The Ministry of Industry and Mineral Resources of Saudi Arabia has recently disclosed the results of its fifth exploration licensing round. This initiative is part of a broader strategy to boost investment in the mining sector, and this round is notable for being the most extensive in terms of area covered by the Kingdom.
Discovery Arabian Mining Company, Al Masane Al Kobra Mining Company (AMAK), Eqleed Group and Indotan Mining alliance, Saudi Arabian Mining Company (Maaden), and Royal Roads Arabia Company have emerged as the distinguished awardees for the Al-Halahilah, Jabal Qaran, Makman Hijab, Al-Hijra, Nimas, and Al Miyah sites, respectively. These areas are rich in a mixture of base and precious metals, such as gold, silver, zinc, and copper.
A spokesperson for the ministry, Jarrah bin Mohammed Al-Jarrah, reported that the latest competition included six sites, spanning up to 1,000 km². A total of 30 proposals from 18 contenders, both local and international, were meticulously evaluated based on their technical knowledge, work plans, and socio-environmental commitments.
Al-Jarrah emphasized that the commitments from the winning bidders surpassed SAR 136 million, with an additional SAR 15 million pledged towards community development and local employment. Each company has also promised to launch initiatives that will benefit the communities around the exploration sites.
For instance, Discovery Arabian Mining Company has dedicated SAR 4.9 million for the exploration of Al-Halahilah site and SAR 1.87 million for social development, ensuring significant local employment and market engagement. Similarly, AMAK has pledged a substantial SAR 46 million for the exploration of both Jabal Qaran and Al-Hijra sites, with significant investments in community initiatives and local hiring.
The Eqleed Group and Indotan Mining alliance have allocated over SAR 6.3 million for the exploration of Makman Hijab site and are dedicated to investing in local community projects. Maaden has committed nearly SAR 17.9 million for exploration at the Nimas site, with additional funds for community development and a focus on local market engagement and job creation.
Royal Roads Arabia Company has also shown commitment by investing SAR 14.6 million in the Al Miyah site, with a strategy to support local employment and procurement. Each site boasts a rich array of mineral resources, promising significant economic benefits for the regions involved.
The ministry has announced its plans to initiate a sixth round of exploration licensing later in the year, with nine sites on offer aimed at attracting more investment and participation from small and medium-sized enterprises in the mining industry. Prospective investors are encouraged to access geological and technical information through the Taadeen platform.
This series of mining tenders supports the Kingdom’s broader vision to harness its mineral wealth and establish mining as a cornerstone of the national economy, in alignment with Vision 2030.
— SPA
13:44 Local Time 10:44 GMT
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