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Saudi Arabia Unveils Six Qualified Companies for Mining Exploration Program

Saudi Arabia’s Ministry of Investment and Ministry of Industry and Mineral Resources unveiled the six local and international mining companies that have successfully qualified for the first wave of the Exploration Enablement Program (EEP).

Royal Road, Ajlan and Bros Holding, and EV Metals Group were selected for this first phase of qualification, as well as Ma’aden, Gold and Minerals Co., and Al-Masane Al-Kobra Mining Co., also known as AMAK.

The program basically seeks to facilitate high-quality investments in the mining sector, foster its competitiveness, and accelerate exploration activities, according to the Saudi Press Agency.

Commenting on the announcement, Jarrah Al-Jarrah, spokesperson for the Ministry of Industry and Mineral Resources, emphasized that both ministries have selected six companies to leverage from the program. He noted that 18 companies have submitted 82 applications, from which 49 applications by 6 companies have been accepted.

Crucially, these companies have introduced several projects that are compatible with the program’s objectives and acceptance standards.

Designed primarily to empower mining companies and boost their exploration capacities, the EEP covers a total area of ​​4,000 square kilometers, with total drilling costs of 179 million Saudi riyals.

Interestingly, the initiative boasts various drilling types such as diamond drilling, rotary drilling, and other types.

Furthermore, the program dedicates 12 million Saudi riyals for geophysical and geochemical surveys.

So far, it has empowered 54 employees, including 25 experts and 29 Saudi talents.

Launched during the Future Minerals Forum 2024, the program also aspires to accelerate exploration processes, enhance the reliability of technical and geological data, as well as mitigate risks for exploration companies during the early stages of their operations.

 

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