Industry ministry says Maaden, AMAK among 8 qualified bidders for Khnaiguiyah exploration license

Logo of Ministry of Industry and Mineral Resources

The Saudi Ministry of Industry and Mineral Resources announced that eight companies were qualified to compete for the exploration license at Khnaiguiyah site, Riyadh.
 

The qualified companies are Saudi Arabian Mining Co. (Maaden), Al Masane Al Kobra Mining Co. (AMAK), Alara Saudi Ventures PTY LTD, Moxico Resources PLC, Norin Mining Ltd, Essel Mining & Industries Limited, Vedante Limited, and Ivanhoe Electric Inc The exploration area, spanning over 350 square kilometers, is considered among the largest exploration sites in the Kingdom. It comprises huge mineral resources estimated at about 25 million tons of Zink and copper.
 

The ministry said it will invite qualified companies to submit their proposals, adding that it will hold a conference next April to give more information about the next phase of the licensing process.
 

The qualified companies will be granted a two-month period to complete the second phase of competition, namely submitting proposals and providing supporting documents.
 

In January, Bandar Alkhorayef, Minister of Industry and Mineral Resources, launched the “accelerated exploration” initiative during his visit to Khnaiguiyah, announcing plans to issue three mining licenses to investors in 2022, Argaam reported.
 

Last month, the Ministry of Industry announced receiving the prequalification bids for the metal mining in Al- Khnaiguiyah.
 

The ministry said that a total of 24 prequalification bids were received from top local and international companies for the mining exploration license, adding that 50% of bidders are foreign firms.