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Date Posted: 7:59:34 4/13/23 Thu
Author: Jasper
Subject: The world is getting precious metals fever.

.
RIYADH: Saudi Arabia’s Ministry of Industry and Mineral Resources has moved one step closer to giving out mining exploration licenses for two of its sites as it shortlisted 13 bidders amid a drive to develop the Kingdom’s mining sector.

The new opportunity will see the shortlisted bidders compete for permission to dig for valuable metals in two key exploration sites in Riyadh and Asir.

The Ar Ridaniyah site, located in the Saudi capital, contains zinc and silver deposits, and spans over an area of 75 sq. km.

Whereas the Muhaddad site in Asir has copper, zinc, lead, and gold deposits and covers 139 sq. km.

The announcement comes as the ministry aims to support investors, enhance investment in the mining sector and encourage national industries.

The shortlisted bidders include African Rainbow Minerals, Alara Saudi Ventures, AMAK, Barrick Gold Corporation, and ERG Arabia

https://www.arabnews.com/node/2284431/business-economy

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