JEDDAH: Saudi Arabia has shortlisted 30 companies for 22 mining licenses to extract sand and gravel in the Eastern Province and Tabuk, advancing its mining sector expansion and economic diversification.
The Ministry of Industry and Mineral Resources said the permits cover Northwest Salwa Western Complex, Al-Masna Crushers Complex, and South Wadi Amq Complex.
The process, which received 49 applications, marks another step in Saudi Arabia’s push to develop mining as a third pillar of its industrial base, alongside oil and petrochemicals, with efforts ongoing to tap into the Kingdom’s estimated $2.5 trillion of mineral wealth.
In the Eastern Province, three companies — Saleh Abdul Aziz Al Rashid and Sons Co., Sana Al Sharqiya Contracting Co., and Asas Al Muasim Contracting Co. — have been prequalified for sand extraction at Northwest Salwa Western Complex.
For gravel mining at Al-Masna Crushers Complex, northeast of Hafar Al-Batin, the contenders include Saleh Abdul Aziz Al Rashid and Sons Co., Sana Al Sharqiya Contracting Co., and Al-Yamamah Co. for Commercial Works and Contracting.
Meanwhile, 24 companies will compete for gravel extraction rights at South Wadi Amq Complex in Tabuk, including Tabuk Modern Contracting Co., Mega Co., and Suleiman bin Saleh Al Muhailib Mining Co.
In December, the Taadeen platform introduced a competitive bidding process to secure a stable domestic supply of essential construction materials.
A month earlier, the ministry awarded 11 mining exploration permits covering 850 sq. km across Riyadh, Makkah, and Asir, with one national company and five alliances of 10 local and international firms securing rights.
The ministry stressed that these efforts are crucial to maximizing the value of Saudi Arabia’s mineral resources and establishing mining as a key pillar of the Kingdom’s economic future.
The news of the shortlist came in the same week as it was announced nearly SR29 billion ($7.7 billion) in investments is being directed toward the city of Wa’ad Al-Shamal as it aims to become a major hub for the Kingdom’s mining industry.
The vast majority of the funding — SR28 billion — is for the launch of Ma’aden’s Phosphate 3 project, backed by the Shareek program.
This initiative is set to increase Saudi Arabia’s phosphate production capacity to 9 million tonnes annually, building upon the existing Phosphate 1 and Phosphate 2 projects, which each produce 3 million tonnes.
