In a strategic move to enhance its mining sector, Saudi Arabia has awarded exploration licenses for six new mining sites across the Riyadh and Makkah regions. The latest developments are part of the country’s seventh licensing round, which is expected to bolster its domestic mineral exploration efforts, focusing on key resources such as gold, copper, and zinc.

The Ministry of Industry and Mineral Resources recently announced the successful recipients of the exploration rights, which were granted to four prominent companies. Among the successful applicants, Saudi-listed Almasane Alkobra Mining Company (AMAK) secured three licenses for sites in the Jabal Al Klah and Jabal Al Dimah regions, located in the northern and southern parts of the mineral-rich Jabal Al Klah. These sites are expected to provide valuable insight into Saudi Arabia’s underexplored mineral reserves.

A joint venture between Abdulrahman Saad Al Rashid & Sons (ARTAR) and Gold & Minerals Limited won the exploration license for the Umm Hijlan (Mamilah) site, which holds significant potential for mineral resources. Meanwhile, the Wadi Al Lith site was awarded to a consortium comprising SkyLark Group and Al Kalig Al Arabi for Mining, both key players in the sector. The Jabal Baudan site was granted to Power Nickel Company, further diversifying the country’s exploration activities.

The six sites awarded exploration rights span an area of 890 square kilometers, showcasing Saudi Arabia’s commitment to expanding its mining footprint and tapping into its vast mineral reserves. These exploration efforts are expected to contribute significantly to the country’s vision of diversifying its economy away from oil dependence, with a focus on sustainable mining and mineral development.

The Saudi government has been proactive in encouraging foreign and domestic investment in its mining sector. This initiative aligns with Saudi Arabia's broader economic diversification strategy under Vision 2030, which aims to reduce the country’s reliance on oil exports by developing other key sectors such as mining, tourism, and renewable energy. The successful bids for the new exploration licenses indicate strong international interest in Saudi Arabia’s mineral resources, as companies see the long-term potential in exploring and developing untapped reserves.

Additionally, the Ministry of Industry and Mineral Resources has announced plans to offer 50,000 square kilometers of mineralized belts during the upcoming International Mining and Resources Conference (IMARC) in 2025. These areas are expected to contain rich deposits of gold, copper, and zinc, which are increasingly in demand in global markets, especially for use in electronics, construction, and green energy technologies.

Saudi Arabia’s latest exploration efforts highlight the country’s determination to become a global player in the mining sector. By tapping into its untapped mineral resources, the Kingdom is positioning itself as a major source of critical raw materials, paving the way for significant industrial growth and economic development in the years to come.