Saudi Ministry of Industry accepts 3 bids for Khnaiguiyah mining site license

24/08/2022 Argaam
Logo ofThe Ministry of Industry and Mineral Resources

Logo of The Ministry of Industry and Mineral Resources


The Ministry of Industry and Mineral Resources announced accepting three bids for participation in the final stage of competition for a license to explore Khnaiguiyah mining site.  

This is the largest exploration license in the Kingdom over an area of ​​354 square kilometers, west of Riyadh.  

The ministry received six offers from international companies and alliances for the license and accepted three of them.  

The three bids are from an alliance between Saudi Arabia's Alara Ventures and Al Tasnim Group, an alliance including Saudi Arabian Mining Co. (Maaden) and Ivanhoe Electric Co., Ltd, as well as an alliance comprising Mochico Resources Ltd. and Ajlan & Bros. Mining Co. 

 

The ministry added that the final stage of competition will start on Sept. 4, until the announcement of the license winner. 

 

Khnaiguiyah is the largest exploration site in the Kingdom, as it includes mineral resources estimated at 25 million tons, of which zinc and copper dominate 4.11% and 0.56%, respectively. 

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.