JEDDAH: Saudi Arabia has launched a new bidding round for three mineral exploration licenses covering 13,000 sq. km, accelerating plans to unlock deposits of gold, silver, copper, zinc and nickel.
In a press release, the Ministry of Industry and Mineral Resources said the licenses span newly defined belts across Madinah, Makkah, Riyadh, Qassim and Hail.
The areas include extensions of key mineralized zones such as the Nabitah–Duwaihi, also known as the Dahlat Shabab belt, which includes the Al-Duwayhi gold mine with an annual production of around 180,000 ounces.
The initiative forms part of efforts to accelerate the exploration of mineral resources in the Kingdom, estimated at around SR9.4 trillion ($2.5 trillion), and represents a key component of Saudi Arabia’s Vision 2030, which aims to diversify the economy and reduce reliance on oil.
“The areas also include the Sukhaybarat–Al-Safra Belt, one of the Kingdom’s most significant mineralized belts, containing gold, copper, silver, zinc and nickel, and extensively explored by the Saudi Geological Survey over the past decades,” the statement said.
