Ministry Of Industry Awards Exploration Licenses For 25 Sites And Opens Bidding For Additional 162 In Saudi Arabia

The Ministry of Industry and Mineral Resources has revealed that nine companies, both local and international, have secured exploration licenses for 25 sites in the Nabitah–Ad Duwayhi Belt in the Makkah Region. These companies have pledged over SAR156 million for exploration activities. The ministry also announced that bidding for an additional 10 sites will occur from September 16 to 18, with results pending regulatory approval.

The successful bidders include notable names such as the Ma’aden and Hancock Prospecting consortium, Ajlan and Bros Mining with Shandong Gold Group, and Technology Experts alongside Andiamo Exploration Ltd. Other winners are McEwen Inc. with Sumo Holding, Al-Eitilaf Al Mumayaz for Mining Company, Saudi Gold Refinery, Batin Al-Ard for Gold, Aurum Global Group, and Almasar Minerals.

Meanwhile, the competition for site ND26 was paused due to bids surpassing technical evaluations. The ministry plans to reassess this site following the Mining Investment Law and its regulations to ensure fairness and transparency. This process aims to protect investor interests while adhering to established guidelines.

In a related announcement, the ministry is preparing to auction exploration rights for 162 new mining sites in the Al-Naqrah and Al-Sukhaybirah Safra belts located in the Madinah Region. This initiative aligns with plans to offer over 50,000 square kilometers of mineral-rich areas by 2025. The goal is to broaden investment opportunities and boost exploration spending.

The ministry highlighted that interest from major global firms indicates strong confidence in Saudi Arabia's mining sector. Valued at over SAR9.4 trillion, this sector is crucial to Saudi Vision 2030. It supports economic diversification and aims to establish the Kingdom as a premier mining destination globally.

The ministry remains committed to fostering a competitive environment that attracts both local and international investors. For more information on investment opportunities, interested parties can visit the "Taadeen" platform.

With inputs from SPA