Saudi Arabia’s Ministry of Industry and Mineral Resources designated four mining sites for copper, zinc, and gold ores to be offered for competitive bidding, with immediate effect.
The move was based on Article 19 of the Mining Investment Law, which allows the ministry to designate land or marine areas for competitive tendering. Mining licenses for such areas can only be awarded through competitive bidding in accordance with the law and its executive regulations.
Al-Daamah area in the Makkah Region was identified as a copper ore site, while Ashhab Al Dhiab area in the Riyadh Region was designated for zinc ore.
Meanwhile, Al Khashabi area in the Riyadh Region and Abraq Abab area across the Riyadh and Makkah Regions were designated as gold ore sites.
Saudi Arabia’s Ministry of Industry and Mineral Resources designated four mining sites for copper, zinc, and gold ores to be offered for competitive bidding, with immediate effect.
The move was based on Article 19 of the Mining Investment Law, which allows the ministry to designate land or marine areas for competitive tendering. Mining licenses for such areas can only be awarded through competitive bidding in accordance with the law and its executive regulations.
Al-Daamah area in the Makkah Region was identified as a copper ore site, while Ashhab Al Dhiab area in the Riyadh Region was designated for zinc ore.
Meanwhile, Al Khashabi area in the Riyadh Region and Abraq Abab area across the Riyadh and Makkah Regions were designated as gold ore sites.
