By: Arabian business

Saudi Arabia’s Ministry of Industry and Mineral Resources has announced that nine local and international companies and consortia have won the multi-round auction for 25 exploration licences in the Nabitah Ad Duwayhi Belt in Makkah Region, committing more than SR156m ($41.6m) in exploration spending.

The winning bidders include:

• Ma’aden and Hancock Prospecting (“Midana Exploration Pty Ltd”)
• Ajlan and Bros Mining and Shandong Gold Group
• Technology Experts and Andiamo Exploration Ltd
• McEwen Inc. and Sumo Holding
• Al-Eitilaf Al Mumayaz for Mining Company
• Saudi Gold Refinery
• Batin Al-Ard for Gold
• Aurum Global Group

Almasar Minerals

The ministry confirmed that competition for 10 additional sites in the same belt will continue from September 16 to 18, with final results announced after regulatory procedures are completed.

Saudi mining sector

It also noted that bidding for site ND26 was suspended after exploration spend commitments exceeded expected technical evaluations and were deemed commercially unfeasible.

The site will be re-evaluated under the Mining Investment Law and tender guidelines, ensuring fairness and investor protection.

In a related update, the ministry announced that on September 28, 2025, it will launch a new multi-round auction for 162 mining sites in the Al Naqrah and Al Sukhaybirah Safra belts in Madinah Region.

This is part of a wider 2025 plan to offer 50,000sq km of mineral-rich belts to expand investment opportunities and boost exploration activity.

The ministry emphasised that growing international interest reflects strong confidence in Saudi Arabia’s mining sector, with mineral resources valued at more than SR9.4tn ($2.5tn).

The sector is a cornerstone of Vision 2030, supporting economic diversification and the Kingdom’s ambition to become a global mining hub.