Riyadh - Mubasher: The Ministry of Industry and Mineral Resources announced the companies that won exploration licenses in 6 mining sites in the Riyadh and Makkah regions, as part of the seventh round of mining competitions.

The ministry said on Tuesday that this step comes within the framework of the ministry's ongoing efforts to accelerate the pace of exploration and exploitation of mineral resources in the Kingdom, in line with the goals of the Kingdom's Vision 2030, which aims to make the mining sector the third pillar of Saudi industry.

The Ministry of Industry added that the seventh round ended with the Major Mining Factories Company (AMAC) winning 3 exploration licenses in the sites of “Jabal Al-Khala - North”, “Jabal Al-Khala - South” and “Jabal Al-Da’mah”, and the alliance of Abdul Rahman Saad Al-Rashid and Brothers Company (ARTAR) and the Gold and Minerals Company Limited winning the exploration license for the site of “Umm Hajlan - Al-Ma’malah”, and the alliance of Skylark Company and the Arabian Gulf Mining Company winning the exploration license for the site of “Wadi Al-Laith”, and Power Nickel Company winning the exploration license for the site of “Jabal Baydan”.

The ministry noted that this competition attracted 24 offers from 11 local and international companies, which were evaluated according to criteria that focused on technical expertise, work programs, and social and environmental commitments. This round included 6 sites, with a total area of 890 square kilometers.

The Ministry confirmed that the volume of exploration spending provided by the winning companies in the fifth round competitions exceeds 126 million riyals, in addition to nearly 9 million riyals that the companies committed to spending on developing the communities adjacent to the mining sites, and contributing to creating job opportunities for the people of those areas.

The Ministry of Industry and Mineral Resources launched a number of incentives in cooperation with the Ministry of Investment, including support for companies that have valid exploration licenses for less than 5 years, with a value of up to 7.5 million riyals as a maximum; with the aim of supporting mining exploration in Saudi Arabia, and reducing risks to exploration companies during their early stages, in addition to the incentives stipulated in the Mining Investment System, which allows the establishment of 100% foreign companies, and obtaining financing of up to 75% of capital costs through the Industrial Development Fund.

The mining competitions come within the efforts of the Ministry of Industry and Mineral Resources aimed at achieving the objectives of the comprehensive strategy for the mining sector and mining industries, in line with the Kingdom’s Vision 2030, which aims to optimally exploit mineral wealth and make the mining sector the third pillar of national industry in the Kingdom.

The ministry also plans to offer 50,000 square kilometers of mineralized belts, which contain gold, copper, and zinc, and the details of the competition will be announced during the 2025 International Mining Conference.