Riyadh: The Ministry of Industry and Mineral Resources has announced the winners of mining tenders, granting exploration licenses for six mining sites across various regions of Saudi Arabia. These licenses are part of the Accelerated Exploration Program, aimed at fast-tracking the exploration and utilization of the Kingdom’s mineral wealth, estimated at SAR9.3 trillion.
According to Saudi Press Agency, the awarded sites host a variety of base and precious metals, such as gold, silver, zinc, and copper. ANS Exploration and Odyssey Metals Limited consortium secured the exploration license for the Umm Qusur site in Riyadh, known for its deposits of gold, silver, lead, and zinc. Gold and Minerals Ltd Company won the license for Wadi Ad Dawsh in Aseer, rich in gold, silver, and copper.
Additionally, the Auking and Barg Alsaman mining company consortium earned the exploration rights for Shaib Marqansite in Riyadh, which holds copper, silver, and gold deposits. The Metal Bank Limited and mining holding company con
sortium were awarded the Wadi Al Junah site in Aseer, containing copper, zinc, silver, and gold. The RWAKED and Masharf consortium claimed the Hazm Shubatsite in Aseer, known for its gold deposits, while Midad Almona and Tinka Resources consortium were granted the license for the Huwaymidan site in Makkah, which also contains gold.
The ministry highlighted the first-time issuance of exploration licenses to four companies, emphasizing Saudi Arabia’s appeal as a significant investment destination in the mining sector. These developments align with the Vision 2030 goal of establishing mining as the third pillar of the national economy, thus bolstering local industries based on mineral resources.
The evaluation process for the tenders considered technical expertise, work programs, and social and environmental commitments. A total of 44 bids were submitted by 22 local and international companies, including 10 first-time bidders. The six awarded sites span an area of 850 square kilometers.
The winning firms have
pledged to invest over SAR75 million in exploration activities and approximately SAR5 million in community development, fostering job creation for local residents. The Ministry of Industry and Mineral Resources is currently inviting exploration and mining companies to apply for the next round of exploration licenses at seven sites, covering more than 1,070 square kilometers, with a submission deadline at the end of November.
