Saudi Arabia: Saudi Arabia has opened applications for pre-qualification for mining exploration licenses across three mineral-rich belts in the Riyadh and Madinah regions, covering nearly 50 percent of the total area.

This initiative spans 24,946 sq. km. and is part of the Ministry of Industry and Mineral Resources’ broader plan to offer exploration licenses for over 50,000 sq. km. in 2025, following an announcement made at the 4th International Mining Conference in January.

The ministry is inviting both local and international exploration companies to compete for these licenses, aiming to accelerate mineral exploration and development.

This move is expected to harness Saudi Arabia’s mineral wealth, estimated at SR9.3 trillion, and strengthen value-added mineral supply chains to support economic diversification, according to a ministry post on X.

The targeted mineralized belts include Nuqrah and Sukhaybrah Al-Safra in the Madinah region, as well as Nabitah in Riyadh. These areas are rich in resources like gold, copper, silver, zinc, and nickel, presenting substantial investment opportunities.

The pre-qualification application deadline for exploration licenses is set for May. To ensure transparency, geological and technical data for these sites are available on the Tadeen platform, providing investors with insights from previous licenses and geological surveys conducted by the Saudi Geological Survey Authority.

In line with efforts to streamline the licensing process, the ministry has designed this year’s mining exploration competition to be fully automated, transparent, and fair.

The process will consist of three key phases: the pre-qualification phase, which evaluates the technical capabilities of applicants; the site selection and bidding phase; and the final award and licensing phase. The pre-qualification phase began in January during the International Mining Conference and will continue until early May.

The ministry has ensured that all essential geological and technical data is accessible on Tadeen, ensuring a level playing field for all competitors, as reported by the Saudi Press Agency.

This initiative is expected to drive exploration spending, enhance the national geological database, generate new jobs, and contribute to sustainable economic growth. It also aligns with Saudi Arabia’s commitment to developing the mining sector in line with global best practices, with a focus on environmental sustainability and social responsibility.

In a related move, the Ministry of Industry and Mineral Resources, in collaboration with the Ministry of Investment, launched the second phase of the Mining Exploration Empowerment Program in January.

This initiative offers financial support of up to SR7.5 million per project to companies with valid exploration licenses that have been held for less than five years, according to SPA.

The program is designed to reduce risks for early-stage exploration companies, encourage investment in the mining sector, and complement existing incentives under the Mining Investment Law, which allows 100 percent foreign ownership and provides financing of up to 75 percent of capital costs through the Industrial Development Fund.

Saudi Arabia has allocated over 10,000 sq. km. for mining exploration in recent years. The upcoming 50,000 sq. km. for 2025 further underscores the Kingdom’s commitment to fostering a transparent and attractive investment environment, as reported by SPA.