In a strategic move aimed at providing additional time for local and international companies to complete their qualification requirements, the Ministry of Industry and Mineral Resources of Saudi Arabia has extended the deadline for the submission of preliminary qualification requests (PQQ) for mining licenses to June 16, 2025. This extension comes in response to the increasing interest and participation from investors in the Kingdom’s burgeoning mining sector.
Recently, the Ministry launched three new mineral belts available for competitive bidding, covering an expansive area of approximately 24,423 square kilometers in the regions of Riyadh and Medina. This initiative is part of a broader plan that aims to open up over 50,000 square kilometers of mining sites by 2025. The specific sites being offered for exploration include the Al-Nuqra belt, the Al-Sukhaybirah (Yellow) belt in Medina, and the Al-Dawiyah (Nabita) belt in Riyadh. These areas are rich in essential and precious minerals such as gold, copper, silver, zinc, and nickel.
The Ministry has announced that the guidelines for the electronic bidding process will be released on May 30, 2025, with the official commencement of the competition scheduled for July 1, 2025. From this date, qualified companies will be able to start competing for the available sites through a dedicated electronic platform. This process will follow rigorous criteria designed to ensure maximum transparency and fairness, thereby leveling the playing field for all investors.
The competition for mining licenses for the designated mineral belts is set to conclude on August 15, 2025, after which the Ministry will announce the successful bidders on August 30, 2025, following the finalization of results. The Ministry has emphasized that these mining competitions are structured according to the highest standards of transparency and governance, facilitated through a fully automated system that guarantees equal opportunities for all participants.
The competitive bidding process has been divided into three key phases: the preliminary qualification phase, which assesses the technical capabilities of the applicants; the site selection and bidding phase; and finally, the awarding phase where licenses will be issued. To support competitors in this rigorous process, the Ministry is making all relevant geological data regarding the targeted belts available on the “Mining” electronic platform. This initiative is aimed at promoting fairness and transparency in exploration activities.
The Kingdom expects that this initiative will spur increased investment in exploration activities, contribute to the national geological database with additional technical information, and create new employment opportunities. Furthermore, this move aligns with Saudi Arabia’s commitment to fostering sustainable economic growth through the development of the mining sector according to international best practices. The focus will be on environmental sustainability and social responsibility, which reflect the Kingdom’s long-term vision for its mineral resources.
Overall, the extended timeline for the qualification process signals the Ministry’s intent to enhance participation from a broader array of investors in the mining industry. This aligns with Saudi Arabia’s broader economic diversification strategy under Vision 2030, which aims to reduce the country’s dependence on oil revenue and foster growth in non-oil sectors, particularly mining, which holds vast untapped potential.
By establishing a well-defined and transparent process, the Ministry of Industry and Mineral Resources is taking significant steps towards realizing the full potential of the Kingdom’s mineral wealth while ensuring responsible and inclusive growth in alignment with global standards. This initiative not only emphasizes the importance of mining but also supports the overall economic strategy of the nation, thereby promising a brighter and more sustainable future for the sector and its stakeholders.
