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.



Saudi Arabia Among World's Top 10 Global Markets in Energy Storage

Through the National Renewable Energy Program, overseen by the Ministry of Energy, the Kingdom aims to achieve a storage capacity of up to 48 gigawatt-hours by 2030. (SPA)
Through the National Renewable Energy Program, overseen by the Ministry of Energy, the Kingdom aims to achieve a storage capacity of up to 48 gigawatt-hours by 2030. (SPA)
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Saudi Arabia Among World's Top 10 Global Markets in Energy Storage

Through the National Renewable Energy Program, overseen by the Ministry of Energy, the Kingdom aims to achieve a storage capacity of up to 48 gigawatt-hours by 2030. (SPA)
Through the National Renewable Energy Program, overseen by the Ministry of Energy, the Kingdom aims to achieve a storage capacity of up to 48 gigawatt-hours by 2030. (SPA)

Saudi Arabia has achieved a leading position among the top ten global markets in the field of battery energy storage, coinciding with the launch of the Bisha Project, which has a capacity of 2000 MWh and is one of the largest energy storage projects in the Middle East and Africa.

Through the National Renewable Energy Program, overseen by the Ministry of Energy, the Kingdom aims to achieve a storage capacity of up to 48 gigawatt-hours by 2030. So far, 26 gigawatt-hours of storage projects have been tendered, and they are at various stages of development.

These projects play a pivotal role in supporting the expansion of renewable energy, thereby helping achieve the targets of the national energy mix. The Kingdom aims for 50% of total electricity production to be generated by renewables by 2030, reported the Saudi Press Agency on Friday.

According to the ranking by Wood Mackenzie consultancy, which specializes in the energy sector, Saudi Arabia is at the forefront of emerging markets that are experiencing rapid growth in energy storage projects, amid expectations of the new storage capacities to further strengthen the Kingdom's position among the top ten global markets in this field over the next decade.

This growth aligns with the goals of the Saudi Vision 2030, which seeks to expand electricity production from renewable sources such as solar and wind energy.

The Kingdom plans to operate 8 GWh of energy storage projects by 2025, and 22 GWh by 2026, positioning itself as the third largest global market in energy storage projects, following China and the United States, based on the storage capacities announced to date.

The recently operational Bisha battery energy storage project features 488 advanced battery containers with a storage capacity of 500 MW for a duration of four hours.

The project facilitates battery charging during low-demand periods and discharging during peak times, ensuring backup power availability when necessary, improving the flexibility of electricity supply management, and promoting smart solutions for a more sustainable energy future.

The Kingdom's energy sector is undergoing a significant transformation that strengthens its leading position in the production and export of diverse energy types. By the end of 2024, the total capacity of renewable energy projects, across all stages of development, had reached 44.1 GW.

Energy storage plays a crucial role in enhancing the reliability of electricity supply, thereby improving the National Grid's capacity to deal with emergency situations and achieving strategic objectives for the advancement of the energy sector in the Kingdom.