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Saudi Arabia Unveils Extensive Mineralized Belts for Exploration Firms

Saudi Arabia’s Ministry of Industry and Mineral Resources is inviting local and international companies to participate in the Exploration Licensing for launched mineralized belts (Reuters)
Saudi Arabia’s Ministry of Industry and Mineral Resources is inviting local and international companies to participate in the Exploration Licensing for launched mineralized belts (Reuters)
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Saudi Arabia Unveils Extensive Mineralized Belts for Exploration Firms

Saudi Arabia’s Ministry of Industry and Mineral Resources is inviting local and international companies to participate in the Exploration Licensing for launched mineralized belts (Reuters)
Saudi Arabia’s Ministry of Industry and Mineral Resources is inviting local and international companies to participate in the Exploration Licensing for launched mineralized belts (Reuters)

Saudi Arabia's Ministry of Industry and Mineral Resources has unveiled its largest mineralized belts to date, spanning 4.7 thousand square kilometers and including five new exploration licenses.
The Ministry is inviting major mining and exploration companies to participate in the current Exploration Licensing Rounds, aiming to unlock the extensive mineral wealth of these belts.
The Ministry’s spokesperson, Jarrah Al-Jarrah, emphasized that this initiative underscores Saudi Arabia’s commitment to strengthening its mining and minerals sector and creating investment opportunities.

The five available exploration licenses are part of the Ministry’s strategy to boost exploration investment and support Vision 2030 objectives, which aim to position mining as a key industry in the Kingdom.
These licenses cover significantly larger areas than previous rounds and are targeted at high-net-worth companies with developed base and precious metal mines.
Saudi Arabia is seeking investors capable of exploring and discovering large, tier-1 deposits within approximately 1,000 square kilometers of exploration licenses. The Kingdom’s infrastructure and competitive financing options make it well-positioned to develop new tier-1 sites.
The Ministry is inviting local and international companies to participate in the Exploration Licensing for the following mineralized belts:
- Jabal Sayid: Three exploration licenses covering 2,892 square kilometers. The belt contains copper, zinc, lead, gold, and silver.
- Al-Hajjar: Two exploration licenses at the Wadi Shwas VMS Belt, covering 1,896 square kilometers. This site holds deposits of gold, silver, copper, and zinc.
Al-Jarrah highlighted that Jabal Sayid and Al-Hajjar are the largest mineralized belt sites ever launched by the Kingdom.
The bidding process for the exploration licenses will be transparent and conducted in stages, beginning with pre-qualification from July to October 2024.
Qualified bidders will then submit technical proposals and social and environmental impact management plans by December 2024, with the winners announced and licenses granted in January 2025.

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Saudi Arabia Eyes Asian Investments via Shenzhen, Shanghai

Group photo of the listing (Asharq Al-Awsat)
Group photo of the listing (Asharq Al-Awsat)
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Saudi Arabia Eyes Asian Investments via Shenzhen, Shanghai

Group photo of the listing (Asharq Al-Awsat)
Group photo of the listing (Asharq Al-Awsat)

The Saudi financial market has undergone a significant transformation since the launch of Saudi Vision 2030.
The initiatives, programs, and regulatory reforms associated with Vision 2030 have encouraged international investors, index providers, and financial institutions to join the Saudi market.
The Public Investment Fund (PIF) has worked to achieve the objectives of Saudi Vision 2030 by implementing mechanisms that enhance the pace of attracting foreign investments to the Kingdom.
This includes stimulating international investors, particularly Asian investors, to invest in the Saudi financial market. One notable development is the listing of the first batch of exchange-traded funds (ETFs) in the Saudi market, such as the Saudi China Southern CSOP Fund and the Saudi Huatai-PineBridge CSOP Fund on the Shenzhen and Shanghai stock exchanges in China.
During the announcement of the listing on the Shenzhen Stock Exchange, PIF Governor Al-Rumayyan Yasir stressed that these listings are an important step toward enhancing communication among the financial markets of Saudi Arabia and China.
They will provide Asian investors with the opportunity to access the Saudi financial market and observe its sustainable growth driven by the Kingdom's economic transformation.
These two new funds are part of the first batch of ETFs in China capable of investing in the Saudi financial market.
They rely on the model known as listed ETFs, which allow investors to track the FTSE Saudi Arabia Index and invest in the largest market in the Middle East.
This enables investors to gain greater access to one of the fastest-growing and most strategic markets in the world and observe the performance of 56 leading large and medium-cap companies listed on the Saudi stock exchange (Tadawul).
The new listing comes as part of the efforts initiated by the PIF to enhance investment flows into the Saudi Arabian capital market.
During the announcement of the listing process on the Shenzhen Stock Exchange, Al-Rumayyan emphasized that the listing operations are an important step toward enhancing communication between the financial markets in Saudi Arabia and China.
He added that these operations will provide Asian investors with the opportunity to access the Saudi Arabian capital market and observe its sustainable growth driven by the economic transformation in the Kingdom.