Exploration Enablement Program Wave 3 Accelerates Mineral Exploration And Attracts Investment In Saudi Arabia
The Ministry of Industry and Mineral Resources is working with the Ministry of Investment. Together they have opened Wave 3 of the Exploration Enablement Program application phase. The initiative aims to speed mineral exploration in Saudi Arabia and cut early-stage financial risk. It also seeks to draw domestic and international investors into the Kingdom’s expanding mining and mineral sector.
EEP Wave 3 forms part of a wider effort to use Saudi Arabia’s stable investment climate. Authorities also highlight the streamlined licensing system and integrated mine-to-market infrastructure. The program offers an enablement package for exploration companies and licence holders. It is designed to strengthen project economics and support movement from exploration into later development stages.
Key financial support under EEP Wave 3 focuses on exploration spending and local employment. Companies can receive cash incentives of up to 25% on eligible exploration costs, including drilling, laboratory testing, and geoscientific studies. The program also contributes to salary costs for employees who live in the Kingdom of Saudi Arabia.
| EEP Wave 3 support | Details |
|---|---|
| Cash incentives | Up to 25% of eligible exploration expenditures |
| Eligible costs | Drilling, laboratory testing, geoscientific studies |
| Salary cost support | Employees residing in the Kingdom of Saudi Arabia |
Beyond direct exploration support, EEP Wave 3 includes broad assistance for local salary commitments. During the first two years, the program can cover up to 70% of total local salary costs. After the initial two years, coverage may rise to 100% of local salaries, subject to meeting detailed program requirements.
EEP Wave 3 application timeline and mining sector data
Applications for EEP Wave 3 open on . The Ministry of Industry and Mineral Resources has set a multi-year schedule. It runs from proposal submission through to data publication in 2027. Eligible companies are urged to submit proposals before the Future Minerals Forum, where Saudi Arabia’s mining momentum and investor enablement initiatives will be presented globally.
| EEP Wave 3 timeline | Stage |
|---|---|
| January 14 – : | Proposal submission |
| April 1 – : | Proposal evaluation, approval, and signing of funding agreements |
| June 1 – : | Awarding and announcement of successful applicants |
| September 1 – : | EEP data submission |
| January 2027 | Technical and financial verification of work programs and approval for enablement disbursement |
| April 2027 | Publication of exploration data on the National Geological Database |
EEP Wave 3 combines financial incentives, salary support, and a clear timetable. The program seeks to reduce exploration risk and strengthen projects across Saudi Arabia’s mining and mineral sector. The initiative concludes with publication of exploration data on the National Geological Database in April 2027, providing verified information from funded work programs.
With inputs from SPA
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