Saudi Arabia shortlists bidders for 13,000 sq km of mining belts

Saudi Arabia has shortlisted 24 local and international bidders for the latest round of its mineral exploration belts, as it pushes to unlock an estimated $2.5 trillion of mineral wealth.

This qualification of companies and consortia starts the bidding phase following the completion of technical and financial evaluations, the state-run Saudi Press Agency reported, quoting a statement from the Industry and Mineral Resources Ministry.

The mineralised belts offered in the 10th round cover 13,000 square kilometres across five regions: Medina, Mecca, Riyadh, Qassim and Hail.

New exploration sites in the areas offered in the ninth round are also part of the new round, which includes Ad Duwayhi mine, producing 180,000 ounces of gold annually; Sukhaybarat/Al-Safra belt, a prospective zone for gold, copper, silver, zinc and nickel; and Al-Nuqrah belt, known for its gold deposits, copper and zinc.

Of the 24 qualified bidders, 17 were previously pre-qualified under the ninth round, while seven additional companies and consortia completed the round 10 pre-qualification process.

Among the seven pre-qualified bidders is Saudi-listed Saudi Arabian Mining Company (Maaden), the statement said.

The next phase of round 10 will see qualified bidders select exploration sites. However, no date was given for when the winners would be announced.

In February, Jarrah Aljarrah, a spokesman for the Industry and Mineral Resources Ministry, said that the number of mining and small-mine exploitation licences more than tripled year on year to 61 in 2025.

Total investments in the new licensed projects exceeded SAR44 billion ($11.7 billion), covering the extraction of mineral resources, including gold and phosphate.

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