Saudi Arabia extends deadline for EEP 3rd round

Logo of Ministry of Industry and Mineral Resources

The Ministry of Industry and Mineral Resources, in cooperation with the Ministry of Investment, extended the application deadline for the third round of the Exploration Enablement Program (EEP), allowing more companies to participate and benefit from the initiative.

According to a ministerial statement, the move aims to accelerate mineral exploration in the Kingdom, reduce investment risks, attract more local and international mining firms, and maximize the mining sector’s contribution to the national economy—particularly in greenfield areas—while building integrated and resilient mineral value chains from mine to end product.

The third phase offers a comprehensive support package targeting exploration companies and holders of mining licenses, enhancing project feasibility and supporting the transition from exploration to development.

The program provides financial incentives covering up to 25% of eligible exploration expenditures, including drilling, laboratory testing, and geological studies. It also covers up to 15% of salary costs for employees residing in the Kingdom.

In addition, the program covers up to 70% of total salaries for Saudi talent during the first two years, rising to as much as 100% thereafter, in line with program requirements. This aims to develop local talent, strengthen national capabilities in mineral exploration, promote job localization, and facilitate knowledge transfer.

Applications are open from Jan. 14 to May 3, 2026, followed by the evaluation and approval phase, as well as the signing of funding agreements, from May 3 to June 30, 2026.

Winning projects and contract awards will be announced between July 1 and July 31, 2026.

The program also includes the submission of exploration data between Sept. 1 and Sept. 30, 2027, followed by technical and financial verification and approval of disbursements in January 2028.

Exploration data will be published on the National Geological Database in April 2028.

According to data available with Argaam, the third round of the EEP was launched in February 2026, offering a comprehensive support package for exploration companies and mining license holders.