11 Local and International Companies Win Exploration Licenses Across Six Mining Sites in Riyadh, Makkah, and Aseer

Saudi Ministry of Industry and Mineral Resources has awarded exploration licenses to 11 local and international mining companies across six mining sites in Riyadh, Makkah, and Aseer. This marks a significant development in the Kingdom’s mining sector, aligning with the Accelerated Exploration Program aimed at utilizing untapped mineral resources.
According to the ministry, the recent licensing round concluded with the participation of a national company and five consortia comprising ten local and international companies. Among the winners, the consortium of ANS Exploration Company and Odyssey Metals Limited was granted an exploration license for the Umm Qusur site in Riyadh, which hosts deposits of gold, silver, lead, and zinc. Similarly, Gold and Minerals Ltd secured the Wadi Ad Dawsh site in Aseer, containing gold, silver, and copper. Another consortium, Auking and Barg Alsaman Mining Company, received a license for the Shaib Marqan site in Riyadh, noted for copper, silver, and gold.
Further licenses were awarded to the Metal Bank Limited and Mining Holding Company consortium for the Wadi Al Junah site in Aseer, which includes deposits of copper, zinc, silver, and gold. The RWAKED and Masharf consortium won the Hazm Shubat site in Aseer, known for its gold reserves, while Midad Almona and Tinka Resources consortium obtained rights for the Huwaymidan site in Makkah, which also contains gold.
The ministry revealed that the tender attracted 44 bids from 22 companies, including ten first-time participants. These bids were rigorously evaluated based on technical expertise, proposed work programs, and social and environmental commitments. Covering a total area of 850 square kilometers, the awarded sites reflect the Kingdom’s ongoing commitment to fostering a conducive environment for investment in mining, offering new opportunities for both domestic and foreign stakeholders.
The winning companies have pledged to invest over SAR 75 million in exploration activities, along with an additional SAR 5 million dedicated to community development in areas near the mining sites. These commitments aim to generate employment for local residents and support the socioeconomic development of less-privileged regions.
This licensing round also saw four companies obtaining exploration licenses for the first time, underscoring Saudi Arabia’s attractiveness as a prime investment destination in the mining sector. The new licenses reaffirm investor confidence in the Kingdom’s transparent regulatory framework, aligned with Vision 2030’s objective of positioning mining as the third pillar of the national economy, boosting industries reliant on mineral resources.
In a related announcement, the ministry has invited exploration and mining companies to apply for licenses at seven additional sites in the Makkah and Riyadh regions, which cover over 1,070 square kilometers and contain various precious and base metals. Interested parties have until the end of November to submit their bids through the ministry’s Ta’deen platform.