Industry Ministry plans to offer 50,000 km² of mineralized belts in 2025: Official

Ministry of Industry and Mineral Resources is planning to offer 50,000 square kilometers (km²) of mineralized belt sites during 2025, including gold and copper reserves, said Deputy Minister for Mineral Resources Management Abdulrahman AlBelushi.

In an interview with Argaam on the sidelines of the Future Minerals Forum, the official added that this area represents five times what was previously offered.

Over the past two and a half years, the ministry offered about 10,000 km² of land area. It has attracted top global mining companies, including large, medium and small-cap players, AlBelushi stated.

He pointed to the tremendous interest from investors, as more than 80 new companies have been established thanks to the opportunities being offered locally, not to mention partnerships between Saudi and foreign entities.

In addition, the ministry has allocated SAR 120 million to support companies applying to obtain exploration licenses for precious and base minerals.

The Exploration Enablement Program, which was earlier launched by the ministry, entails investments worth SAR 685 million that extend until 2030, according to the official.

He also said that minerals exploration missions in the Kingdom began about 70 years ago, under the supervision of Founder King Abdulaziz. These missions identified areas rich in gold, copper, and other minerals.