The 9 Trillion Treasure: Saudi Arabia Awards «Gold» and Mineral Exploration Licenses to 24 Global Consortia

A Major Mining Revolution Shaping Saudi Industry

In a historic move cementing the Kingdom's position as a pivotal player in the global minerals market, the Ministry of Industry and Mineral Resources announced the awarding of the largest mining competition in its history.

Twenty-four local and international companies and consortia won exploration licenses for 172 sites.

This competition primarily focuses on Gold and other strategic minerals, with initial investments exceeding 671 million SAR in the first two years, paving the way for exploiting geological riches valued at approximately 9.4 trillion SAR.

Mineral Belts with Massive Gold Reserves

The sites included in the competition span a vast area exceeding 24,000 square kilometers, concentrated in mineral-rich belts such as the "Ad Duwayhi/Nabita" and "Sukaybarat" belts, areas renowned for their vast quantities of Gold, copper, and silver.

The round witnessed global interest from major firms like Discovery Arabia and Ivanhoe Electric, reflecting growing international confidence in the Saudi investment environment and the mining sector's transformation into the third pillar of national industry under Vision 2030.

Supply Chain Sustainability and 2026 Ambitions

This competition is not just about securing exploration licenses; it aims to bolster the resilience of global mineral supply chains by exploring untapped greenfield areas.

Alongside the success of this round, which focused on Gold and copper deposits, the Kingdom is preparing to launch additional opportunities covering 13,000 square kilometers in Makkah, Madinah, and Hail.

A new investment roadmap for 2026 is expected to be unveiled during the next International Mining Conference, as the Kingdom continues its journey toward becoming an unrivaled global mining powerhouse.