On October 18, 2022, the Ministry of Industry and Mineral Resources (MIMR) and the Ministry of Investment (MISA), in collaboration with the U.S.-Saudi Business Council (USSBC), hosted the webinar “Update on Opportunities in the Saudi Mining Sector” for an audience of high-level representatives from the global mining industry and financial sector.
Led by Musad Aldaood, MIMR Deputy Minister for Mining Development, the webinar showcased Saudi Arabia’s third licensing round for Muhaddad, an exploration license that is part of the mineral-rich Arabian Shield. The Umm Ad Damar site, covering more than 138 sq. km, includes rich deposits of copper, gold, zinc, and lead. The program explored Saudi Arabia’s mining ecosystem, including the vast underexplored Arabian Shield and its mineral potential as well as recent reforms Saudi Arabia has undertaken to attract investors such as the 2021 revamped mining law and best-in-class financial incentives.
Attendees learned about financing options for investors and partners, Saudi Arabia’s geological database and the country’s available minerals, requirements for interested partners, and specifics on Muhaddad’s available minerals and the project’s third round of licensing.
In September 2021, the USSBC hosted a delegation from the MIMR and SGS for a multi-city trip to meet with U.S. mining industry leaders and executives. During the trip, the USSBC organized a seminar titled “Saudi Arabia: Mining Market on the Move” during MINExpo in Las Vegas, Nevada, with speakers from MIMR giving a presentation on Saudi Arabia’s mining sector to a high-level representatives from the industry. To read more about the information presented during the event and the Ministry’s visit, click here.
