off-the-wire

Saudi Arabia launches bidding for 13,000 sq km mineral exploration licences

Kitco Media
By Reuters
Published:
Updated:
Reuters
Saudi Arabia launches bidding for 13,000 sq km mineral exploration licences teaser image

Saudi Arabia opened a bidding round for three mineral exploration licences across a 13,000 square km area, the Industry and Mineral Resources Ministry said in a statement on Monday, as the kingdom accelerates efforts to tap deposits estimated at 9.4 trillion riyals ($2.50 trillion).

The licences cover newly defined belts in the regions of Madinah, Makkah, Riyadh, Qassim and Hail, including areas prospective for gold, silver, copper, zinc and lead.

($1 = 3.7527 riyals)

(Reporting by Menna Alaa El Din, and Muhammad Al Gebaly Editing by Tomasz Janowski)

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