Saudi Arabia Opens Bidding for Three Mining Sites in Madinah & Riyadh

Saudi Arabia has launched bidding for three mining sites in Madinah and Riyadh as part of the ninth round of exploration licence competitions. Covering a total area of 24,946 square kilometres, the sites—Nuqrah and Sukhaybrah Al-Safra in Madinah and Nabitah in Riyadh—contain significant deposits of gold, copper, silver, zinc and nickel.

This initiative is part of the kingdom’s broader strategy to expand its mining sector, with plans to offer exploration licences for over 50,000 square kilometres in 2025. With an estimated USD 2.5 trillion in untapped mineral resources, Saudi Arabia is working to maximise the economic potential of its reserves and develop value-added supply chains.

The licensing process consists of three stages, starting with the pre-qualification phase, which was launched at the Future Minerals Forum in January and will continue until early May. The bidding deadline is set for August 15th, with winners scheduled to be announced by August 30th.

In recent years, more than 10,000 square kilometres have already been tendered for exploration, underscoring Saudi Arabia’s commitment to developing its mineral sector and attracting global investment.