12 local, int’l mining firms qualified for EEP second round

The Ministry of Industry and Mineral Resources and the Ministry of Investment announced that 12 local and international mining companies have been qualified for the second round of the Mining Exploration Enablement Program (EEP), as part of the Kingdom’s efforts to advance the exploration of its mineral resources—estimated at SAR 9.6 trillion.

The ministries highlighted the strong interest from both domestic and international companies, noting that 44 applications were evaluated, submitted by 14 companies, candidates, and consortiums. Following an initial screening, 38 exploration licenses submitted by 12 companies were qualified to move forward, in line with the program’s objectives and standards.

The projects cover a total area of around 3,000 square kilometers, with commitments of up to SAR 664 million in exploration spending. The planned works include over 75,000 meters of drilling, geophysical surveys worth millions of riyals, and drilling and analyzing more than 102,000 geological samples.

The program also supports qualified companies in obtaining mining licenses. The companies’ spending commitments on mining works total SAR 6.1 million, representing 43% of the program’s total committed expenditures.

Moreover, the projects will create 63 direct jobs, including 27 Saudi nationals and 36 experts, reflecting the program’s commitment to supporting local communities and building global-level opportunities.

Launched during the Future Minerals Forum in January 2022, the EEP is a national initiative aimed at reducing investment risks in the mining sector by providing financial incentives and facilitation measures, such as reimbursing exploration costs. This helps attract investment in critical and strategic minerals including copper, nickel, lithium, zinc, gold, iron, and others.

The Ministry of Industry and Mineral Resources, in collaboration with the Ministry of Investment, is preparing to launch the third round of the EEP in January 2026 during the Future Minerals Forum. This round will focus on expanding exploration in new areas of the mineral-rich Arabian Shield, with emphasis on strategic minerals such as copper, lithium, platinum, gold, iron, and more.