Prime Highlights
- Four major consortia have won exploration licenses in Saudi Arabia’s eighth mining round, marking a major step in expanding the Kingdom’s mineralized belts.
- Future mining rounds will cover even larger areas, reflecting Saudi Arabia’s strategy to attract global investment and strengthen its industrial base.
Key Facts
- The eighth round covered 4,700 sq. km, while the upcoming ninth and tenth rounds will span 25,000 sq. km and 13,000 sq. km, respectively, with license plots starting from 1,000 sq. km.
- The number of companies in the mining sector has grown from 3 to 226, with foreign firms accounting for 66% of large and medium-sized operations.
Background
Saudi Arabia’s mining sector is growing rapidly as four major consortia won exploration licenses in the country’s eighth mining round, a key step in expanding its mineral-rich areas. The Ministry of Industry and Mineral Resources said future rounds will offer even larger areas, highlighting the Kingdom’s push to attract international investment and boost its industrial sector.
At the handover ceremony in Riyadh, Vice Minister for Mining Affairs Khalid Al-Mudaifer highlighted the growing scale of exploration opportunities. The eighth round covered 4,700 square kilometers, attracting applications from 18 companies, of which 12 qualified, resulting in 13 partnerships before four major alliances secured licenses. Winners included Al-Ajlan’s partnerships with China’s Norin and Zijin Mining, Al-Rashed’s ARTAR alliance with Australia’s Hancock Prospecting, and the multinational Vedanta, registered in the UK and India.
Al-Mudaifer announced that the ninth round will be significantly larger, covering 25,000 square kilometers, while the tenth round is expected to span around 13,000 square kilometers, with plots starting from 1,000 square kilometers. This expansion comes after earlier licensing rounds were limited to areas of no more than 100 square kilometers per license.
The Vice Minister emphasized that Saudi Arabia’s mining sector has seen rapid development since the launch of Vision 2030. The number of companies in Saudi Arabia’s mining sector has grown from just three to 226, with foreign firms making up 66 percent of the large and medium-sized operators. The Ministry has improved licensing procedures, clarified policies, and supported social programs linked to mining, making the sector an important part of the national economy.
“These changes, along with Saudi Arabia’s untapped mineral resources, have led to larger exploration areas and new licensing opportunities, allowing investors to take on bigger projects,” Al-Mudaifer said.
The Kingdom’s mining industry is now set for further growth, offering promising opportunities for both local and international investors.
