Saudi Arabia opens bids for 7 gold, silver and copper mining sites

Saudi Arabia continues to boost its mining sector, opening bids for the exploration of seven new sites hosting deposits of gold, silver, copper and other valuable metals. This initiative is part of the kingdom’s ambitious plan to develop an estimated $2.5 trillion mining sector, a key component in its economic diversification strategy.

Bids for 7 mining sites are open

The Ministry of Industry and Mineral Resources has announced that tenders will be open until September 2024, offering interested parties the opportunity to explore nearly 1,000 ^km2 of territory for mineral resources. Among the highlighted sites are:

1. Umm Qasir, in the Riyadh region, which extends over 20 ^km2 and contains gold, silver, lead and zinc deposits.
2. Jabal Sabha in Riyadh, where 171 ^km2 of land is presumed to hold reserves of silver, lead, zinc and cobalt.
3. Wadi Ad Dawsh, in the Aseer region, with an area of 157.7 ^km2, is rich in gold, silver and copper.
4. Shaib Marqan in Riyadh, which covers 92 ^km2, contains promising gold, silver and copper deposits.
5. Wadi Al Junah in Aseer, whose 425.37 ^km2 contain copper, silver, zinc and gold.
6. Hazm Shubat in Aseer, covering 93.47 ^km2 with gold reserves.
7. Huwaymidan in Mecca, with an area of 34 ^km2, is also known for its gold deposits.

Mining in Saudi Arabia

The development of these projects is aimed at strengthening the Saudi economy and positioning the country as a key player in the global mining global mining. According to authorities, exploration permits at these sites will open up new investment opportunities, attracting both local and international companies.

This move underscores the kingdom’s commitment to expanding its extractive industry, making the most of its vast natural resources. With the backing of the Ministry of Industry and Mineral Resources, Saudi Arabia expects that these mining projects drive job creation, economic growth and greater self-sufficiency in metals production.

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Source: zawya

Photo: shutterstock