Riyadh: The Ministry of Industry and Mineral Resources announced in a press release today the successful bidders for its seventh round of tender licensing, highlighting the Kingdom's commitment to creating a competitive and transparent investment environment in line with the Vision 2030 goals.
According to Saudi Press Agency, the ministry received 24 proposals from 11 local and international companies bidding for six sites covering 890 square kilometers in the Riyadh and Makkah regions.
The successful bidders are Al Masane Al Kobra Mining Company, awarded licenses for three sites: Jabal Al Klah North, Jabal Al Klah South, and Jabal Ad Dimah; Abdulrahman Saad Al Rashid and Brothers Co. and Gold and Minerals Company Limited Alliance, awarded license for the Umm Hijlan (Mamilah) site; Skylark and Al Kalig Al Arabi for Mining secured the exploration license for the Wadi Al Lith site; and Power Nickel Company, awarded an exploration license for the Jabal Baudan site.
The release stated that the successful bidders were selected through a transparent, merit-based tender process, mainly focused on their proposed work programs, exploration activities, social plans, and innovation.
The successful bidders have committed SAR126 million for exploration and SAR9 million to implement their social programs and support local communities.
The Ministry of Industry and Mineral Resources, in collaboration with the Ministry of Investment, has introduced a series of incentives to stimulate mining exploration in Saudi Arabia, including support for companies with valid exploration licenses under five years, offering a maximum subsidy of SAR7.5 million.
Furthermore, the Mining Investment Law offers substantial benefits, such as the establishment of 100% foreign-owned mining companies and access to financing of up to 75% of capital expenditure through the Saudi Industrial Development Fund.
The ministry plans to launch 2025 licensing rounds covering a total area of 50,000 square kilometers for local and international investors. Details will be announced during the Future Minerals Forum 2025, according to the release.