The Ministry of Industry and Mineral Resources is calling all mining prospectors! They’ve announced six exciting new areas for exploration licenses, offering a chance to discover valuable resources like gold, copper, zinc, lead, and silver. These opportunities are spread across various regions of Saudi Arabia, covering a vast area of over 940 square kilometers.
Here’s a breakdown of the available sites:
- Al-Halahila (Najran): This 34+ square kilometer site boasts potential deposits of copper, zinc, and gold.
- Jabal Qaran (Najran): Covering more than 57 square kilometers, this area might hold copper, gold, zinc, silver, and lead.
- Makman Hijab (Riyadh): This 118+ square kilometer site is promising for gold and silver exploration.
- An-Nimas (Asir): Spanning over 222 square kilometers, this area could be rich in copper, zinc, silver, and gold.
- Al-Mihah (Makkah): This massive 234+ square kilometer site offers potential for copper, zinc, lead, silver, and gold exploration.
- Al-Hajirah (Asir): This 274+ square kilometer site might hold deposits of silver, copper, zinc, lead, and gold.
Important Dates:
- May 2024: Deadline to submit technical offers for exploration licenses.
- End of June 2024: Announcement of winners in the bidding stage.
Eligibility and Selection Process:
Local and international companies with experience in mining exploration are encouraged to participate. The Ministry will evaluate proposals based on technical competence, financial strength, and submitted plans, including:
- Technical work programs
- Social and environmental impact plans
- Investment plans
Aiding Exploration and Growth:
This initiative aligns with the Kingdom’s Accelerated Exploration Initiative, launched in 2022. This program aims to unlock Saudi Arabia’s mineral wealth and boost the mining sector’s contribution to the national economy. Additionally, it seeks to create new job opportunities for Saudi citizens.
Incentives for Investors:
The Ministry, in collaboration with the Ministry of Investment, has launched a dedicated incentive package of approximately $182 million to support exploration projects. This package includes financial support for companies and investors venturing into mineral exploration within the Kingdom.
Learn More:
- Exploration Incentives Program: https://taadeen.sa/exploration-incentive
- Exploration License Competitions: https://taadeen.sa/mining-bids
