Saudi Arabia has announced the opening of 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.
The initiative spans 24,946 sq. km. and is part of the Ministry of Industry and Mineral Resources’ larger plan to offer exploration licenses for over 50,000 sq. km. in 2025, following its announcement at the 4th International Mining Conference in January.
The ministry invites both local and international exploration companies to compete for these licenses, aiming to boost mineral exploration and development.
This effort is expected to tap into Saudi Arabia’s mineral wealth, estimated at SR9.3 trillion, and strengthen value-added mineral supply chains, supporting the country’s economic diversification, according to a ministry post on X.
The targeted mineralized belts include Nuqrah and Sukhaybrah Al-Safra in the Madinah region, and Nabitah in Riyadh. These areas are rich in resources such as gold, copper, silver, zinc, and nickel, offering substantial investment opportunities.
The pre-qualification application deadline for exploration licenses is set for May. Geological and technical data for these sites are available on the Tadeen platform, providing investors with insights from previous licenses and surveys conducted by the Saudi Geological Survey Authority.
The ministry aims to make the mining exploration process fully automated, transparent, and fair. The process will consist of three key phases: the pre-qualification phase, site selection and bidding phase, and the final award and licensing phase. The pre-qualification phase, which began in January during the International Mining Conference, will continue until early May.
All essential geological and technical data is available on Tadeen, ensuring a level playing field for all applicants, 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 following global best practices, with an emphasis 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 holding valid exploration licenses for less than five years, according to SPA.
The program aims to reduce risks for early-stage exploration companies, encourage mining sector investment, and complement incentives under the Mining Investment Law, which allows 100 percent foreign ownership and 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 reinforces the Kingdom’s commitment to fostering a transparent and attractive investment environment, as reported by SPA.
This initiative plays a vital role in Saudi Arabia’s Vision 2030, aiming to position mining as a key pillar of economic diversification and a driver of sustainable growth.
