Saudi Arabia’s Ministry of Industry and Mineral Resources and Ministry of Investment have qualified 12 mining companies for the second wave of the Kingdom’s Exploration Enablement Program (EEP), marking a significant advancement in the nation’s mining sector development. The announcement, made in Riyadh today, represents a total exploration commitment of SAR664 million across approximately 3,000 square kilometers of promising mineral-rich territory.
Program Success and Selection Process
The highly competitive selection process attracted 44 applications from 14 companies, with 38 licenses ultimately receiving preliminary approval for 12 qualified companies. This robust response demonstrates growing international confidence in Saudi Arabia’s mining sector and the effectiveness of the Kingdom’s mineral exploration incentives.
The comprehensive scope of approved projects includes more than 752,000 meters of drilling operations, extensive geophysical surveys valued at approximately SAR20 million, and the collection and analysis of over 102,000 geochemical samples, setting new benchmarks for mineral exploration in the region.
Economic Impact and Local Content Development
The program’s emphasis on local content development has already shown promising results, with participating companies directing approximately SAR6.1 million toward local spending, achieving an impressive 43% average of total expenditures. The initiative is also creating valuable employment opportunities, with plans to support 63 direct jobs, including 27 positions for Saudi nationals, facilitating crucial knowledge transfer from international expertise.
Strategic Mineral Focus and Future Developments
The EEP, launched at the Future Minerals Forum in January 2024, strategically targets future-critical minerals including copper, lithium, nickel, gold, and iron. The program offers substantial support to qualified companies, with reimbursements of up to SAR7.5 million per license to mitigate early-stage exploration risks.
Companies from the first wave of the EEP can now submit reimbursement applications until November 30, 2025, demonstrating the program’s commitment to supporting sustained exploration activities.
Vision 2030 Alignment
This expansion of the EEP directly supports Saudi Arabia’s Vision 2030 objectives to diversify the economy and establish the Kingdom as a global mining hub. With plans already in motion for the third wave of the program, to be announced at the fifth Future Minerals Forum in January 2026, Saudi Arabia continues to demonstrate its commitment to developing a world-class mining sector that will contribute significantly to the nation’s economic transformation and sustainable development goals.