Saudi Arabia Launches Multi-Round Auction For Mineral Exploration Licenses Covering 24,423 Square Kilometres

The Ministry of Industry and Mineral Resources has initiated a multi-round auction for mineral exploration licenses. This auction covers three mineralized belts, spanning 24,423 square kilometers. The bidding process, which started on September 1 and will conclude on September 12, is being broadcast live on the ministry's YouTube channel to ensure transparency.

Jarrah bin Mohammed Al-Jarrah, the ministry's spokesperson, highlighted the significant international interest in this auction. A total of 61 companies submitted applications, with 31 bids from 23 individual companies and eight consortia advancing past the pre-qualification stage. This marks a notable level of global participation.

The three mineral belts included in this auction are situated in Riyadh and Madinah regions. These are the Al-Naqrah Belt and Sukhaybarat (Al-Safra) Belt in Madinah, along with the Al-Duwaihi (Nabitah) Belt in Riyadh. These areas are rich in various metals such as gold, copper, silver, zinc, and nickel.

The auction process is divided into three stages: pre-qualification, site selection via the Ta’adeen digital platform, and a public multi-round auction for sites chosen by multiple qualified bidders. The first phase of live bidding has begun for the Al-Duwaihi (Nabitah) belt. Qualified bidders are competing based on their exploration spend commitments.

The auctions for the Al-Naqrah and Sukhaybarat (Al-Safra) belts are set to commence soon. The ministry has also announced plans to launch another round of exploration licensing tenders in Q4 2025. This future round will offer additional mineral-rich sites to both local and international investors.

For those interested in participating or learning more about these opportunities, they can visit the Ta’adeen platform at https://taadeen.sa/en/mining-bids.

With inputs from SPA