- Ministries of Industry and Investment announce a new exploration program aimed at boosting the mining sector.
As part of the Kingdom’s commitment for the mining sector to be the third pillar of the Saudi industrial economy in Vision 2030, the Ministry of Industry and Mineral Resources (MIMR) and the Ministry of Investment (MISA) are inviting mining explorers worldwide to participate in the ongoing Exploration Enablement Program (EEP), an initiative to strengthen the Saudi mining sector, the ministries said in a news release.
According to the statement, EEP was recently launched to stimulate exploration activities in strategic and critical minerals; expand the understanding of the Kingdom’s exploration potential by focusing on underexplored areas and minerals; develop local talent in the mineral exploration and mining sector, fostering skills enhancement and creating opportunities for the local workforce; and enhance geological knowledge through the use of innovative data collection techniques that adhere to international best practices. The program seeks to accelerate exploration efforts and advance key objectives within Saudi Arabia’s mineral and mining industry.
EEP will broaden insights into the Kingdom’s exploration activities by enabling the exploration in untapped regions. Eligibility criteria include: investors interested in participating in the EEP must focus on minerals categorized under Class ‘A’ of the Mining Investment Law, such as Copper (Cu), Lithium (Li), Nickel (Ni), Gold (Au), and Iron ore (Fe); and exploration activities should target underexplored areas or critical minerals to ensure a comprehensive exploration approach.
Eligible applicants must also possess a valid exploration license under five years of tenure, requisite expertise, and a proven track record in greenfield exploration. Under the program, investors are required to submit their work program applications by May 31. Successful applicants will be announced by July 31.
The program encourages investors to utilize local service providers for essential services and contracts, contributing to the growth of local businesses and strengthening the domestic supply chain. Interested investors are urged to download the application form and program guidelines from the official Ta’adeen website (https://taadeen.sa/exploration-enablement-program).
The application form offers comprehensive instructions on program requirements, while the guidelines provide a roadmap for a successful application process.
The MIMR invites investors from around the world to participate in the EEP, contributing to the growth and success of Saudi Arabia’s mineral sector. By joining the program, investors will gain valuable geological knowledge, support local talent development, and play a crucial role in the sustainable growth of the industry.
