Skip to content Skip to Search
Skip navigation

Saudi to award Umm Ad Damar mining licence in November

Stock photo of a copper mine. Saudi reported $8bn of foreign direct investment in mining last year Reuters
Omani firms with experience in mining sector projects can submit their bids by June 11

The Saudi Geological Survey has completed the pre-qualification phase to award the exploration license for the Umm Ad Damar mining project, CEO Abdullah Al-Shamrani told Arab News.

“The project will go through different cycles, but by the end of November, we will see the winning company,” he said.

Umm Ad Damar covers an estimated area of 40 square kilometre northeast of Jeddah. The site includes several mineral deposits, including copper, zinc, gold and silver.

Al-Shamrani said that 13 companies have pre-qualified for bidding to get exploration licenses.

The Saudi Arabian Mining Co. (Maaden), AMAK, Ajlan and Bros. Mining Co. and Vedanta are among the qualified bidders.

Saudi Arabia expects its mineral wealth to exceed earlier estimates of SAR4.89 trillion ($1.3 trillion).

The kingdom is planning to triple the spending on the exploration of metals over the next three years, the newspaper said.

Latest articles


Dubai launches one-stop hub to streamline government services

People in Dubai can now obtain an Emirates ID, register a company, open a bank account and more under one roof following the opening of the Emirates Government Services Hub (EGSH). Owned by Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, a member of the Dubai Royal family, EGSH allows clients to access all essential […]

In association with
Thailand's consul general Kitinai Nutakul visits the Saudi Ministry of Foreign Affairs in Jeddah

Thailand opens investment office in Saudi Arabia

Thailand’s Board of Investment (BOI) is opening its first Middle East office in Saudi Arabia, signaling a deepening of economic ties between the nations after a longstanding diplomatic spat. The office will focus on attracting Saudi investment into Thailand’s targeted industries and supporting Thai entrepreneurs looking to invest in the region, the BOI said in […]

hajj saudi arabia

Saudia reports big rise in international passengers

Saudi Arabia’s national carrier Saudia reported a 24 percent increase in international passengers to 9.1 million in the first half of 2024. There was also a 13 percent rise in the number of flights. The Hajj pilgrimage in June played a large part in the growth.  The number of passengers flying on domestic routes rose […]

renewables target dam

World is off track to meet Cop28 renewables goal

The world is far from reaching its 2030 renewables target, the International Renewable Energy Agency (Irena) said on Thursday. Countries committed at the Cop28 summit in Dubai last year to treble renewables capacity in order to limit global warming to 1.5C. To stay on course global capacity growth needs to accelerate to a minimum rate […]