Saudi Arabia will name the winning bidder of the exploration license for the Umm Ad Damar mining project by November-end, Arab News reported on Tuesday, citing Saudi Geological Survey CEO Abdullah Al-Shamrani.

The Ministry of Industry and Mineral Resources announced in mid-August that 13 bidders were prequalified for the license, including domestic stock exchange-listed Saudi Arabian Mining Company (Maaden) and Al Masane Al Kobra Mining Company (AMAK). 

The prequalified bidders have to submit their proposals by October 2022.

The Umm Al-Damar site covers an area of more than 40 square kilometres and includes copper, zinc, gold and silver deposits.

(Writing by D Madhura; Editing by Anoop Menon)