Saudi Arabia’s Ministry of Industry and Mineral Resources has announced the pre-qualified bidders for five exploration licenses in the country’s first mineralised belts at the Jabal Sayid Medina and Al-Hajar Aseer regions.

The qualified bidders are:

- Al Masane Al Kobra Mining Company
- Consortium of Artar & Gold and Minerals
- Consortium of Orogen Royalties & Altius Minerals Corporation
- Consortium of Pan African Resources & Saudi Gold Refinery
- First Quantum Minerals Ltd
- Hancock Prospecting
- IGO 
- K92 Mining
- McEwen Mining 
- Noring Ajlan & Bros.
- Mining Co.
-Silvercorp Metals 
- Vedanta 
- Zijin Mining Group 


The move is part of the country’s strategy to accelerate the exploration and utilisation of mineral resources, the ministry said in a tweet on social messaging platform X.

Three exploration licenses are located in Jabal Sayid Medina, covering an area of ​​2,892 square kilometres. The area includes base and precious metals, such as copper, zinc, lead, gold and silver.

The other two exploration licenses are located in Al-Hajar Aseer site, covering ​​1,896 square kilometres. The area is rich in precious and base metals including copper, zinc, gold and silver.

The winning companies will be announced in January 2025.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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