Saudi Arabia has launched a new bidding round offering three major mineral exploration licences spanning a vast 13,000 square kilometre area, the Ministry of Industry and Mineral Resources announced on Monday. The move marks another significant step in the Kingdom’s strategy to unlock its mineral wealth—estimated at 9.4 trillion riyals ($2.50 trillion)—as part of its broader Vision 2030 economic diversification drive.
The newly offered licences cover recently defined geological belts across the regions of Madinah, Makkah, Riyadh, Qassim, and Hail. These zones are considered highly prospective for a range of critical and precious minerals, including gold, silver, copper, zinc, and lead.
By opening these strategic areas to global and local investors, Saudi Arabia aims to accelerate exploration activities, attract international mining expertise, and position itself as a regional hub for mining and minerals development. The initiative is part of an expanding pipeline of mining opportunities as the Kingdom intensifies efforts to build a robust, sustainable, and globally competitive mining sector.