Industry Ministry extends exploration license period in 3 mineral belts
The Ministry of Industry and Mineral Resources Extends the Competition Period for Exploration Licenses in Three Mineralized Belts Until June 2025
The Ministry of Industry and Mineral Resources has announced the extension of the Pre-Qualification (PQQ) submission period for the competition for exploration licenses in three mineralized belts until June 16, 2025. The extension aims to provide additional time for local and international companies to complete the qualification requirements and enhance participation opportunities amid growing investor interest.
The Ministry recently launched three new mineralized belts for mining competitions, covering a total area of 24,423 square kilometers in the Riyadh and Madinah regions. This initiative is part of the Ministry’s plan to offer more than 50,000 square kilometers of mining sites in 2025, as announced during the 4th International Mining Conference held in Riyadh in January.
The sites include:
Al-Naqrah Belt and Sukhaybah (Al-Safra) Belt in Madinah Region
Al-Duwaihi (Nabita) Belt in Riyadh Region
These areas contain a variety of base and precious metals, including gold, copper, silver, zinc, and nickel.
The Ministry stated that the guidelines for electronic competitions will be available on May 30, 2025, with the competition officially starting on July 1, 2025. Qualified companies will compete electronically for the available sites through a dedicated platform, following strict criteria to ensure maximum transparency and equal opportunities among investors. The competition phase for the exploration licenses will conclude on August 15, 2025, with the winners announced on August 30, 2025 after final approval of the results.
These mining competitions are part of the Ministry’s efforts to accelerate exploration and development in the mining and minerals sector, maximizing the utilization of mineral resources estimated at SAR 9.3 trillion, thereby enhancing value-added chains, supporting Saudi Vision 2030 objectives, and boosting sustainable economic growth.
The competitions are designed according to the highest standards of transparency and governance, using a fully automated system to ensure equal opportunities for all investors. The competition process is divided into three main stages:
Pre-Qualification Stage – to assess the technical capabilities of participating companies.
Site Selection and Bidding Stage
Award and Licensing Stage
The Ministry has made all technical geological data related to the targeted belts available on the “Mining” platform to ensure fairness, transparency, and efficiency in exploration. This step is expected to increase exploration expenditure, enrich the national geological database, create new jobs, and promote sustainable economic growth.
In January, the Ministry, in collaboration with the Ministry of Investment, launched the second phase of the “Mining Exploration Enablement Program”, which provides support of up to SAR 7.5 million per project for companies holding exploration licenses for less than five years. The program aims to support mining exploration in Saudi Arabia, reduce risks for early-stage exploration companies, and encourage investment in this vital sector.
Additional incentives under the Mining Investment Law allow for 100% foreign ownership of companies and financing of up to 75% of capital costs through the Industrial Development Fund.
Over the past years, the Ministry has offered more than 10,000 square kilometers for mining exploration, and the plan to release 50,000 square kilometers in 2025 demonstrates the Kingdom’s commitment to providing a transparent and attractive investment environment, accelerating exploration, and supporting the growth of the mining sector in line with Saudi Vision 2030.