Saudi Arabia has called for the next round of international investments in the country’s mining sector.
The Saudi Ministry of Industry and Mineral Resources (MIMR) and the Ministry of Investment (MISA) have invited bids from mining explorers worldwide to participate in the ongoing Exploration Enablement Programme (EEP) of the country – an initiative to strengthen the Saudi mining sector.
According to a statement by the two ministries, the EEP is launched to stimulate exploration in strategic and critical minerals, expand the country’s exploration potential by focusing on underexplored areas and minerals and develop local talent in the mineral exploration and mining sector.
Global investors interested in participating in the EEP must focus on minerals categorized under Class ‘A’ of the Mining Investment Law, such as Copper, Lithium, Nickel, Gold and Iron ore.
The exploration activities should also target underexplored areas or critical minerals to ensure a comprehensive exploration approach. Under the programme, investors are required to submit their work programme applications by May 31.
Successful applicants will be announced by July 31, the ministries’ statement said.
The programme encourages investors to utilize local service providers for essential services and contracts, contributing to the growth of local businesses and strengthening the domestic supply chain.
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