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685238
Sun, 07/21/2024 - 15:18
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Saudi Arabia Unveils Record-Sized Mineralized Belts, Invites Global Investors to Exploration Licensing Rounds
Riyadh, July 21, 2024, SPA -- The Ministry of Industry and Mineral Resources has announced in a press release the launch of its most extensive mineralized belts to date, covering an expansive 4,788 km² that includes five exploration licenses. The ministry is inviting major mining and exploration companies to participate in the ongoing Exploration Licensing Rounds aimed at unlocking the belts’ vast mineral wealth.
According to the ministry’s official spokesperson, Jarrah bin Mohammed Al-Jarrah, the initiative highlights Saudi Arabia’s commitment to fostering a robust mining and minerals sector and creating opportunities for investors to explore the Kingdom’s wealth. He further noted that five exploration licenses are available to local and international mining companies.
These licenses are integral to the ministry’s strategy of promoting increased exploration investment and aligning with Vision 2030 objectives—aimed at positioning mining as the third pillar of its national industry.
The ministry is calling on major local and international mining and exploration companies to participate in the Exploration Licensing of the following mineralized belts:
Three exploration licenses are available at the Jabal Sayad mineralized belt, which covers 2,892 km². The belt includes copper, zinc, lead, gold, and silver.
Two exploration licenses at Al-Hajjar site in the Wadi Shwas VMS Belt covering 1,896 km². The site contains deposits of gold, silver, copper, and zinc.
According to Al-Jarrah, the Jabal Sayad and Al-Hajjar are the largest mineralized belt sites the Kingdom has ever launched.
The Jabal Sayid belt, located northeast of Jeddah and east of Madinah, contains the Jabal Sayid and Mahd AlThahab Mines.
Al-Hajjar site, situated within the Wadi Shwas VMS Belt in Saudi Arabia’s Asir Terrane, includes two exploration licenses. This region, known for its rich gold, copper, and zinc deposits, previously hosted a developed mine (Alhajjar mine), which produced approximately 40,000 ounces of gold annually before becoming inactive.
The spokesperson stated that the bidding process for the exploration licenses would be conducted with utmost transparency and through several stages, starting with the pre-qualification stage from July to October 2024. This stage will be followed by the invitation for qualified bidders to submit technical expertise proposals and social and environmental impact management plans in December 2024. This will culminate in the announcement of the winner and the grant of the exploration license in January 2025. This comprehensive approach is necessary due to the massive size of the exploration sites that are up for bidding.
Al-Jarrah reaffirmed the ministry’s commitment to providing all geological data related to targeted belts on the electronic ‘Ta’adeen’ platform. This initiative aims to ensure equal opportunities among all bidders and is expected to boost spending on exploration in the Kingdom. It will also bolster the national geological database with technical information, create new job opportunities, and foster sustainable economic growth. This commitment symbolizes Saudi Arabia’s remarkable resolve to develop the mining sector in alignment with international standards, emphasizing environmental sustainability and social responsibility.
Saudi Arabia has established itself as a go-to mining jurisdiction, earning notable recognition in the Mining Journal World Risk Report featuring MineHutte. The Kingdom was recognized for its seamless license permitting process and recently revamped, comprehensive, and attractive regulatory framework—making it a choice destination for investors looking to invest in a safe, stable, and business-friendly environment.
Interested investors are encouraged to visit the mining platform using the following link: https://taadeen.sa/en/mining-bids to learn more about the competition procedures and obtain necessary technical and geological reports for these sites.
-- SPA
According to the ministry’s official spokesperson, Jarrah bin Mohammed Al-Jarrah, the initiative highlights Saudi Arabia’s commitment to fostering a robust mining and minerals sector and creating opportunities for investors to explore the Kingdom’s wealth. He further noted that five exploration licenses are available to local and international mining companies.
These licenses are integral to the ministry’s strategy of promoting increased exploration investment and aligning with Vision 2030 objectives—aimed at positioning mining as the third pillar of its national industry.
The ministry is calling on major local and international mining and exploration companies to participate in the Exploration Licensing of the following mineralized belts:
Three exploration licenses are available at the Jabal Sayad mineralized belt, which covers 2,892 km². The belt includes copper, zinc, lead, gold, and silver.
Two exploration licenses at Al-Hajjar site in the Wadi Shwas VMS Belt covering 1,896 km². The site contains deposits of gold, silver, copper, and zinc.
According to Al-Jarrah, the Jabal Sayad and Al-Hajjar are the largest mineralized belt sites the Kingdom has ever launched.
The Jabal Sayid belt, located northeast of Jeddah and east of Madinah, contains the Jabal Sayid and Mahd AlThahab Mines.
Al-Hajjar site, situated within the Wadi Shwas VMS Belt in Saudi Arabia’s Asir Terrane, includes two exploration licenses. This region, known for its rich gold, copper, and zinc deposits, previously hosted a developed mine (Alhajjar mine), which produced approximately 40,000 ounces of gold annually before becoming inactive.
The spokesperson stated that the bidding process for the exploration licenses would be conducted with utmost transparency and through several stages, starting with the pre-qualification stage from July to October 2024. This stage will be followed by the invitation for qualified bidders to submit technical expertise proposals and social and environmental impact management plans in December 2024. This will culminate in the announcement of the winner and the grant of the exploration license in January 2025. This comprehensive approach is necessary due to the massive size of the exploration sites that are up for bidding.
Al-Jarrah reaffirmed the ministry’s commitment to providing all geological data related to targeted belts on the electronic ‘Ta’adeen’ platform. This initiative aims to ensure equal opportunities among all bidders and is expected to boost spending on exploration in the Kingdom. It will also bolster the national geological database with technical information, create new job opportunities, and foster sustainable economic growth. This commitment symbolizes Saudi Arabia’s remarkable resolve to develop the mining sector in alignment with international standards, emphasizing environmental sustainability and social responsibility.
Saudi Arabia has established itself as a go-to mining jurisdiction, earning notable recognition in the Mining Journal World Risk Report featuring MineHutte. The Kingdom was recognized for its seamless license permitting process and recently revamped, comprehensive, and attractive regulatory framework—making it a choice destination for investors looking to invest in a safe, stable, and business-friendly environment.
Interested investors are encouraged to visit the mining platform using the following link: https://taadeen.sa/en/mining-bids to learn more about the competition procedures and obtain necessary technical and geological reports for these sites.
-- SPA
