Latest news with #NationalGeologicalDatabase
Zawya
06-05-2025
- Business
- Zawya
Saudi ministry extends pre-qualification deadline for 9th exploration licensing round to June 16
Riyadh: The Ministry of Industry and Mineral Resources has extended the deadline for pre-qualification applications for the ninth round of exploration license competition to June 16, 2025. According to a recent ministry release, this extension provides investors additional time to assess investment opportunities across the three mineralized belts covering 24,423 square kilometers, ensuring a fair opportunity to prepare and submit the pre-qualification applications. This also supports the ministry's broader plan to open over 50,000 square kilometers of prospective mining sites for exploration licensing throughout 2025. The targeted belts include Al-Naqrah Belt and Al-Sukhaybirah (Al-Safraa) Belt in Madinah Region, and Al-Duwaihi (Nabaitah) Belt in Riyadh Region. These sites contain a variety of precious and base metals, including gold, copper, silver, zinc, and nickel. The ministry emphasized that this year's exploration license competitions will utilize a fully automated system to ensure transparency and fairness for all investors. The release outlined the key dates for the online bidding process: publication of bidding guidelines on May 30, 2025; the online auction on July 1, 2025; the bidding deadline on August 15, 2025; and the announcement of winners on August 30, 2025. Investors can access relevant geological and technical data on the Ta'adeen Platform to ensure equal opportunities among all the competitors. This step aims to enhance transparency and efficiency in exploration processes, increase exploration expenditure in the Kingdom, enrich the National Geological Database, create job opportunities, and promote sustainable economic growth. These efforts align with Saudi Arabia's commitment to developing the mining sector to meet global standards, with a focus on environmental sustainability and social responsibility.
Arabian Business
18-03-2025
- Business
- Arabian Business
Saudi Arabia opens applications for mining licences as it eyes $2.5tn minerals haul
Saudi Arabia is seeking applicants to explore mineral belts as it plans to exploit a $2.5tn resource opportunity. Saudi Arabia's Ministry of Industry and Mineral Resources has opened pre-qualification applications for the ninth round of exploration licence competitions, covering three mineralised belts spanning 24,946sq km. This initiative is part of the ministry's plan to offer exploration licences for mining sites across over 50,000sq km in 2025, as announced at the fourth Future Minerals Forum in January. Saudi mining industry The licensing round is part of a broader strategy to accelerate greenfield exploration and development in the Kingdom's mining and mineral sector, maximise its mineral resources valued at $2.5tn and enhance value-added mineral supply chains. The ministry specified that the targeted belts include the Al Naqrah Belt and the Al Sukhaybirah 'Al Safraa' Belt in the Madinah region, as well as the Al Duwaihi 'Nabaitah' Belt in the Riyadh region. These sites contain a variety of precious and base metals, including: Gold Copper Silver Zinc Nickel The ministry emphasised that this year's exploration licence competitions are fully automated, transparent, and fair for investors. The process consists of three main stages. The first stage is the pre-qualification stage, which commenced at the Future Minerals Forum in January and will continue until early May. The ministry aims to conclude the ninth round of competitions by the end of August. This stage assesses the technical competence of applicant companies, inviting qualified bidders to submit technical expertise proposals and the social and environmental impact management plans, announcing the winners, and granting the exploration licence. The ministry has made relevant geological and technical data available on the 'Taade'en' electronic platform to ensure equal opportunities among all the competitors. This step is expected to enhance transparency and efficiency in exploration processes, increase exploration expenditure in the Kingdom, enrich the National Geological Database with additional technical information, create new job opportunities, and promote sustainable economic growth. These efforts align with Saudi Arabia's commitment to developing the mining sector to meet global standards, with a strong focus on environmental sustainability and social responsibility. Meanwhile, the Ministry of Investment (MOI), in collaboration with the Ministry of Industry and Mineral Resources, launched the second phase of the 'Mining Exploration Enablement' program in January. The program, which provides financial support of up to SR7.5m ($2m) per project for companies holding valid exploration licenses for less than five years, aims to support mineral exploration in Saudi Arabia, mitigate risks for exploration companies in their early stages, and encourage investment in the sector. This is in addition to the incentives stipulated in the Mining Investment Law, which allows for 100 per cent foreign-owned companies and provides funding of up to 75 per cent of capital costs through the Saudi Industrial Development Fund (SIDF). Over the past years, the ministry has tendered more than 10,000sq km for exploration. The offering of 50,000sq km in 2025 reaffirms the Kingdom's commitment to creating a transparent and attractive investment environment that supports the growth of the mining sector and stimulates investments in line with Saudi Vision 2030.
