The License Surge That Signals a Market Transformation
The numbers are impossible to ignore. Saudi Arabia issued 144% more mining exploitation licenses in the first half of 2025 compared to the same period last year, representing a total investment exceeding SAR 134 million ($35.7 million) . In November 2025 alone, the Ministry of Industry and Mineral Resources awarded exploration rights for 172 mining sites—officially the largest licensing round in Saudi history . Twenty-two exploitation and small-mine licenses were issued in H1 2025, up from just nine in H1 2024 .
This isn’t merely a statistical blip—it’s the visible indicator of a fundamental market transformation. The Ministry confirmed that 23 mining companies obtained licenses in the first half of 2025, including 16 firms receiving their first-ever mining license . These licensed areas span 47 square kilometers and are expected to produce 7.86 million tons annually of various minerals including salt, clay, silica sand, low-grade iron ore, feldspar, and gypsum .
For engineering, procurement, and construction (EPC) firms operating in the Kingdom, this surge represents a clear and immediate business pipeline. Each new license represents a project that must move from exploration to development—and ultimately to production.
The 10th Exploration Round: A Game-Changer
In December 2025, the Ministry announced the 10th round of exploration license competitions across three mineralized belts covering a total area of 13,000 km² . These belts span five regions—Madinah, Makkah, Riyadh, Qassim, and Hail—and are rich in strategic minerals including gold, silver, copper, and zinc .
The Three Mineralized Belts
| Belt | Key Features | Strategic Minerals |
|---|---|---|
| Nabithah/Ad Duwayhi Belt | Includes Ad Duwayhi Mine with annual production capacity of ~180,000 oz gold | Gold |
| Sukhaybarat/Al-Safra Belt | Extensive exploration studies; Sukhaybarat Mine (729,000 oz gold), Bulghah Mine (50,000+ oz/year) | Gold, Copper, Silver, Zinc, Nickel |
| Al-Nuqrah Belt | Significant gold deposits and volcanic massive sulfide (VMS) mineralization | Gold, Copper, Zinc |
The technical information supporting these opportunities is based on both historical exploration work and the recent Regional Geological Program by the Saudi Geological Survey, which covers the Arabian Shield through detailed geological and geophysical surveys .
The Progression of Licensing Rounds
The scale of opportunity has grown exponentially:
| Round | Area Offered | Key Milestone |
|---|---|---|
| 1st Round (2021) | 353 km² (one site) | Initial launch |
| 9th Round (2024) | 24,000 km² | 172 sites awarded |
| 10th Round (2025) | 13,000 km² | Three mineralized belts |
This progression reflects Saudi Arabia’s success in attracting over 86 top-tier global mining companies, which led to a surge in private-sector exploration spending from SAR 155 million in 2021 to SAR 863.5 million in 2024—nearly a sevenfold increase, totaling SAR 1.05 billion .
The National Strategy Behind the Numbers
Vision 2030’s Third Pillar
The mining sector is now recognized as the third pillar of Saudi Arabia’s industrial economy, alongside energy and petrochemicals . The government targets increasing the sector’s contribution to GDP from less than 3% in 2020 to approximately SAR 281 billion ($75 billion) annually by 2030 .
The Ministry aims to unlock an estimated SAR 9.4 trillion ($2.5 trillion) in untapped mineral resources . This valuation represents a substantial increase compared to previous estimates, following comprehensive geological surveys of the Arabian Shield.
Regulatory Transformation
The Mining Investment Law of 2021 provided the legal framework enabling this expansion. The reforms introduced clearer ownership terms, royalty structures, and streamlined digital application processes . The result: Saudi Arabia has risen from 104th to 23rd globally in the Fraser Institute’s Investment Attractiveness Index .
Key Investor Incentives:
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100% foreign ownership permitted
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Up to SAR 7.5 million in exploration funding per eligible application
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Up to 75% co-funding of capital costs through the Saudi Industrial Development Fund (SIDF)
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National Geological Database (NGD) providing over 80 years of geological data
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Streamlined licensing with processing times of 30-90 days for complete applications
The licensing process has been fully digitized through the Ta’adeen platform, ensuring transparency and fairness through a three-stage process: prequalification, site selection through GIS-based systems, and multi-round live auctions based on exploration spending commitments .
Government Support Programs
The Exploration Enablement Program offers up to SAR 7.5 million in funding per eligible application to support exploration activities and related costs . This financial support de-risks early-stage investments and has contributed to the fivefold increase in exploration spending since 2020.
