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Last Modified Date: 2026/07/18 - 11:28 AM | Saudi Arabia Time
Last Modified Date: 2026/07/18 - 11:28 AM | Saudi Arabia Time
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His Excellency the Minister of Industry and Mineral Resources, Bandar bin Ibrahim Alkhorayef, announced that the value of the Kingdom's estimated mineral resources has increased by 90%, reaching the equivalent of 9.375 trillion riyals, compared to the estimated 5 trillion riyals announced in 2016. Alkhorayef emphasized that this increase reflects additional quantities, including new discoveries of rare earth elements and transition metals, in addition to significant increases in phosphate ore and other minerals such as copper, zinc, gold, and others. The increase also includes a reassessment of fair prices. His Excellency indicated that the announced results are the result of the efforts made over the past years in exploration and geological mining surveys, in addition to the significant efforts in issuing mineral exploration licenses, which have quadrupled over the past three years compared to the number of licenses during the six years preceding the issuance of the new Mining Investment Law. This law contributed to raising exploration spending from 70 riyals to 180 riyals per square kilometer, which confirms the feasibility of investing in mining exploration operations. The Ministry of Industry and Mineral Resources announced the completion of 30% of the geological survey work in the 700,000 square kilometer Arabian Shield region. The results will be available on the National Geological Database, with a volume estimated at more than 10 terabytes, to serve as an incentive for mining investment. The Geological Survey General Program initiative aims to improve the quality of data and the accuracy of geological maps to enhance and facilitate the exploration of mineral resources in the Kingdom and achieve optimal exploitation. This initiative will contribute to the development of the new mining investment system, making the mining sector the third pillar of national industry in the Kingdom, in accordance with the objectives of the comprehensive strategy for mining and mining industries and the National Industrial Development and Logistics Program.
Saudi Arabia’s Ministry of Industry and Mineral Resources (MIM) has extended the Pre-Qualification Questionnaire (PQQ) for companies interested in participating in its 11th exploration tender license, offering eight mineral-rich exploration sites covering more than 1,878 km². Companies interested in participating are required to register on the Ta’adeen online bidding platform to access and complete the PQQ through the following link https://bidding.taadeen.sa The tender round presents investment opportunities for local and international investors to explore gold, silver, copper, zinc, iron, and nickel across prospective locations in the Riyadh, Hail, and Asir regions, including Ashab adh Dhaib, Jabal Minyah, Al Khashbi, Wadi Khiyam, Jabal Mikhyat, Al Kushaymiyah, Dilan Sumar Al Har (Jabal Aqab), and Jabal Idsas. In response to requests from investors raised during the 5th Future Minerals Forum, the Ministry has extended the PQQ submission deadline until July 31 , noting that investors can review the technical data and bidding documents through Ta’adeen digital platform, designed to enhance procedural efficiency and ensure a transparent bidding process. The licensing round process is fully automated, transparent, and fair for all investors, and consists of three main phases: the prequalification phase, where companies demonstrate their technical capability and financial solvency; site selection through the electronic competition platform, where qualified companies choose from available areas via a grid-based GIS system; and lastly, the multi-round live auction, in which companies compete based on exploration spending commitments for contested sites for the first two years. This package represents the outcomes of the Accelerated Exploration Program, conducted in collaboration with the Ministry and the Saudi Geological Survey (SGS), aimed at accelerating exploration activities in the Kingdom and attracting local and global mining exploration companies. Fieldwork conducted across the sites includes 6,447 surface samples, 8,825 trench samples, 26,229 down-hole samples, and more than 22,767 m of drilling, providing integrated geological and technical data that enhances the readiness of these sites for mining investment. This announcement comes as Saudi Arabia continues to strengthen its position as an attractive global mining investment destination. The Kingdom ranked 10th globally in the Investment Attractiveness Index in the Fraser Institute’s 2025 Annual Survey of Mining Companies, making it the only Asian country in the global top ten, after climbing 13 places from 23rd in 2024 to 10th in 2025.
