Industry Ministry offers 4,778-km mineral belts for bidding

Logo of Ministry of Industry and Mineral Resources

The Ministry of Industry and Mineral Resources invited local and international exploration and mining companies to bid for the first-of-its-kind mineral belts that span 4,788 square kilometers, SPA reported.

This came within the ministry's plan to offer exploration licenses within belts.

The ministry clarified that these belts include three exploration licenses in Jabal Sayid mine, which covers an area of 2,892 square kilometers and contains a range of base and precious metals, including copper, zinc, lead, gold, and silver.

Additionally, there are two exploration licenses in the Al-Hajjar site located in the Wadi Shawas Belt, covering an area of 1,896 square kilometers, with various precious and base metals, including copper, zinc, gold, and silver.

The move aims to attract major international and local mining companies to explore these strategic minerals, which contribute to energy transition and enable other industrial sectors, said Jarrah Al-Jarrah, the ministry’s spokesperson.

Al-Jarrah indicated that the bidding will begin with the pre-qualification stage from July to October 2024, followed by the release of the information memorandum and invitation to submit proposals, technical work programs, as well as social and environmental impact plans in December 2024.

The winners will be announced in January 2025, he added.

Al-Jarrah explained that the Jabal Sayid Belt area includes the Mahd Al-Dhahab, which is the oldest mine in the Kingdom, containing gold, silver, and copper ores.

Additionally, Jabal Sayid, which is the largest copper ore-producing mine in the Kingdom, is located there. The Al-Hajjar site, which includes the Al-Hajjar gold and copper mine, is currently inactive and produces approximately 40,000 ounces of gold annually.