S. Arabia unveils massive mineral exploration initiative

Saudi Arabia has unveiled its largest mineralised belts, covering 4,788 km² with five exploration licenses. Major mining companies are invited to participate in the Exploration Licensing Rounds to unlock these resources.

Ministry spokesperson Jarrah bin Mohammed Al-Jarrah highlighted that this initiative aligns with Vision 2030, promoting investment and exploration. Three licenses are available at the Jabal Sayad belt (2,892 km²), rich in copper, zinc, lead, gold, and silver. Two licenses are offered at the Al-Hajjar site within the Wadi Shwas VMS Belt (1,896 km²), known for gold, silver, copper, and zinc. These sites represent the largest mineralised belts launched by the Kingdom.

The bidding process, beginning with pre-qualification from July to October 2024, will be transparent. Technical and environmental proposals are due in December 2024, with winners announced in January 2025.

Al-Jarrah emphasised the ministry’s commitment to providing geological data through the Ta’adeen platform, ensuring equal opportunities, boosting exploration spending, enhancing the national geological database, and fostering sustainable economic growth.

Attribution: Saudi Press Agency (SPA)