Industry, Investment Ministries invite miners to register for Mining Exploration Enablement Program

The Ministry of Industry and Mineral Resources and the Ministry of Investment invite mining companies and explorers worldwide to register for the Mining Exploration Enablement Program, as part of the Kingdom's efforts to enhance and develop the mining sector and transform it into the third pillar of national industries in line with the goals of Saudi Vision 2030.

The program aims to enhance exploration activities, maximize the value derived from the mining sector, expand exploration potential in the Kingdom by focusing on unexplored areas, develop local talent, skills and capabilities in the field of mineral exploration in the Kingdom, and develop geological knowledge by providing innovative data to international standards that contribute to investment opportunities.

The Ministry of Industry clarified in a statement that there are several criteria for participation in the program, including a focus on exploring strategic minerals classified under Category (A) in the mining investment system, including copper, lithium, nickel, gold, and iron. Exploration efforts should prioritize previously unexplored areas. Additionally, companies must obtain a valid exploration license within the first 5 years of the license's term, have a successful record in exploring new sites, and encourage investors to benefit from local service providers, thereby contributing to the growth of local companies and enhancing the local supply chain.

The Ministry has set a deadline from April 1 to May 31, 2024, for interested investors to submit their applications. The winners will be announced by the end of July 2024. For more details on the requirements for joining the Mining Exploration Empowerment Program, please refer to the ministry's announcements.

It's worth noting that the Ministry of Industry has launched Ta’adeen platform aimed at providing an easy experience for investors in the mining sector, providing necessary reports to identify investment opportunities, and contributing to increasing investment in the mining sector.