24 Firms Qualified for Saudi Mineral Licenses
The Saudi Ministry of Industry and Mineral Resources announced that 24 companies and alliances have qualified to compete for exploration licenses across three mineral belts covering an area of 13,000 square kilometers in the regions of Medina, Mecca, and Riyadh. The goal is to enhance mineral exploration and capitalize on mineral reserves estimated at approximately 9.4 trillion riyals. The competition includes new sites and belts rich in gold, copper, silver, and zinc, with 17 previous competitors and 7 new ones participating in this phase. Transparent, multi-stage competitive processes are adopted to ensure the effective utilization of Saudi Arabia’s mineral resources.
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