By: Arab news

Saudi Arabia has launched a new bidding round for three mineral exploration licenses covering 13,000 sq. km, accelerating plans to unlock deposits of gold, silver, copper, zinc and nickel. 

In a press release, the Ministry of Industry and Mineral Resources said the licenses span newly defined belts across Madinah, Makkah, Riyadh, Qassim and Hail. 

The areas include extensions of key mineralized zones such as the Nabitah–Duwaihi, also known as the Dahlat Shabab belt, which includes the Al-Duwayhi gold mine with an annual production of around 180,000 ounces. 

The initiative forms part of efforts to accelerate the exploration of mineral resources in the Kingdom, estimated at around SR9.4 trillion ($2.5 trillion), and represents a key component of Saudi Arabia’s Vision 2030, which aims to diversify the economy and reduce reliance on oil. 

“The areas also include the Sukhaybarat–Al-Safra Belt, one of the Kingdom’s most significant mineralized belts, containing gold, copper, silver, zinc and nickel, and extensively explored by the Saudi Geological Survey over the past decades,” the statement said. 

It added that key projects within these belts include the Sukhaybarat Mine, with estimated reserves of 729,000 ounces of gold, the Bulghah Mine, producing over 50,000 ounces of gold annually, and the Nuqrah Belt, notable for its significant gold deposits and volcanic massive sulfide mineralization. 

These areas leverage a robust technical knowledge base from prior exploration activities, supported by the national geological survey program, which provides comprehensive geological and geophysical mapping of the Arabian Shield. 

Prequalification applications are open until Dec. 15, with technical and geological data available on the government’s Mining digital platform. Qualified bidders will then select sites before entering a multi-round public auction in the first quarter of 2026, where companies compete based on planned exploration spending. 

According to the ministry, this year’s exploration licensing rounds have been designed to be fully automated, transparent and competitive. 

It explained that the process comprises three key phases, beginning with the prequalification stage, which closes in mid-December and requires proof of technical and financial capability. This is followed by site selection through the electronic competition platform and a multi-round public auction in the first quarter of 2026, where qualified companies bid based on proposed exploration spending in high-demand locations. 

The ministry said making comprehensive geological data available through the Taadeen platform is designed to ensure fairness, transparency and efficiency. It added that the move is expected to boost exploration spending, deepen the national geological database, create jobs and support sustainable economic growth in line with the Kingdom’s standards for environmental and social responsibility. 

The ministry noted that the competitive licensing track began in 2021 with the Al-Khunayqiyah site, spanning around 353 sq. km, and has gradually expanded to nearly 24,000 sq. km across three belts announced earlier this year, in addition to the 13,000 sq. km announced now. 

The initiative has attracted major global mining companies and increased private-sector exploration spending from SR155 million in 2021 to SR770 million in 2024 — almost a seven-fold jump — bringing total exploration spending in 2024 to approximately SR1.05 billion. 

The ministry attributed the growth to government support and a more attractive investment environment driven by the mining investment law and its executive regulations. It added that national geological survey programs and expanded access to geological and geophysical data through the National Geological Database Portal have also helped spur investor interest. 

It concluded, noting that support packages and incentives are available through the Exploration Empowerment Program, offering funding of up to SR7.5 million per application to cover exploration activities and other additional incentives.