Saudi Arabia’s mining sector witnessed several important developments this week, reflecting continued momentum in exploration, investment enablement, and industrial regulation.
The updates included Almasar Minerals securing five new exploration licenses, the Ministry of Industry and Mineral Resources extending the prequalification period for eight mining sites, and the Industrial Council reviewing key measures to protect market competitiveness and support national industry.
Almasar Minerals Secures Five New Exploration Licenses in Saudi Arabia
Almasar Minerals has been granted five Round 9 exploration licenses in Saudi Arabia, covering a total area of 421 km².
The new licenses further strengthen the company’s gold-copper portfolio and support its growth plans ahead of its planned ASX IPO.
This milestone reflects the growing attractiveness of Saudi Arabia’s mining sector, as new exploration opportunities continue to open the door for stronger investment, discovery, and long-term mineral development.
It also highlights the increasing interest of exploration companies in Saudi Arabia’s mineral potential, particularly in gold, copper, and other strategic minerals that support the Kingdom’s broader economic diversification goals.
Saudi Arabia Extends Prequalification Period for Eight Mining Exploration Sites
The Ministry of Industry and Mineral Resources has extended the prequalification period for the bidding process on mining exploration licenses at eight sites until July 31.
The sites cover an area exceeding 1,878 km² and are located across Riyadh, Hail, and Asir.
The tendered sites include:
- Ashhab Al-Dhiab
- Jabal Maniyah
- Al-Khashbi
- Wadi Khiyam
- Jabal Makhit
- Al-Khashimiyah
- Dahlan Samar Al-Har / Jabal Aqab
- Jabal Idsas
These locations target a range of minerals, including gold, silver, copper, zinc, and high-grade iron ore.
The Ministry said the launch of the digital prequalification questionnaire model reflects its commitment to enhancing investment by providing a more streamlined path from prequalification to the issuance of exploration licenses.
The tender has been designed to be fully automated, transparent, and fair. It consists of three main stages: prequalification to assess technical competence and financial solvency, site selection through the electronic bidding platform using a geographic grid system, and a multi-round public auction for sites with high demand.
The sites are part of the outcomes of the national Accelerated Exploration Initiative, implemented in cooperation with the Saudi Geological Survey. Fieldwork included collecting thousands of surface samples, exploration trenches, and borehole samples, in addition to drilling work that helped provide integrated geological and technical data to support the readiness of these sites for mining investment.
The Ministry indicated that the extension came in response to investors’ requests during the fifth Future Minerals Forum. Investors can access the relevant technical data and bidding documents through the Taadeen e-platform.
Industrial Council Reviews Market Protection and National Industry Competitiveness
Minister of Industry and Mineral Resources and Chairman of the Industrial Council, Bandar Alkhorayef, chaired the council’s second meeting in its third term, with the participation of Vice Minister of Industry and Mineral Resources for Industrial Affairs, Eng. Khalil ibn Salamah, and council members from the public and private sectors.
During the meeting, the council discussed several priority issues related to the industrial sector, as part of its role in enhancing the competitiveness of national industry, addressing challenges facing industrial establishments, and improving the regulatory and operational environment.
These efforts support the objectives of the National Industrial Strategy and Saudi Vision 2030.
The council reviewed progress in addressing unfair competition and commercial fraud, including the outcomes of field inspection campaigns carried out in coordination with several government entities. These campaigns targeted products in the electrical connections sector, as well as galvanized and coated steel sheets across various regions of the Kingdom.
The council also followed up on proposed rapid and sustainable measures to curb violations, enhance compliance, and strengthen market protection against non-compliant products.
In addition, it reviewed its performance dashboard, including indicators related to sector challenges, recommendations issued during previous meetings, and the implementation progress of earlier recommendations.
This reflects the council’s continued focus on governance, impact measurement, and accelerating solutions in cooperation with relevant entities.
This week’s developments confirm that Saudi Arabia’s mining sector is moving toward a more mature phase, combining exploration growth with stronger regulatory and industrial support.
As more opportunities open for investors, the Kingdom continues to strengthen mining as a key driver of economic growth under Vision 2030.
