Local, International Companies Advance to Saudi Multi-Round Exploration Licensing Auction
The Ministry of Industry and Mineral Resources has announced the launch of its multi-round auction for mineral exploration licenses. The auction covers three identified mineralized belts spanning a total of 24,423 square kilometers.
According to a ministry press release issued on Tuesday, live online bidding runs from September 1 to September 12 and is broadcast on the ministry’s official YouTube channel to ensure transparency.
Official spokesperson Jarrah bin Mohammed Al-Jarrah confirmed that the auction has drawn unprecedented international interest, with 61 companies applying. Following the pre-qualification stage, 31 bids from 23 individual companies and eight local and international consortia advanced to the competition phase.
Mineral Belts, Resources
The auction includes three mineral belts located in Riyadh and Madinah regions:
- Al-Naqrah Belt (Madinah)
- Sukhaybarat (Al-Safra) Belt (Madinah)
- Al-Duwaihi (Nabitah) Belt (Riyadh)
These belts contain a range of base and precious metals, including gold, copper, silver, zinc, and nickel.
Structured Auction Process
Al-Jarrah outlined that the auction follows three structured stages:
- Pre-qualification
- Site selection through the Ta’adeen digital platform
- Public multi-round auction for sites chosen by more than one qualified bidder
1st Phase Underway
The first phase of the live auction has begun for the Al-Duwaihi (Nabitah) Belt. Qualified bidders are competing for licenses through open bidding based on exploration spend commitments. This stage is being streamed live until its conclusion.
Auctions for the Al-Naqrah and Sukhaybarat (Al-Safra) belts will be held in the coming days.
Future Opportunities
The ministry confirmed that an additional exploration licensing tender round will be launched in Q4 2025, offering new mineral-rich sites to both local and international investors.
Interested companies can find more details on the Ta’adeen platform: https://taadeen.sa/en/mining-bids.
Related Topics:
Manga Productions Signs Deal to Launch ‘Sonic’ Game in Middle East
Saudi Museums Commission to Host Manga Hokusai Manga Exhibition on Jan 15
Manga Productions Boosts Japanese Collaboration for Riyadh Season
