Riyadh, March 21, 2025 – The Ministry of Industry and Mineral Resources has awarded exploration licenses to local and international companies for the first mineralized belts in Saudi Arabia, covering 4,788 square kilometers at the Jabal Sayid and Al-Hajjar sites. This initiative aligns with the ministry’s efforts to accelerate mineral exploration and development, with the Kingdom’s mineral resources valued at SAR 9.3 trillion.
In collaboration with the Ministry of Investment, the ministry has launched the second phase of the "Mining Exploration Enablement" program to support early-stage exploration and reduce associated risks. Additionally, under the Mining Investment Law, Saudi Arabia offers incentives such as 100% foreign ownership and financing of up to 75% of capital costs through the Saudi Industrial Development Fund (SIDF).
These initiatives are part of Saudi Vision 2030's strategy to enhance the mining sector as a key economic pillar. During the fourth Future Minerals Forum last January, the ministry announced the offering of 50,000 square kilometers of mineralized belts containing gold, copper, and zinc. The government aims to attract investment and boost exploration activities, with applications for opportunities available through the "Ta'adeen" platform.