Saudi Arabia has opened its largest mineralized zone to date, covering an area of 4,788 square kilometers, and will issue five new exploration licenses. This accelerates the exploration and development of Saudi Arabia’s mineral resources, valued at 9.3 trillion riyals (approximately $2.4 trillion).
According to a statement from the Ministry of Industry and Mineral Resources, three of the new exploration licenses are for the Jabal Sayid mining area in Medina, covering a total area of 2,892 square kilometers, which is rich in gold, silver, copper, zinc, and lead. The remaining two licenses are allocated to the Al-Hajjar block in the Asir region, covering an area of 1,896 square kilometers, also rich in gold, silver, copper, zinc, and lead.
Jabal Sayad and Al-Hajjar are the largest mineralized zones in Saudi history. The Jabal Sayad zone includes the well-known VMS (volcanogenic massive sulfide) deposits of the Jabal Sayid and Mahd Al-Thahab mines. The Umm ad Damar mine remains undeveloped and has enormous exploration potential.
The Al-Hajjar mine is located within the Wadi Shwas VMS belt of the Asir Terrane and previously produced about 40,000 ounces of gold annually before halting operations, known for its rich deposits of gold, copper, and zinc.
Jarrah bin Muhammad Al-Jarrah, the official spokesman for the Ministry of Industry and Mineral Resources, reiterated the ministry’s commitment to supporting bidders through the Exploration Support Program (EEP), such as subsidies equivalent to a quarter of the costs of drilling, testing, and geoscientific research.
In April this year, the Saudi government announced an invitation for global mining explorers to participate in the newly launched EEP program. The program aims to promote the exploration of Saudi’s strategic and critical minerals, optimize the value of the mining industry, and expand Saudi’s exploration potential by focusing on unknown areas. Additionally, the program aims to train local talent, enhance skills and capabilities in the country’s mineral exploration sector, and advance geological knowledge using innovative data that meets international standards, thereby expanding investment opportunities. Investors interested in participating in the EEP must focus on minerals classified under Category (A) in Saudi Arabia’s Mining Investment Law, such as copper, lithium, nickel, gold, and iron ore; exploration activities should prioritize unexplored areas or critical minerals.
The upcoming issuance of exploration licenses is expected to drive Saudi Arabia’s energy transition and promote sustainable economic growth. According to a report by MineHutte and Mining Journal, Saudi Arabia has shown the strongest performance globally in investment growth in the mining sector over the past five years.
The report also indicates that Saudi Arabia leads in creating a favorable regulatory and infrastructural environment, with its mining permit index rising to second globally. Recently, the Ministry of Industry and Mineral Resources, in cooperation with the Ministry of Investment, launched new incentives to support companies with valid exploration licenses for less than five years, offering support up to 7.5 million Saudi riyals.
These initiatives demonstrate Saudi Arabia’s commitment to developing and utilizing its mineral resources to drive national economic diversification and sustainable development.
[Source – 上海有色网] 沙特最大矿化带将发放五张新勘探许可证 富含金银铜锌等金属 https://news.smm.cn/news/102864569
