” He further called on interested investors to review the nine sites available for tendering and access all related geological, technical data, and reports through the Taadeen platform at www.taadeen.sa/en/mining-bids.
“These mining tenders are part of the ministry’s efforts to achieve the objectives of the Comprehensive Strategy for Mining and Metals Industry. This strategy aligns with the Kingdom’s Vision 2030, which aims to optimally exploit mineral wealth and establish the mining sector as the third pillar of the national industrial economy in the Kingdom,” the release read.
