Saudi Arabia has opened bidding for a major new round of mineral exploration licences spanning more than 13,000 square kilometres across regions including Madinah, Makkah, Riyadh, Qassim and Hail. This latest initiative reflects the Kingdom’s increasing momentum in expanding its mining sector under Vision 2030 and accelerating its ambition to transform mining into the “third pillar” of the national economy alongside oil and petrochemicals. The areas included in this licensing round contain a wide spectrum of prospective deposits, ranging from precious metals such as gold and silver to high-value base and critical minerals including copper, zinc, nickel and lead.
The Geological Survey of Saudi Arabia estimates the Kingdom’s mineral wealth at more than SAR 9.4 trillion (approximately USD 2.5 trillion), underscoring the significant untapped potential across its geological landscape. By opening extensive new territories for exploration, Saudi Arabia aims to attract global mining companies, advanced geological services providers, and technology-driven exploration firms capable of supporting the full lifecycle of mine development—from early discovery to commercial production. The initiative is particularly timely given the rising global demand for minerals essential to electric vehicles, renewable energy technologies, advanced battery systems and high-tech manufacturing industries.
Strengthening the Kingdom’s Role in Global Mineral Supply Chains
The Ministry of Industry and Mineral Resources has structured this bidding round to be internationally competitive, offering enhanced regulatory clarity, improved licensing processes and tailored operational incentives that reduce barriers for early-stage explorers. Companies will gain access to updated geological data, digital resource mapping, and streamlined permitting pathways designed to increase transparency and lower entry risk. These reforms reinforce the Kingdom’s objective of building a modern mining ecosystem aligned with global standards and capable of supporting large-scale exploration investment.
As industries worldwide seek secure, long-term sources of critical minerals, Saudi Arabia is positioning itself as a reliable and strategically located supplier within global supply chains. This licensing round is expected to stimulate new investments, support local service capabilities, strengthen midstream processing opportunities and contribute to the growth of downstream industries connected to energy transition technologies. It also supports broader Vision 2030 goals to diversify non-oil GDP, promote industrial resilience, create skilled employment and advance the Kingdom’s competitiveness across emerging economic sectors.
By unlocking new exploration zones and providing a more investor-friendly regulatory environment, Saudi Arabia is signalling its growing commitment to becoming a leading regional and international hub for mining and minerals development. Further announcements related to project evaluations, awarded licences and investment partnerships are expected in the coming phase as bidding progresses.
Source: Ministry of Industry and Mineral Resources
