Saudi Arabia has granted exploration licenses for six mining sites located in Riyadh, Makkah, and Asir to 11 local companies. This initiative is part of a broader effort to accelerate the exploration of untapped mineral resources in the Kingdom.
The designated areas cover a total of 850 square kilometers. Below are the details of the awarded sites:
- Asir Region:
Wadi Ad Dawsh: Awarded to Gold and Minerals Ltd Company, this site has potential for gold, silver, and copper ore.
Wadi Al Junah: Assigned to a consortium of The Metal Bank Ltd and Mining Holding Company, it contains deposits of copper, zinc, silver, and gold.
Hazm Shubat: A consortium of RWAKEd and Masharf will explore for gold.
- Riyadh Region:
Umm Qusur: Given to a consortium of ANS Exploration and Odyssey Metals Ltd, this site offers prospects for gold, silver, lead, and zinc.
Shaib Marqan: A consortium of Auking and Barg Alsaman Mining Company will explore deposits of copper, silver, and gold.
- Makkah Region:
Huwaymidan: A consortium of Midad Almona and Tinka Resources will focus on gold exploration.
The companies involved have committed to invest 75 million Saudi riyals in exploration activities and an additional SAR 5 million towards community development near the mining sites.
The seven-year Exploration and Evaluation Program (EEP) aims to boost investment in mineral exploration, particularly for Class A minerals, across a 4,000 square kilometer area. Key elements of this program include 440,000 meters of drilling and the collection of 57,000 geochemical samples.