The Kingdom is also deploying $15 billion into projects targeting copper, lithium, nickel, and iron ore in emerging economies, positioning itself as a global architect of mineral supply chains .
Where the EPC Opportunities Are Emerging
The License Pipeline: From Exploration to Production
| License Category | Details |
|---|---|
| Active Exploitation Licenses (June 2025) | 239 active exploitation and small-mine licenses |
| Category A Licenses (Strategic Minerals) | 32 licenses for gold, copper, phosphate, and bauxite |
| Category B Licenses (Industrial Minerals) | 207 licenses for silica sand, gypsum, limestone, salt, and clay |
| Total Active Licenses (August 2025) | 2,485 active mining licenses across all categories |
This license activity directly translates into EPC demand. Each exploitation license represents a project requiring:
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Site preparation and earthworks
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Processing plant construction
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Tailings storage facilities (TSF)
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Water management infrastructure
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Access roads and logistics networks
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Electrical and control systems
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Mechanical installation and commissioning
Ma’aden’s Gold Expansion: The Scale of Opportunity
The national mining champion Ma’aden is the driving force behind much of this activity. In 2024, Ma’aden reported 495,000 ounces of gold output, supported by the ramp-up of the Mansourah-Massarah and Ar Rjum projects, each expected to sustain about 300,000 ounces per year of combined production over the next decade .
Key Gold Projects Driving EPC Demand:
| Project | Key Metrics |
|---|---|
| Ar Rjum Gold Mine | 3.6 million ounces over 12 years; 8 million tons/year processing capacity |
| Mansourah-Massarah | 250,000 ounces annually; SAR 105M TSF project |
| Sukhaybarat Mine | Estimated 729,000 ounces of gold |
| Bulghah Mine | Produces more than 50,000 ounces annually |
Beyond gold, the sector is expanding across other minerals. Ma’aden achieved record diammonium-phosphate (DAP) production in Q2 2025 and completed a $1.1 billion acquisition of Alcoa’s 25.1% JV stake, enhancing Saudi control over the integrated aluminum value chain .
Critical Minerals: The Next Frontier
Saudi Arabia is positioning itself as a reliable supplier of critical minerals for electric-vehicle batteries and renewable-energy technologies . In May 2025, Ma’aden signed a memorandum of understanding with MP Materials (USA) to develop a domestic rare-earth supply chain, encompassing mining, separation, and magnet manufacturing . Meanwhile, Manara Minerals—a joint venture between Ma’aden and the Public Investment Fund (PIF)—is negotiating a 10–20% stake in Pakistan’s $9 billion Reko Diq copper-gold project .
Darkstone Arabia’s Position: Proven Capability for the License Surge
The Mansourah-Massarah TSF: A Benchmark for EPC Delivery
Darkstone Arabia has already demonstrated its capacity to deliver on the scale required by Saudi Arabia’s mining sector. At Ma’aden’s Mansourah-Massarah gold mine, Darkstone completed the Tailings Storage Facility (TSF) project, valued at SAR 105 million—the largest of its kind in Saudi Arabia .
Project Metrics:
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Value: SAR 105 million ($28 million)
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Size: 2.5 million square meters
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Completion: Six months ahead of schedule
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Partners: ATC Williams (engineering consultant)
Project Scope Included :
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Construction of waste management system (floor and perimeter embankment, piping, mechanical works, HDPE geomembrane)
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Waste distribution system
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Water management system
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Laboratory testing
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Various related activities
Commissioned in 2023, Mansourah-Massarah is on track to become Saudi Arabia’s largest gold mine, with expected production of 250,000 ounces of gold annually over an estimated life of 12 years . The project demonstrates Darkstone’s ability to manage earthworks, lining, mechanical systems, and air systems at unprecedented scale.
Strategic Partnership: Sinoma CDI Consortium
In a significant development, Darkstone Arabia Ltd. and Sinoma CDI have signed a Consortium MoU to collaborate on a major gold plant construction opportunity in the Kingdom .
Partnership Highlights:
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Complementary Strengths: EPC delivery, construction execution, site mobilization, and large-scale industrial project performance
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Strategic Alignment: “A strategic step toward transferring engineering expertise and industrial know-how into the Saudi market, creating tangible value for mining clients operating within the Kingdom,” said Haytham Ahmad, Darkstone’s CEO
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Market Signal: Partnerships like this reduce delivery risk, accelerate mobilization, and align with Vision 2030’s push for globally benchmarked mining infrastructure
This consortium positions Darkstone to compete for major gold plant construction contracts as the mining license surge translates into processing facility demand.
