Saudi Ministry of Industry boosts mining exploration with new licenses

The move aligns with the Accelerated Exploration Program initiative, striving for optimal exploitation of natural resources in the Kingdom’s mining sector, in line with Saudi Vision 2030 and the National Industrial Development and Logistics Program. Shutterstock
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RIYADH: Mining sites in Saudi Arabia are set for expanded exploration, with the Ministry of Industry and Mineral Resources announcing winners for metal detection licenses.  

It disclosed the chosen companies for the fourth round of competitions, awarding contracts at Bir Umq, Jabal Sahabiyah and Umm Hadid, the Saudi Press Agency reported. 

Ajlan & Bros Co. and Norinco Co. alliance secured the license for exploring the Bir Amq site, while the partnership of Royal Roads Co. and Meem Sin B Holding Co. obtained the contract for exploring the Jabal Al-Sahabiya site. 

Meanwhile, the consortium of Smo and Koya Silver Co. has been granted permission to explore the Umm Hadid site. 

Furthermore, the ministry clarified that the contracts were awarded based on the evaluation of submitted offers, considering criteria emphasizing technical aspects and work programs. 

The move aligns with the Accelerated Exploration Program initiative, striving for optimal exploitation of natural resources in the Kingdom’s mining sector, in line with Saudi Vision 2030 and the National Industrial Development and Logistics Program. 

In addition, the ministry indicated that exploration licenses would be issued in accordance with the mining investment system and its executive regulations, obligating all firms to adhere to requirements for obtaining various mining licenses. 

Furthermore, the companies are expected to provide evidence of their technical competence and commitment to social and environmental standards to ensure sustainable development in the Kingdom’s mining sector.    

On a similar note, the ministry confirmed its commitment to continue launching mining competitions, with the goal of encouraging and enabling new companies to participate in the sector. 

It is also implementing a continuous evaluation process for mining competitions, ensuring the selection of suitable competitors for mining exploration work, while upholding principles of fairness and transparency. 

The ministry has been actively pursuing opportunities to safeguard the mining sector and optimize its value.    

Additionally, the Kingdom is progressing toward establishing mining as the third pillar of the national industry, aiming to harness mineral resources from over 5,300 sites valued at approximately SR5 trillion ($1.33 trillion).