Saudi Arabia Opens Bidding for Mining Exploration Licenses to Boost Investment

Saudi Arabia is inviting global investors to bid for exploration licenses across eight promising mining sites, a move aimed at accelerating the discovery and exploitation of the Kingdom's vast mineral resources, estimated to be worth $2.5 trillion.

The Ministry of Industry and Mineral Resources announced the start of the pre-qualification process for licenses in the Riyadh, Hail, and Asir regions. These sites, covering a total area of 1,878 square kilometers, are rich in gold, silver, copper, zinc, and iron, offering unique investment opportunities for both local and international companies.

The ministry emphasized that the competition is fully automated, transparent, and based on equal opportunities. The process consists of three main stages: pre-qualification (ending in April), site selection via an electronic platform (until mid-May), and a multi-round public auction where companies compete based on exploration commitments and spending (until mid-June). Winners will be announced in early July.

Among the sites on offer is the Dhilaian Smar Al Har (Jabal Aqab) site, with exploration indicating gold quantities ranging from 59,800 to 220,000 ounces. Another key site is Jabal Idsas, one of the most promising locations in the Arabian Shield for high-grade iron ore, with quantities estimated between 1.3 and 6.7 million tons at a 65% iron content.

Other sites include Ashab al-Dhiab, covering 188.94 square kilometers, which potentially contains between 9,100 and 140,00 ounces of gold; Jabal Makhit, where gold mineralization is associated with quartz veins; Jabal Muniyah, rich in gold, tin, and tungsten mineralization; and Al-Khashimiyah, spanning 98.15 square kilometers, showing indications of silver mineralization, with one quartz vein showing high grades of up to 133 grams/ton of silver, as well as lead and zinc mineralization.

The sites also include Wadi Khayyam, which contains orogenic gold deposits and newly discovered gold-bearing veins, underscoring significant future exploration potential.

Also included is the Al-Khashbi site, which has undergone advanced geological and geophysical surveys with promising indicators and mineralization zones for copper and zinc.

The ministry stated that these sites are the result of its accelerated exploration initiative, in collaboration with the Saudi Geological Survey. Fieldwork included the collection of 6,447 surface samples, 8,825 exploration trench pits to determine the type and extent of mineralization, 26,229 samples, and the completion of 22,767 meters of drilling, including diamond drilling.

The application window for pre-qualification extends until April 30, 2026. Investors can submit their applications and access technical data and competition documents through the “Tadeen” digital platform, enhancing efficiency and ensuring fairness among all participants.