Mineral belts bidding to unlock Arabian Shield minerals: Almudaifer

Khalid Almudaifer, Vice Minister of Industry and Mineral Resources

Khalid Almudaifer, Vice Minister of Industry and Mineral Resources, said the Kingdom aims to accelerate the exploration of Arabian Shield'smineral resources as it invited bids for the first mineral belts among local and international companies last week.

The ministry's bidding for the first-of-its-kind exploration licenses at JabalSayidand Al-Hajjarwillspeed up the exploration of mineral resources in the Arabian Shield region, Al Eqtisadiah newspaper reported, citing Almudaifer.

He added that this comes as part of the ministry's plan to offer exploration licenses in the mineralized belts, aiming to speed up the exploration and exploitation of mineral resources in the Kingdom, in line with Vision 2030, which seeks to make the mining sector the third pillar of the national economy.

The ministry invited local and international exploration and mining companies to bid for the first-of-its-kind mineral belts that span 4,788 square kilometers, Argaam reported earlier last week.

These belts include three exploration licenses in JabalSayid 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 WadiShawas Belt, covering an area of 1,896 square kilometers, with various precious and base metals, including copper, zinc, gold, and silver.