The Saudi Ministry of Industry and Mineral Resources has officially opened the applications for exploration licenses pertaining to three mineral belts located within the Riyadh and Madinah regions, encompassing approximately 24,946 square kilometers. This announcement, made on March 12, 2025, aligns with the ministry's ambitious plan to launch exploration initiatives across more than 50,000 square kilometers during the upcoming Future Minerals Forum scheduled for 2025.
According to the Saudi Press Agency (SPA), this undertaking is part of the ministry's efforts to accelerate exploration and development within the mining and minerals sector, which holds significant potential for generating revenue. The mineral wealth of the Kingdom is estimated to be valued at 9.3 trillion Saudi riyals, underscoring the strategic importance of this resource. The initiative aims to not just maximize the utility of these minerals but also to bolster the value chain associated with them.
The specific belts brought forth for exploration include the Al-Nugrah belt and the 'small deposits' complex situated within the Madinah region and the Duwayhi 'Nabitah' complex located in the Riyadh region. These areas are known to harbor several valuable minerals such as gold, copper, silver, zinc, and nickel, which present considerable opportunities for mining companies.
The ministry has designated the beginning of May 2025 as the deadline for submitting pre-qualification applications for competitive exploration licenses. To facilitate potential investors, the ministry has provided comprehensive geological and technical data on these mineral sites via the 'Taadeen' platform, which offers accessible information on the geographical surveys previously conducted by the Saudi Geological Survey. This move is intended to equip interested parties with the necessary insights needed to make informed decisions.
“The exploration licenses are aimed at accelerating exploration and development to maximize the benefits from the Kingdom's mineral wealth,” as stated by the ministry. This commitment not only reflects the government's dedication to stimulating the sector but also aims to create favorable conditions for attracting local and international exploration firms.
The application process is characteristically structured, divided neatly across three principal phases to promote transparency and fairness. The initial phase focuses on pre-qualification, whereby companies will be evaluated based on their technical capability to undertake exploration efforts. Following this, the site and bidding selection phase will occur, leading to the final phase where licenses will be awarded following careful deliberation and assessment.
Upon announcing the opportunity, the ministry emphasized its commitment to ensuring the entire process is conducted with the utmost transparency and fairness to all investors involved. The initial pre-qualification phase commenced during the Future Minerals Forum earlier this year and is set to run until the designated closing date for applications.
This exploration initiative is expected to significantly contribute to not only the mining sector but also the Saudi economy as a whole, potentially creating jobs, attracting foreign investment, and enhancing the technological capacity of local firms. The government firmly believes this approach will catalyze growth within the industry, ensuring the Kingdom's place as one of the leading players on the global mining stage.
With the engagement of private firms, particularly those with experience handling extensive mineral projects, the ministry anticipates fruitful results as companies express interest based on the geological data provided. It is envisioned this will stimulate not only discovery but also development of resources, making the Kingdom's ambitious geological wealth accessible for broader economic gains.
Overall, this initiative marks a pivotal moment for mining operations within the Kingdom of Saudi Arabia, perfectly timed to align with global trends toward resource exploration and sustainability. Investment, transparency, and strategic planning appear to be at the forefront of this sector's future as the country seeks to solidify its position within the international markets.