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Saudi Arabia’s Ministry of Industry and Mineral Resources has awarded exploration licenses for six mining sites in Riyadh, Makkah, and Asir to 11 local companies, within the framework of the accelerated exploration programme for untapped mineral resources in the Kingdom,
The awarded sites span a total area of 850 square kilometres, according to Ministry note.
Details are as follows:
- Asir Region:
Wadi Ad Dawsh: Gold and Minerals Ltd Company. The site holds prospects for gold, silver and copper ore
Wadi Al Junah: Consortium of The Metal Bank Ltd and Mining Holding Company. The site holds copper, zinc, silver and gold deposits
Hazm Shubat: Consortium of RWAKEd and Masharf will prospect for gold.
- Riyadh Region:
Umm Qusur: Consortium of ANS Exploration and Odyssey Metals Ltd. The site holds prospects for gold, silver, lead and zinc.
Shaib Marqan: Consortium of Auking and Barg Alsaman Mining Company. The site has copper, silver and gold deposits.
- Makkah Region:
Huwaymidan: Consortium of Midad Almona and Tinka Resources will prospect for gold.
The winning companies have pledged to spend 75 million Saudi riyals on exploration work, in addition to SAR 5 million on developing communities adjacent to mining sites.
The 7-year EEP programme is designed to encourage and increase investment in exploration for Class A minerals over an area of 4,000 square kilometres in accelerated mode. Other highlights include 440,000 metres of drilling and 57,000 geochemistry samples.
(Writing by Majda Muhsen; Editing by Anoop Menon)
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