Saudi Arabia's Ministry of Industry and Mineral Resources invites global mining companies to participate in its 7th licensing round for exploration and development.
 |
| The seven mining sites included in Saudi Arabia's 7th licensing round and the types of minerals they offer. Symbolic Image |
Riyadh, Saudi Arabia – October 24, 2024:
The Saudi Arabian Ministry of Industry and Mineral Resources (MIM) is inviting exploration and mining companies from around the world to participate in its 7th round of licensing. This exciting opportunity offers access to seven promising mining sites across the country, totaling over 1,070 square kilometers.
The bidding process is now open, starting in mid-October, with successful applicants set to be announced in December. The ministry aims to attract international investment and expertise to drive the development of Saudi Arabia's mining sector, which is rich in valuable minerals such as copper, gold, zinc, silver, and lead.
The seven sites up for auction include Wadi al Lith, Jabal Baudan, Jabal Sabha, Jabal al Ad Dimah, Jabal al Klah North & South, and Umm Hijlan (Mamilah). Each site offers unique opportunities for exploration and development, with varying mineral deposits and geological characteristics.
Interested investors can access the Information Memorandum and data room for the sites on the Ta'adeen website. The website provides detailed information about each site, including geological data, mineral potential, and licensing requirements.
Saudi Arabia is actively attracting investment in its mining sector by offering a range of competitive incentives. These include 75% co-funding for capital expenditure, a five-year exemption on royalty fees, discounts for local processing, a competitive corporate tax rate, and 100% foreign direct ownership.
This 7th licensing round signifies Saudi Arabia's commitment to unlocking its vast mineral resources and diversifying its economy. The country aims to become a global mining leader, attracting international expertise and technology to drive sustainable development and create jobs.
By participating in this licensing round, mining companies can benefit from Saudi Arabia's strategic location, world-class infrastructure, and supportive business environment. The country's abundant mineral resources offer significant potential for profitable investments and long-term growth.