RIYADH: Saudi Arabia’s Ministry of Trade and Mineral Sources has moved one step nearer to giving out mining exploration licenses for 2 of its websites because it shortlisted 13 bidders amid a drive to develop the Kingdom’s mining sector.
The brand new alternative will see the shortlisted bidders compete for permission to dig for useful metals in two key exploration websites in Riyadh and Asir.
The Ar Ridaniyah web site, situated within the Saudi capital, comprises zinc and silver deposits, and spans over an space of 75 sq. km.
Whereas the Muhaddad web site in Asir has copper, zinc, lead, and gold deposits and covers 139 sq. km.
The announcement comes because the ministry goals to help traders, improve funding within the mining sector and encourage nationwide industries.
The shortlisted bidders embrace African Rainbow Minerals, Alara Saudi Ventures, AMAK, Barrick Gold Company, and ERG Arabia.
The different bidders embrace Moxico Sources, Ma’aden, Yilmaden Holding, Vedanta, and Artar.
As well as, Panoro Minerals, Royal Highway and MSB Holding, and Ajlan and Bros and Norin are shortlisted as bidders.
A ministry assertion said that the submission deadline for bidders is Might 2023, and that outcomes shall be introduced the next month.
As for the winners’ exploration licenses, they’re to be issued inside three months after the spherical involves an finish.
In February of this yr, the ministry introduced the launch of the prequalification section for 5 new mining alternatives in Saudi Arabia.
These alternatives have been showcased on the Future Minerals Discussion board 2023 which befell in Riyadh in the beginning of the yr.
In 2022, Saudi Arabia awarded two main exploration licenses – Khnaiguiyah in September and Umm Advert Damar in October.
The ministry plans to complete all 5 licensing rounds by the third quarter of 2023, in response to its announcement in February.
With Muhaddad and Ar Radiniyah checked off, Umm Hadid, Bir Umq, and Jabal Sahabiyah websites are but to be awarded as they’re set for the third quarter of 2023.
Saudi Arabia’s mining sector is witnessing unprecedented progress as the federal government is pushing to develop the trade with elevated funding and upgraded legal guidelines to draw extra personal gamers.
This noticed the variety of mining complexes within the Kingdom rising to 377 as of the top of 2022, with an estimated space of 44,365 sq. km, in response to the newest authorities information.
Makkah was house to nearly all of 76 mining complexes final yr.
That is adopted by Riyadh and Madinah with 60 and 53 complexes respectively, whereas Asir’s complexes totaled 34, revealed the ministry.
Saudi Arabia possesses greater than 20 several types of minerals, together with gravel, gold, iron, copper, granite and marble, said the Ministry of Trade and Mineral Sources in a tweet.
The Kingdom has 35 areas with particular geological formations, referred to as mineral belts, that include considerable mineral deposits.
Consistent with Saudi Imaginative and prescient 2030, the Kingdom goals to remodel the mining sector into the third pillar of the nationwide trade and work on exploiting the mineral wealth within the Kingdom valued at round SR5 trillion ($1.3 trillion).