Riyadh: The Ministry of Industry and Mineral Resources and the Ministry of Investment announced today the qualification of 12 mining companies in the second wave of the Exploration Enablement Program (EEP).
According to Saudi Press Agency, the ministries confirmed strong interest from both local and international companies, with 44 applications submitted by 14 companies, resulting in the preliminary approval of 38 licenses proposed by 12 companies. These projects align with the program’s objectives and participation criteria and are moving forward for the final stage.
The qualified projects cover a total license area of approximately 3,000 km², with exploration commitments of nearly SAR664 million. The scope of work includes more than 752,000 meters of drilling, geophysical surveys worth approximately SAR20 million, and the collection and analysis of over 102,000 geochemical samples. The program also encourages eligible companies to contribute to the growth of local content, which has resulted in an estimated SAR6.1 million spent locally-representing an average of 43% of total expenditures by eligible companies.
The projects are also expected to support around 63 direct jobs, including 27 Saudi nationals and 36 expatriates, reflecting the program’s commitment to supporting national talent while facilitating knowledge transfer from international expertise.
The ministries also announced the opening of the reimbursement application window for eligible companies that participated in the first wave of the EEP in 2024. The window will remain open until November 30, 2025, allowing eligible companies to submit their claims via [email protected].
The EEP is one of the Kingdom’s flagship programs providing financial enablement and was launched at the Future Minerals Forum (FMF) in January 2024. It aims to reduce early-stage exploration investment risks by providing reimbursements of up to SAR7.5 million per license, while accelerating exploration efforts in the Kingdom, enhancing the availability of reliable geological data, and encouraging investment in future-critical and strategic minerals such as copper, lithium, nickel, gold, and iron.
Plans are underway to launch the third wave of the EEP, which will be announced in January 2026 at the fifth edition of the FMF. The next phase will expand exploration into new areas of the Arabian Shield, with continued focus on strategic minerals.