Mining Sector Expansion: Saudi Arabia Awards Exploration Licenses

On February 20, 2025, King Salman bin Abdulaziz Al Saud officially approved the symbol for the Saudi riyal, a significant milestone in the Kingdom’s financial and cultural identity.

In a major move to boost its mining sector, Saudi Arabia has awarded exploration licenses to a mix of local and international companies, reinforcing its position as a key player in the global mining industry. Among the recipients are India’s Vedanta and a consortium comprising Saudi-based Ajlan & Bros and China’s Zijin Mining—highlighting the growing international interest in the Kingdom’s untapped mineral wealth.

The newly issued licenses cover two of the Kingdom’s first mineralized belts: Jabal Sayid in the Madinah region and Al Hajar in Aseer. These areas are rich in high-demand resources such as copper, zinc, gold, and silver, offering strong potential for long-term development and investment.

In total, the licensed exploration area spans 4,788 square kilometers, marking a significant step in the implementation of Saudi Arabia’s Vision 2030 objectives to diversify its economy and become a global hub for mining.

The licensed companies plan to invest around 366 million SAR (approximately $97 million USD) in exploration activities over the next three years. This influx of capital is expected to accelerate geological research, job creation, and industrial development in the regions.

As Saudi Arabia continues to unlock the potential of its mining sector, the move signals an open invitation to global investors and strategic partners eager to be part of a transformative journey.