Saudi Arabia’s mining sector continued to record notable activity, with new licensing figures announced for February 2026 alongside fresh expansion moves by international mining companies operating in the Kingdom.

According to the latest sector indicators for February 2026, a total of 38 new mining licenses were issued. These included:

• 9 building materials quarry licenses
• 20 exploration licenses
• 2 small mine exploitation licenses
• 7 reconnaissance licenses

This brought the total number of active mining licenses in the sector to 2,963, broken down as follows:

• 1,566 building materials quarry licenses
• 1,036 exploration licenses
• 278 small mine exploitation licenses
• 75 reconnaissance licenses
• 8 surplus mineral ore licenses

Alongside these figures, two international mining companies announced major developments in Saudi Arabia, further reflecting continued activity across the Kingdom’s exploration landscape.

Sierra Nevada Gold Establishes Wholly Owned Saudi Subsidiary

Sierra Nevada Gold Limited announced the establishment of its wholly owned Saudi subsidiary, Arabian American Minerals LLC (AAM), as part of its expansion strategy in the Kingdom.

The move creates an in-country operating platform that will allow the company to directly manage exploration licenses, execute exploration programs, engage with local stakeholders, access local contractors and service providers, and qualify for exploration support programs.

The establishment of AAM is expected to support the advancement of the company’s As Safra Copper–Gold Project, where drilling is planned to begin once exploration licenses are granted.

As Safra Copper–Gold Project Progresses

Sierra Nevada Gold stated that the As Safra Copper–Gold Project is showing encouraging indicators of large-scale mineral potential.

Among the exploration highlights announced by the company:

• Ground magnetic surveys targeting copper-gold skarn systems are underway
• A mineralized corridor extending for more than 5 km has been identified
• Historical drilling results included:
  • 24.55m at 1.69% copper
  • 5.0m at 4.07% copper
• Rock-chip samples returned up to:
  • 244 g/t gold
  • 11% copper

The company also outlined the next expected milestones for the project, including:

• Final grant of exploration licenses within 2–4 weeks
• Completion of geophysical and geochemical programs within 6–8 weeks
• Launch of Phase 1 drilling, consisting of around 5,000 metres of RC and diamond drilling

Sun Peak Metals Expands Saudi Exploration Portfolio

Sun Peak Metals Corp. announced that it had acquired seven new exploration licenses in Saudi Arabia through the Round 9 licensing auction led by the Ministry of Industry and Mineral Resources.

The newly awarded licenses cover a total area of 632 km², increasing the company’s total land position in Saudi Arabia to 1,072 km² across 13 exploration licenses.

The licenses were finalized on March 26, 2026, and are located within the Arabian-Nubian Shield, a major geological belt known for gold and base metals potential.

New License Areas Near Key Mining Assets

Sun Peak stated that the new exploration areas are located near several important mining assets operated by Ma’aden, including:

• Bulghah Gold Mine
• Sukhaybarat Gold Mine
• Nuqrah VMS Deposit

The company said the awarded areas show several geological indicators associated with exploration potential, including:

• Historical mineral occurrences
• VMS gossans along established trends
• Extensive hydrothermal alteration zones

Exploration Activities Underway

Sun Peak confirmed that early-stage exploration work has already started across the newly acquired licenses.

The initial program includes:

• Detailed geological mapping
• Rock and soil geochemical sampling
• Trenching programs
• Ground and airborne geophysical surveys

The company said these activities are intended to define priority targets for future drilling and resource development.

With this latest award, Sun Peak now holds 13 exploration licenses in Saudi Arabia, with an additional approximately 200 km² currently under application.

Weekly Overview

This week’s developments highlighted continued licensing activity in Saudi Arabia’s mining sector, alongside ongoing expansion by international exploration companies.

The latest February 2026 figures showed growth in newly issued licenses, while company announcements from Sierra Nevada Gold and Sun Peak Metals pointed to continued momentum in exploration activity across the Kingdom.