Saudi Arabia’s Industry and Mineral Resources Ministry awarded exploration licenses for sites in the Jabal Sayid and Al-Hajar mineralized belts, SPA reported on Tuesday. The awardees are expected to spend some SAR 366 mn over the next three years, while funneling SAR 22 mn into local communities.

The details: The tender saw 14 bids from several pre-qualified local and international companies, and the sites — covering an area of some 4.8k sqm — are expected to carry reserves rich in base and precious metals, including copper, silver, lead, and gold.

The awarded companies include:

  • A consortium of China’s Norin Mining and Aljan & Bros landed a license to explore the southern Al Hajar site, with a SAR 209 mn investment ticket, while committing SAR 11.2 mn for local development;
  • A consortium of ARTAR, Gold & Minerals Ltd., and Jacaranda pledged SAR 62 mn for the exploration of the northern Al Hajar site, along with SAR 4.2 mn for local development;
  • India’s Vedanta landed a license for the 2.9 sq km Jabal Sayid 1, committing SAR 33 mn for exploration, plus SAR 3 mn for developing the local community;
  • A consortium of Aljan and China’s Zijin Mining won the exploration rights for Jabal Sayid 2, with a SAR 62 mn investment ticket, in addition for SAR 4 mn for local infrastructure. The license marks Zijin Mining’s first foray into the Saudi mining industry..

ICYMI- The deadline for bidding for mining licenses for these sites ended on 21 January 2025, with the now-approved miners passing prequalification in November 2024.

KSA has major mining ambitions: The Saudi government announced an incentives packageworth SAR 685 mn to boost mineral exploration in March 2024 and has plans to establish mining complexes in Madinah — where Jabal Sayid is based — and the Eastern Province. KSA aims to attract local and foreign mining investors amid the Kingdom’s broad push to become a global hub for metals critical for energy transition, edging closer to its goal to become an EV manufacturing hub with localized supply chains.

IN OTHER REGIONAL UPDATES-

Jordan selects mining sites for investments: Jordan's Energy and Mineral Resources Ministry has identified four high-potential zones for mineral exploration as part of its 2025 mineral investment portfolio, Petra reported on Wednesday. The zones — Wadi Mubarak, Wadi Al Tank, Wadi Lebanon, and Wadi Omran — were selected based on comprehensive geochemical mapping conducted in collaboration with France's Bureau de Recherches Géologiques et Minières. The targeted minerals include base metals like zinc, lead, and copper, as well as critical and rare earth elements such as niobium, tin, and yttrium.

The country is also eyeing uranium production: The Jordan Uranium Mining Company and Harmony Investment Company (HINCO) have signed an MoU to advance the local manufacturing of chemicals for uranium extraction and to optimize the use of associated elements and raw materials, Petra reported on Tuesday. The agreement will enhance cooperation in mineral exploration, resource management, and engineering consulting.

REMEMBER- Jordan’s Energy and Mineral Resources Ministry signed an MoC with HINCO last week to advance geological surveying and minerals exploration across the country using drone technology. Jordan also announced plans earlier this month to open up southern Aqaba’s mining sites to private investors.

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