Saudi Arabia has set May 1 as a deadline for submitting proposals for six new mining sites within the fifth licensing round in the Kingdom’s drive to tap its massive minerals wealth.

In an online statement on Sunday, the Industry and Mineral Resources Ministry said the new sites include Halahilah and Jabal Qaran in the South-western Najran province, Makman Hejab in Riyadh, Nimas and Hajirah in the Southern Asir province, and Almiyah in the Western Makkah region.

Source: 'X' account of Ministry of Industry and Mineral Resources, Saudi Arabia
Source: 'X' account of Ministry of Industry and Mineral Resources, Saudi Arabia
Source: 'X' account of Ministry of Industry and Mineral Resources, Saudi Arabia

According to the statement, these sites are potentially rich in gold, silver, copper, zinc and lead and will benefit from funding by the Industrial Development Fund of 75 percent of exploration costs.

The successful bidders will be announced in June 2024.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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