Ministry Of Industry Announces Successful Bidders For Mining Exploration Licenses Across Six Sites

The Ministry of Industry and Mineral Resources has announced the winners of mining tenders, awarding exploration licenses at six sites across Saudi Arabia. These locations are rich in base and precious metals such as gold, silver, zinc, and copper. The licensing is part of the Accelerated Exploration Program, which aims to speed up the exploration and use of Saudi Arabia's mineral wealth, valued at SAR9.3 trillion.

ANS Exploration and Odyssey Metals Limited consortium secured an exploration license for the Umm Qusur site in Riyadh, which contains gold, silver, lead, and zinc. Meanwhile, Gold and Minerals Ltd Company was awarded a license for the Wadi Ad Dawsh site in Aseer, known for its deposits of gold, silver, and copper.

The Auking and Barg Alsaman mining company consortium received an exploration license for Shaib Marqansite in Riyadh. This site holds deposits of copper, silver, and gold. Additionally, Metal Bank Limited and a mining holding company consortium were granted a license for Wadi Al Junah in Aseer, containing copper, zinc, silver, and gold.

RWAKED and Masharf consortium won an exploration license for Hazm Shubatsite in Aseer with significant gold deposits. Midad Almona and Tinka Resources consortium were awarded a license for Huwaymidan site in Makkah, also rich in gold.

The ministry highlighted that four companies received exploration licenses for the first time. This underscores Saudi Arabia's appeal as a prime investment destination in the mining sector. Granting these licenses is part of efforts to enhance the investment climate in the Kingdom by offering opportunities to both local and international investors.

The latest licenses reflect investor confidence in Saudi Arabia's regulatory framework and transparency within the mining sector. This aligns with Vision 2030's goal to make mining the third pillar of the national economy while strengthening local industries based on mineral resources.

Commitment to Community Development

A total of 44 bids were received from 22 local and international companies; 10 were bidding for the first time. Bids were evaluated based on technical expertise, work programs, and social and environmental commitments. The six sites cover an area of 850 square kilometers.

The winning companies have committed over SAR75 million towards exploration activities. They will also spend around SAR5 million on community development projects in nearby areas to create jobs for local residents.

The Ministry is inviting more exploration companies to participate in obtaining licenses at seven additional sites covering over 1,070 square kilometers. Bids can be submitted until the end of November.

With inputs from SPA