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The Saudi Ministry of Industry and Minerals Resources (DMMR) is expected to launch the first mineral licensing round for the Al Khnaiguiyah Zinc-Copper project.
The announcement was made at the recently concluded Future Minerals Forum in Riyadh, according to a stock exchange statement dated 17 January by Australian mine developer Alara Resources.
The statement said the project would be tendered as an exploration licence, covering an area of 353.8 square kilometres, including Alara’s previous project licence area. The auction process will have three stages, starting with Registrations of Interest. This will be followed by a Qualification stage and, finally, Bidding and Grant.
Alara, which participated in the Forum, said it has registered its interest in the auction process with the Ministry.
Saudi Arabia aims to attract nearly 115 billion Saudi riyals ($30 billion) in investment into its mining industry by 2025.
(Writing by SA Kader; Editing by Anoop Menon)
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