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Saudi Arabia's Ministry of Industry and Mineral Resources released on Monday the list of 10 local and international companies that qualified to bid for the exploration sites of Umm Hadid, Bir Umq and Jabal Sahabiyah.
The prequalified bidders are as follows:
- AMAK, Andean Precious Metals Company
- Almasane Alkobra Mining
- Energy Transition Minerals
- Lotus Gold Corporation
- Mawarid Mining
- Royal Mining Group
- Saudi Arabian Mining Company (Ma’aden)
- Steppe Gold Company
- Consortium of Alara Saudi Ventures, Al Tasnim Holding and Southwest Pinnacle Company
- Consortium of Sumou Holding and Kuya Silver Company
The Umm Hadid site in Riyadh spans an area of more than 246.35 square kilometres (sq. km), and contains deposits of silver, lead, zinc, and copper. It is located within the underexplored Nabetah belt.
The Bir Umq site in Madinah is located within the underexplored Jabal Sayd belt. Spanning an area of 187.37 sq km, the site is rich in copper and zinc.
Jabal Sahabiyah in Asir is located within the underexplored As Shaib belt. The site, spread over 283.81 sq km, contains zinc, lead, and copper deposits.
The proposal submission deadline is July 2023, and the results of the proposals stage will be declared in August 2023, with exploration licenses to the winning bidders issued within three months of the end of the round, according to details shared by the ministry.
The Ministry had shortlisted 13 bidders for Muhaddad and Ar Ridaniyah exploration licenses. The results of the bidding stage are scheduled to be declared this month.
The Kingdom had awarded two major exploration licenses last year, namely Khnaiguiyah in September 2022 and Umm Ad Damar in October 2022.
(Writing by Anoop Menon; Editing by Bhaskar Raj)