Saudi Arabia awards 11 mining exploration permits under accelerated program

The recent competition concluded with one national company and five alliances consisting of 10 local and international firms being awarded the exploration rights. File
Short Url
Updated 05 November 2024
Follow

Saudi Arabia awards 11 mining exploration permits under accelerated program

JEDDAH: Saudi Arabia has granted 11 mining exploration permits to local and international companies for six sites under its Accelerated Exploration Program, which aims to unlock the Kingdom’s underutilized mineral resources.

On Nov. 5, the Ministry of Industry and Mineral Resources announced that the permits, covering a total area of 850 sq. kim across Riyadh, Makkah, and Asir, were awarded as part of a competitive licensing round designed to boost the country’s mineral sector. This initiative is aligned with Saudi Arabia’s Vision 2030 and the National Industry Development and Logistics Program.

The recent competition concluded with one national company and five alliances consisting of 10 local and international firms being awarded the exploration rights. The competition was designed to maximize the value of the country’s mineral resources and expand the mining industry as a key pillar of the economy.

Transforming the mining sector

Saudi Arabia is aiming to transform mining into the third pillar of its industrial base, alongside oil and petrochemicals. The Kingdom is home to more than 5,300 mineral sites, estimated to be worth around SR5 trillion ($1.33 trillion), and the ministry is actively seeking to harness these resources to fuel economic growth.

Among the winners, the alliance of ANS Exploration and Odyssey Metal Ltd. was granted an exploration license for the Umm Qasr site in Riyadh, known for its deposits of gold, silver, lead, and zinc. Gold and Minerals Co. secured a license for the Wadi Doush site in Asir, an area rich in gold, silver, and copper ore deposits, covering 157 square kilometers.

The alliance of AuKing Mining Ltd. and Barg Al-Saman Mining Co. received a license for the Shuaib Marqan site in Riyadh, spanning 92 square kilometers and noted for its copper, silver, and gold resources. Meanwhile, Metal Bank Ltd. and the Mining Holding Co. were awarded the Wadi Al-Jouna site in Asir, which covers 425 square kilometers and contains copper, zinc, silver, and gold.

Other awarded licenses include the Hazm Shubat site in Asir, granted to the Rawkad and Masharef alliance, which is known for its gold deposits. The Midad Al-Muna for Mining and Tinka Resources alliance was given the license for the Huwaimdhan exploration site in Makkah, which also holds significant gold resources.

Commitment to local development

A total of 44 bids were received from 22 companies — many of them new to the Saudi market—during the competition. Bids were evaluated based on technical expertise, proposed work programs, and social and environmental considerations. As part of their commitment, the winning companies have pledged to invest SR75 million ($20 million) in exploration activities and SR5 million toward community development, aiming to create jobs and opportunities for citizens in underserved areas.

This licensing round marks a significant milestone for Saudi Arabia’s mining sector, with four companies receiving exploration licenses for the first time, further cementing the Kingdom’s appeal as a leading investment destination for mining.

Aligning with Vision 2030

The ministry highlighted that this initiative reflects investors' confidence in Saudi Arabia’s mining investment framework, which adheres to the highest standards of transparency and environmental responsibility. It also underscores the country’s commitment to diversifying its economy in line with Vision 2030, which aims to develop the mining sector as a key economic driver.

In a related development, the ministry recently announced another competition for seven mining exploration licenses, covering regions in Makkah and Riyadh and targeting a range of precious and base metals, including gold, copper, zinc, lead, and silver. The deadline for submitting technical proposals for this new licensing round is at the end of November.

MoU signed

The ministry and Sukuk Capital have signed a memorandum of understanding aimed at enhancing industrial financing. The agreement, reported by the Saudi Press Agency, is designed to provide tailored financial solutions for industrial enterprises.

The MoU was signed by Al-Badr Fouda, the Ministry’s Deputy Minister for Industrial Development, and Abdulaziz Al-Sayyari, CEO of Sukuk Capital, with the ceremony attended by Deputy Minister for Industrial Affairs, Khalil bin Ibrahim bin Salamah.

The partnership aims to develop innovative financial products that support the growth and sustainability of local factories, in line with the goals of the National Industrial Strategy. The agreement also focuses on customizing Sukuk Capital’s financial offerings to meet the unique requirements of industrial businesses.

The financial solutions covered by this MoU include working capital financing, asset financing, and acquisition financing — designed to address the funding needs of factories and help drive their expansion.


From barrels to bytes: How AI is powering Saudi Arabia’s industrial transformation

Updated 08 January 2026
Follow

From barrels to bytes: How AI is powering Saudi Arabia’s industrial transformation

  • Inside the Kingdom’s drive to merge energy expertise with digital intelligence

RIYADH: Artificial intelligence is moving beyond concept to become a cornerstone of Saudi Arabia’s energy sector, reshaping how oil, gas, and power systems are managed and optimized.