Trade Arabia
13-03-2025
- Business
- Trade Arabia
Saudi Arabia seeks bids for mineral exploration licences
Saudi Arabia's Ministry of Industry and Mineral Resources has opened pre-qualification applications for the ninth round of exploration license competitions, covering three mineralized belts spanning 24,946 sq km. This initiative is part of the ministry's plan to offer exploration licences for mining sites across over 50,000 sq km in 2025, as announced at the fourth Future Minerals Forum in January. The licensing round is part of a broader strategy to accelerate greenfield exploration and development in the kingdom's mining and mineral sector, maximise its mineral resources valued at $2.5 trillion - and enhance value-added mineral supply chains. The ministry specified that the targeted belts include the Al Naqrah Belt and the Al Sukhaybirah "Al-Safraa" Belt in the Madinah region, as well as the Al-Duwaihi "Nabaitah" Belt in the Riyadh region, reported SPA. These sites contain a variety of precious and base metals, including gold, copper, silver, zinc, and nickel, it stated. The ministry emphasized that this year's exploration licence competitions are fully automated, transparent, and fair for investors. The process consists of three main stages: The first stage is the pre-qualification stage, which commenced at the Future Minerals Forum in January and will continue until early May. The ministry aims to conclude the ninth round of competitions by the end of August. This stage assesses the technical competence of applicant companies, inviting qualified bidders to submit technical expertise proposals and the social and environmental impact management plans, announcing the winners, and granting the exploration license. The ministry has made relevant geological and technical data available on the "Taade'en" electronic platform to ensure equal opportunities among all the competitors, said the report. This step is expected to enhance transparency and efficiency in exploration processes, increase exploration expenditure in the Kingdom, enrich the National Geological Database with additional technical information, create new job opportunities, and promote sustainable economic growth. These efforts align with Saudi Arabia's commitment to developing the mining sector to meet global standards, with a strong focus on environmental sustainability and social responsibility, it stated. Meanwhile, the Ministry of Investment (MOI), in collaboration with the Ministry of Industry and Mineral Resources, launched the second phase of the "Mining Exploration Enablement" program in January. The program, which provides financial support of up to SAR7.5 million per project for companies holding valid exploration licenses for less than five years, aims to support mineral exploration in Saudi Arabia, mitigate risks for exploration companies in their early stages, and encourage investment in the sector, said the SPA report. This is in addition to the incentives stipulated in the Mining Investment Law, which allows for 100% foreign-owned companies and provides funding of up to 75% of capital costs through the Saudi Industrial Development Fund (SIDF), it added. Over the past years, the ministry has tendered more than 10,000 sq km for exploration. The offering of 50,000 sq km in 2025 reaffirms the Kingdom's commitment to creating a transparent and attractive investment environment that supports the growth of the mining sector and stimulates investments in line with Saudi Vision 2030.
Argaam
09-02-2025
- Business
- Argaam
Saudi Arabia logs SAR 1.3B in mining exploration spending in 5 yrs
Saudi Arabia invested SAR 1.3 billion in mineral exploration over the past five years, a significant sum in the sector, according to Abdulrahman Al-Balooshi, Deputy Minister for Mineral Resources at the Ministry of Industry and Mineral Resources. Drilling activity in the Kingdom exceeded 500,000 meters in 2023 alone, Al-Balooshi told CNBC Arabia. The number of exploration companies surged from six to 133 between 2018 and 2023, driven by improved geological data access and ministry incentives such as financial support and land allocations. The ministry's focus is to expand geological data availability and attract more exploration firms to meet industrial needs. Saudi Arabia's geological survey program has completed 80% of its fieldwork, with 60% of the data now accessible via the National Geological Database. Access to data, land, and financing is key for explorers and investors. The ministry plans to offer 50,000 square kilometers of mineralized belt areas for exploration this year, including gold and copper reserves, Al-Balooshi previously told Argaam.
