Saudi Arabia has qualified 24 local and international companies and consortiums to compete for exploration licenses across three multi-mineral belts, the Ministry of Industry and Mineral Resources announced. The belts cover a combined area of approximately 13,000 square kilometers across five regions: Madinah, Makkah, Riyadh, Al Qassim, and Hail.
The licenses target a range of minerals, including gold, silver, copper, nickel, and zinc, with estimated mineral resources valued at SR9.4 trillion ($2.5 trillion). This announcement marks another step in Saudi Arabia's efforts to develop its mining sector and unlock the potential of its largely untapped mineral resources as part of broader economic diversification plans under Vision 2030.
Ministry spokesman Jarrah bin Mohammed Al-Jarrah said that "this competition includes new exploration sites representing an extension of belts previously offered." These include the Nabitah-Duwaihi belt, which contains the Duwaihi mine that produces approximately 180,000 ounces of gold annually, and the Sukhaybarat-Al-Safra belt, a promising area for gold, copper, silver, zinc, and nickel that includes advanced mining projects such as the Sukhaybarat and Bulghah mines. The competition also covers the Al-Nuqrah belt, known for its significant gold deposits and volcanic massive sulfide mineralization rich in copper and zinc.
Al-Jarrah said the list of qualified bidders includes seven new entrants that were not part of the previous qualification round, reflecting the growing attractiveness of Saudi Arabia's mining investment environment. Companies that qualified in earlier rounds remain eligible to participate.
Among the newly qualified companies are Power Metallic Mines Inc, PT ANTAM Tbk, and Wildsky Resources, as well as Maaden, and Danakali Limited. Emerald Sources Mining Co., Sahara Mining Co. Limited, and Thurb Al-Hayya for Trading Co. are also among the qualified firms. They join previously qualified companies including Vedanta Limited, Sierra Nevada Gold, and Jacaranda Minerals Pty Ltd, in addition to Midana Exploration Pty Ltd, Royal Road Arabia, and The Distinguished Consortium Mining Co. DesertEx Pty Ltd, Eqleed-Indotan Mining Co., and Sun Peak Metals, as well as Helderberg Limited, Al Tasnim Enterprises LLC, and Batin Al Ard for Gold Mining, were also returning qualifiers alongside Aurum Global Group, Almasar Minerals Holding Limited, SGR Saudi Gold, and Al Ghazal Al Arabi Mining Co.
The competition will proceed through three stages under the ministry's mining licensing framework. The first stage involved pre-qualification, during which companies were assessed on technical and financial capabilities. In the second stage, qualified companies will gain access to bidding documents and select the sites they wish to compete for. The final stage consists of a public bidding process in which companies compete based on exploration expenditure commitments and other technical criteria. Digital platforms will be used to help qualified companies evaluate opportunities, select sites, and assess the most suitable locations for investment.
The ministry said the licensing rounds form part of broader efforts to develop the mining sector, increase exploration spending, and attract high-quality investment to the Kingdom's mineral resources.