Industry giants like Saudi Aramco are embedding smart systems into their operations to boost efficiency, reliability, and sustainability—key pillars in the Kingdom’s efforts to modernize its industrial base and diversify its economy.

According to the International Energy Agency, oil and gas companies were among the first to adopt digital technologies. The agency estimates that applying AI to power plant operations and maintenance could save up to $110 billion annually by 2035 through reduced fuel consumption and maintenance costs.

For Saudi Arabia, this technological momentum offers both a blueprint and an opportunity. Under Vision 2030, integrating data and intelligent automation is transforming how energy is explored, refined, and delivered.

At the heart of Saudi Aramco’s operations is a digital transformation strategy centered on artificial intelligence, big data, and the industrial Internet of Things. These technologies are applied at every stage of production—from mapping reservoirs and optimizing drilling to improving efficiency and safety.

AI also underpins Aramco’s Digital Transformation Program, which develops in-house smart tools and data-driven platforms designed to cut emissions, reduce costs, and enhance performance while ensuring a reliable energy supply.

A prime example is the Upstream Innovation Center, where engineers have implemented AI solutions that reduce fuel gas use in boilers, improve efficiency, and detect potential leaks through fiber-optic monitoring. At the Khurais oil field, more than 40,000 sensors monitor approximately 500 wells via an Advanced Process Control system—the first of its kind for a conventional oil field at Aramco. Digitization at Khurais has increased production by around 15 percent, doubled troubleshooting speed, and lowered both costs and environmental impact.

These advances illustrate how Aramco’s network is evolving into a connected, adaptive model, blending traditional engineering expertise with digital intelligence.

DID YOU KNOW?

• AI could save up to $110 billion a year in global power plant fuel and maintenance costs by 2035.

• Advanced Process Control enables real-time monitoring of hundreds of oil wells in the Kingdom.

• AI-powered simulations now replace weeks of manual analysis, enabling faster operational decisions.

As Saudi Arabia develops an AI-driven energy economy, the King Abdullah University of Science and Technology is bridging the gap between digital innovation and industrial application. 

Bernard Ghanem, chair of the Center of Excellence for Generative AI, said the university is working with Saudi Aramco to develop AI systems that predict the chemical properties of materials and accelerate research into direct air capture technologies for carbon dioxide removal.

He told Arab News that KAUST is partnering with SABIC and ACWA Power to apply AI in process optimization and materials discovery, turning lab-scale research into practical solutions for the energy sector.

Ghanem said KAUST’s generative AI materials program combines a robotic chemistry lab with its AI Chemist foundation model, a system that accelerates the development of catalysts, battery materials, and membranes for clean energy applications.

“This is our lab of the future, automating experimentation and speeding up energy innovation,” he said.

Opinion

This section contains relevant reference points, placed in (Opinion field)

Mani Sarathy, professor of chemical engineering at KAUST, noted that AI-based reinforcement learning tools are already improving efficiency in hydrocarbon refineries by enhancing simulations and shortening analysis cycles.

“AI is helping energy companies run complex simulations that once took weeks, enabling faster and more precise operational decisions,” he told Arab News.

Sarathy added that the next phase will combine automation with expert oversight. Hybrid human-AI control systems, he explained, are likely to become standard in critical operations, balancing digital autonomy with safety and reliability as Saudi industries expand AI deployment.

These efforts highlight KAUST’s growing role in transforming AI from an academic discipline into a driver of industrial innovation in Saudi Arabia’s energy sector under Vision 2030.

Meanwhile, Skeleton Technologies is bringing AI-driven energy storage solutions to Saudi partners, solutions that are already reshaping industrial systems across Europe and beyond. In Europe, the company combines artificial intelligence and advanced materials to reduce energy use and improve efficiency in data centers, electricity grids, and defense systems.

“Our solutions allow AI infrastructure to consume less electricity and reduce grid connection needs, making AI operations more energy efficient,” Arnaud Castaignet, vice president of government affairs and strategic partnerships at Skeleton, told Arab News.

Inside its factories, Skeleton uses AI-driven digital twin models, created with Siemens Digital Industries, to simulate production, optimize operations, and enable predictive maintenance, Castaignet said. At the core of its technology is curved graphene, a proprietary carbon material that gives Skeleton’s supercapacitors exceptional conductivity.

“It allows our supercapacitors to charge and discharge within microseconds, around 12 microseconds, something batteries cannot do,” Castaignet said.

The company’s flagship Graphene GPU system, built on these supercapacitors, cuts energy use in AI data centers by up to 40 percent and reduces grid requirements by 45 percent while boosting computing performance. The devices are free of lithium, nickel, and cobalt, relying instead on graphene derived from silicon carbide—essentially sand—processed entirely in Germany.

“To build sustainable AI infrastructure, you need energy-saving hardware as well as renewable power,” Castaignet added. “Our Graphene GPU shows both can work together.”

As Saudi Arabia continues linking engineering expertise with digital intelligence, its industrial progress is measured not only in barrels of oil but also in bytes, data, and the smart systems shaping its energy future.