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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)
