Saudi Arabia has announced a tender for the development of six mining fields. Applications for participation in the tender are accepted from April 1 to May 31, technical proposals must be submitted by the beginning of May, the winners will be announced by the end of July 2024.
The Saudi Arabian government said its untapped mineral wealth is estimated at $2.5 trillion, based on exploration of 30% of the country’s mineral region.
Plots covering an area of 940 square kilometers, rich in gold, copper, zinc, lead, silver, are being put up for tender. The development zone includes a triangle from the southern region of Najran, then through Asir region to Mecca and the capital Riyadh.
According to the kingdom's Ministry of Industry and Mineral Resources, "as Saudi Arabia ramps up its mining operations, it invites local and international investors to bid for the latest round of mining licenses." In March, the Ministry of Industry and the Ministry of Investment launched a program to promote geological exploration worth about $182 million. The program, first announced in January, is aimed at encouraging investment from domestic and international mining companies.
The ministry clarified that participation in the project implies compliance with several criteria, including targeting the exploration of strategic minerals classified as Category A in the mining investment system. These minerals include copper, lithium, nickel, gold and iron.
Mining sites in Saudi Arabia include Al-Halahila, Najran region (copper, zinc, and gold); Jabal Qaran, Najran region (copper, gold, zinc, silver and lead); Makman Hijab, Riyadh region (gold and silver ore); An-Nimas, Asir region (copper, zinc, silver and gold); Al-Hajirah, Asir region (silver, copper, zinc, lead and gold); and Al-Mihah, Makkah region (copper, zinc, lead, silver and gold).
Hélène Tarin for Rough&Polished
