The Ministry of Industry and Mineral Resources, Saudi Arabia announced the winners of mining tenders, awarding exploration licenses at six mining sites in various regions of the Kingdom.
These sites contain a range of base and precious metals, including gold, silver, zinc, and copper. The licensing is granted as part of the Accelerated Exploration Program, which aims to expedite the exploration and utilization of Saudi Arabia’s mineral wealth, valued at SAR9.3 trillion.
- ANS Exploration and Odyssey Metals limited consortium won an exploration license for the Umm Qusur site, in Riyadh, which contains gold, silver, lead, and zinc.
- Gold and Minerals Ltd Company won an exploration license for the Wadi Ad Dawsh site, in Aseer, which contains deposits of gold, silver, and copper.
- The Auking and Barg Alsaman mining company consortium won an exploration license for the Shaib Marqansite, in Riyadh, with copper, silver, and gold deposits.
- The Metal Bank Limited and mining holding company consortium won an exploration license for the Wadi Al Junah site, in Aseer, which contains copper, zinc, silver, and gold.
- RWAKED and Masharf consortium won an exploration license for the Hazm Shubatsite, in Aseer, which holds gold deposits.
- Midad Almona and Tinka Resources consortium were granted exploration license for the Huwaymidan site, in Makkah, which contains gold as well.
The ministry noted that four companies received exploration licenses for the first time, and highlighted the Kingdom’s attractiveness as a prime destination for investment in the mining sector.
Granting these licenses is part of the ongoing efforts to improve the investment climate in the Kingdom, providing opportunities for both local and international investors in this promising sector.
The latest licenses reflect investor confidence in the Kingdom’s regulatory framework and transparency in the mining sector, which aligns with the Vision 2030 goal of making mining the third pillar of the national economy, and strengthening local industries based on mineral resources.
A total of 44 bids were received from 22 local and international companies, 10 of which were bidding for the first time. The bids were evaluated taking into consideration technical expertise, work programs, and social and environmental commitments. The six sites cover an area of 850 square kilometers.
The winning companies have committed to spending over SAR75 million on exploration activities and an additional around SAR5 million on community development in neighboring areas, contributing to job creation for local residents.
The Ministry of Industry and Mineral Resources is inviting exploration and mining companies to take advantage of the next opportunity to obtain exploration licensing at seven sites on an area of more than 1,070 square kilometers. Bids may be submitted until the end of November.
