Deadline extended for second round applications for Mining Exploration Empowerment Program until May 1, 2025.
The Ministry of Industry and Mineral Resources, in collaboration with the Ministry of Investment, has extended the deadline for applications for the Mining Exploration Empowerment Program in its second round until May 1, 2025, instead of the previously set date of April 1. This extension aims to allow more local and international mining companies to participate in seeking support for their exploration activities, in an effort to accelerate the pace of mineral exploration in the Kingdom of Saudi Arabia.
The Ministry explained that the evaluation phase of the applications will take place from May 1 to May 31, 2025, while the approval phase, signing of the framework agreement, and announcement of the winners will occur from June 1 to July 31, 2025.
The Mining Exploration Empowerment Program aims to enhance exploration activities, maximize the value added from the mining sector in the national economy, expand exploration scope in the kingdom by focusing on unexplored areas, develop local talents, build skills and capabilities in mineral exploration, and enhance geological knowledge by providing modern and innovative data with international standards to support investors in the mining sector.
The Ministry has set several criteria for participation in the program, including focusing on exploring strategic minerals classified under category “A” in the mining investment system, such as copper, lithium, nickel, gold, and iron. Priority will be given to exploring previously unexplored areas, as well as companies holding valid exploration licenses and a distinguished record in exploring new mining sites. Moreover, investors are encouraged to utilize local service providers, which will contribute to the growth of local companies and strengthen local supply chains.
The Ministry of Industry and Mineral Resources had launched the second phase of the Mining Exploration Empowerment Program in collaboration with the Ministry of Investment in January of last year. The program aims to support mining exploration activities and reduce risks for exploration companies during their initial stages. During the fourth edition of the International Mining Conference held in January, the ministry announced the offering of 50,000 square kilometers of mineral-rich belts containing gold, copper, and zinc as part of its efforts to enhance exploration and provide an attractive investment environment for local and international mining companies.
Interested parties can access the requirements and guidance manual for applying to the program through the following link: “https://taadeen.sa/exploration-enablement-program” and submit applications via email at “Explorationincentive@mim.gov.sa”.
