Saudi Arabia opens bids for three mineralised belts
- Belts cover 13,000 sq km
- May contain gold, silver, copper and zinc
- Private-sector exploration spending surges
Saudi Arabia has opened a bidding round for exploration licences on three mineralised belts across five regions, as part of its push to unlock an estimated $2.5 trillion in mineral wealth, an official has said.
The belts, located in Madinah, Makkah, Riyadh, Qassim and Hail, cover a total area of 13,000 square kilometres and contain prospective deposits of gold, silver, copper and zinc, the state-run Saudi Press Agency reported, quoting a statement from the ministry of industry and mineral resources.
The competition process consists of three stages: pre-qualification, which will remain open until December 15; site selection, and a multi-round live auction planned in the first quarter of 2026.
In November the kingdom announced plans to offer nearly 17,000 sq km of mining plots to investors.
The new round is expected to increase exploration spending, enhance the national geological database, create job opportunities and support sustainable economic growth.
Further reading:
- Saudi miner Amak reveals gold and silver discoveries
- Tech may find Saudi Arabia’s mineral wealth but mining will take years
- Saudi Arabia steps up offers of mining plots
Such rounds have grown significantly since 2021, starting from a single 353 sq km site in Al-Khunayqiyah and reaching more than 13,000 sq km in the 10th phase. The growth has led to a surge in private-sector exploration spending from SAR155 million ($41 million) in 2021 to SAR770 million in 2024, the statement said.
Last year the ministry said the pace of surveys had accelerated in the Arabian Shield, an area of around 600,000 sq km in the west of the country.
The government continues to provide incentives through an enablement programme, offering up to SAR7.5 million per eligible application to support exploration activities and related costs.
You May Also Like
Is Doge Losing Steam As Traders Choose Pepeto For The Best Crypto Investment?
Pastor Involved in High-Stakes Crypto Fraud
