CountriesGCCMining SummitSaudi Arabia

Saudi Arabia awards exploration licenses for 6 mining sites

Local companies awarded sites in Riyadh, Makkah, and Asir provinces

Majda Muhsen, Zawya Projects

November 6, 2024

Saudi Arabia’s Ministry of Industry and Mineral Resources has awarded exploration licenses for six mining sites in Riyadh, Makkah, and Asir to 11 local companies, within the framework of the accelerated exploration programme for untapped mineral resources in the Kingdom,

The awarded sites span a total area of 850 square kilometres, according to Ministry note.

Details are as follows:

  • Asir Region:

Wadi Ad Dawsh: Gold and Minerals Ltd Company. The site holds prospects for gold, silver and copper ore
Wadi Al Junah: Consortium of The Metal Bank Ltd and Mining Holding Company. The site holds copper, zinc, silver and gold deposits
Hazm Shubat: Consortium of RWAKEd and Masharf will prospect for gold.

  • Riyadh Region:

Umm Qusur: Consortium of ANS Exploration and Odyssey Metals Ltd. The site holds prospects for gold, silver, lead and zinc.
Shaib Marqan: Consortium of Auking and Barg Alsaman Mining Company.  The site has copper, silver and gold deposits.

  • Makkah Region:

Huwaymidan: Consortium of Midad Almona and Tinka Resources will prospect for gold.

The winning companies have pledged to spend 75 million Saudi riyals on exploration work, in addition to SAR 5 million on developing communities adjacent to mining sites.

The 7-year EEP programme is designed to encourage and increase investment in exploration for Class A minerals over an area of 4,000 square kilometres  in accelerated mode. Other highlights include 440,000 metres of drilling and 57,000 geochemistry samples.

(Writing by Majda Muhsen; Editing by Anoop Menon)

(anoop.menon@lseg.com)

Subscribe to our Projects’ PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.

Source
https://www.zawya.com/

Minerals Meridian

Minerals Meridian is a premier online portal dedicated to exploring and uncovering the Earth's hidden wealth in the GCC and beyond. Our platform provides valuable insights and information on resource exploration, mining, and sustainable practices. With a focus on responsible resource management and ethical operations, we strive to empower individuals and businesses with knowledge to make informed decisions in the industry. Through cutting-edge technology and a commitment to environmental stewardship, Minerals Meridian aims to be the go-to resource for those seeking to understand, engage, and contribute to the world of resource exploration and mining. Join us as we navigate the depths and unlock the potential of our planet's resources.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button