Saudi Arabia Grants Exploration Licenses
The Ministry of Industry and Mineral Resources in Saudi Arabia has issued exploration licenses to several local and international mining companies after a recent bidding process.
License Winners
- Northern Al-Hijar Site: A consortium consisting of ARTAR, Gold and Minerals Ltd. (G&M), and Jacaranda — the latter fully owned by Australia’s Hancock Prospecting — secured the exploration license.
- Jabal Sayid Belt: India’s Vedanta Ltd., one of the world’s top zinc producers, received the first exploration license.
- Jabal Sayid Belt: The second exploration license was awarded to a consortium of Ajlan & Brothers and China’s Zijin Mining, which is among the five largest mining companies globally.
- Southern Al-Hijar Site: Norin Ajlan & Brothers Mining Co obtained the exploration license.
Saudi Arabia’s Ministry of Industry and Mineral Resources said, “The licenses mark an important step in unlocking the kingdom’s mineral potential.”
These new exploration licenses support Saudi Arabia’s push to develop its mining sector and attract significant investment from key global players.