Saudi Arabia’s Ministry of Industry and Mineral Resources has conducted extensive field inspection visits to projects implemented by mining companies awarded under the first wave of the Exploration Enablement Program (EEP), marking a key milestone in advancing mineral discoveries in the Kingdom. The visits aimed to verify compliance with approved execution plans and to ensure achieving the program objectives are being achieved, including de-risking mineral exploration investments, increasing exploration spending, discovering new strategic mineral deposits and transferring technical knowledge to Saudi Arabia. The field visits were led by Abdulrahman Al-Belushi, Deputy Minister for Mining Resources Management, accompanied by technical teams comprising ministry experts and representatives from Saudi Mining Services Company (ESNAD). The teams reviewed technical reports and exploration results at designated sites to ensure alignment with international standards and with the requirements on which funding approvals were based, as well as the progress of knowledge transfer from experts to junior technical staff. The tour covered six strategic projects owned by companies qualified in the program’s first wave. These included AMAK’s Kutam and Al-Masane projects (gold and copper); Jabal Al-Sahabiyah project (gold and copper) operated by Royal Road Arabia; Maaden project clusters within the Nabitah South, Wadi Bidah, and Shayban mineral belts (gold and copper), and Ajlan & Moxico co-projects in Ar Rayn belt (gold, copper, and zinc). These projects span a total area of 4,000 km2. These field visits reflect the Ministry’s commitment to upholding the highest standards of governance and transparency, and its dedication to ensuring that financial and technical support is directed effectively to accelerate the pace of mineral discoveries across the Kingdom. They aim to expand the volume of geological data and enhance its reliability and quality, thereby reducing investment risks and strengthening the appeal of the Arabian Shield as a leading global mining destination. In addition, these efforts contribute to advancing technical expertise within the mining sector and transferring specialized mining knowledge to national talent, in alignment with the objectives of Saudi Vision 2030. The first wave of EEP qualified six companies were selected to implement 49 exploration projects. The program support and enable exploration activities valued at over SAR 229 million, covers drilling programs, lab testing geophysical and geochemical surveys. It also supports national capacity building by engaging 29 young Saudi professionals alongside 25 international experts across project activities. The ministry will begin the reimbursement process for the second wave by end of September this year. The Ministry, in collaboration with the Ministry of Investment, announced the launch of EEP Wave Three at the fifth edition of the Future Minerals Forum in January. It also confirmed that the application deadline for companies and explorers is March 31, 2026. This round offers a strategic support package that includes cash incentives covering 25 percent of eligible exploration expenditures and salary support for Saudi technical personnel of up to 100 percent. The program aims to accelerate exploration of Class A critical minerals and to make the resulting data publicly accessible through the National Geological Database by April 2027. This will help reduce early-stage investment risk and support the growth of the mining sector, identified as the third pillar of Saudi Arabia’s national economy. For more information on EEP Wave Three and application procedures, please visit: https://taadeen.sa/en/exploration-enablement-program
His Excellency Minister of Industry and Mineral Resources, Bandar bin Ibrahim Alkhorayef, held a bilateral meeting with Bruno Even, CEO of Airbus Helicopters, to discuss joint opportunities for localizing the aerospace industries and its supply chains in the Kingdom. The meeting took place on the sidelines of the World Defense Show 2026 in Riyadh. Discussions focused on strengthening industrial cooperation and expanding strategic partnership opportunities in the localization of aircraft and helicopter manufacturing in Saudi Arabia. The meeting also reviewed ongoing efforts to localize the production of aluminum panels and titanium processing, supporting the requirements of the aerospace sector. The meeting underscored the importance of developing enabling models to attract Airbus Helicopters’ global suppliers and facilitate the establishment or expansion of their operations in the Kingdom, contributing to the resilience and sustainability of global aviation supply chains. Separately, Minister Alkhorayef held a meeting with leaders of Technology Equipment Trading Establshment, specialized in military industries, during which they discussed opportunities to localize defense industries in the Kingdom, the enablers supporting local content development, and efforts to enhance national capabilities in military manufacturing. The meetings were held on the sidelines of the third edition of the World Defense Show 2026, taking place in Riyadh from 8 to 12 February, organized by the General Authority for Military Industries, with active participation from the Kingdom’s industrial and mining ecosystem.