Integrated Service Capability
Darkstone’s four divisions directly address the needs created by the mining license surge:
| Division | Service | Relevance to License Surge |
|---|---|---|
| Geological Services | Exploration, RC & DD drilling, geotechnical monitoring, resource modeling | New licensees require comprehensive exploration programs |
| Industrial Construction | Large-scale infrastructure projects, civil works, earthworks | TSF construction, processing plants, site preparation |
| Industrial Operations & Maintenance | Mechanical and electrical teams ensuring optimal plant performance | Ongoing O&M for new facilities |
| Solar Division | Renewable energy solutions, solar construction | Sustainable power for remote mine sites |
Future Licensing Rounds and EPC Demand
The Tenth Licensing Round Timeline
The Ministry has confirmed that the 10th licensing round includes a prequalification stage open until December 15, 2025, with a live auction planned for Q1 2026 . All geological and technical data for the sites has been made available on the Ta’adeen digital platform, ensuring investors have access to necessary information .
Investment Projections
Total exploration spending rose fivefold from SAR 205 million ($55 million) in 2020 to about **SAR 1.05 billion ($280 million) in 2024** . The sector has entered its execution stage, with compound investment returns of 10-13% projected through 2030 .
The EPC Opportunity: What It Means for Your Business
Current and Near-Term Opportunities:
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Active License Holders: 239 active exploitation licenses require infrastructure development, including TSF, processing facilities, and water management systems .
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Category A Strategic Minerals: 32 licenses for gold, copper, phosphate, and bauxite represent the most capital-intensive projects, requiring full processing plant infrastructure .
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Exploration Licenses: Recent rounds have awarded hundreds of exploration licenses, creating a pipeline of future exploitation licenses and subsequent EPC work .
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Value Chain Integration: The Ministry’s strategy focuses on building fully connected value chains, where upstream projects feed into midstream and downstream industries within the Kingdom—creating EPC demand across multiple stages .
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Copper Processing: Vedanta is advancing plans for a copper rod plant in Ras Al Khair Industrial City with production capacity, following its exploration license award .
Why EPC Partners Must Act Now
The license surge represents a finite window of opportunity. Early entrants gain:
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First-Mover Advantage: Establishing relationships with new licensees
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Capacity Building: Developing the workforce and supply chains before demand peaks
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Regulatory Familiarity: Navigating the evolving framework ahead of competitors
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Track Record Development: Building a portfolio of successful projects for future bids
Frequently Asked Questions
What is the scale of Saudi Arabia’s mining license surge?
Saudi Arabia recorded a 144% increase in new mining exploitation licenses in H1 2025 compared to H1 2024, representing SAR 134 million in new investment . The 10th exploration round covers 13,000 km² across three mineralized belts rich in gold, silver, copper, and zinc .
What is the 10th exploration round?
The 10th exploration round covers 13,000 km² across three mineralized belts spanning five regions: Madinah, Makkah, Riyadh, Qassim, and Hail. These belts are rich in strategic minerals including gold, silver, copper, and zinc .
What EPC opportunities are being created?
Each new exploitation license requires infrastructure development including tailings storage facilities, processing plants, water management systems, access roads, electrical systems, and mechanical installation. The license surge has created a pipeline of immediate EPC opportunities .
What is Darkstone’s track record in mining construction?
Darkstone completed the SAR 105 million Mansourah-Massarah TSF project—the largest in Saudi Arabia—six months ahead of schedule . The company has also signed a Consortium MoU with Sinoma CDI for major gold plant construction .
How is Saudi Arabia supporting mining investors?
Saudi Arabia offers 100% foreign ownership , up to SAR 7.5 million in exploration funding , up to 75% co-funding of capital costs through SIDF , and the National Geological Database providing over 80 years of data .
Conclusion: The License Surge Is the Starting Gun
Saudi Arabia’s mining sector is no longer prospective—it is active. The 144% surge in exploitation licenses is not a one-time event but the visible indicator of a systemic transformation. The Kingdom’s aim to unlock SAR 9.4 trillion in mineral wealth, supported by reformed regulations, record licensing rounds, and global partnerships, has created a sustained EPC demand pipeline.
For EPC firms already in the market, the question is how to scale effectively. For those considering entry, the time to act is now. The license surge has started the clock on a decade of mining infrastructure development in the Kingdom.
Darkstone Arabia has demonstrated its readiness with proven delivery on the SAR 105 million Mansourah-Massarah TSF and a strategic consortium with Sinoma CDI. The license surge is creating opportunities. Darkstone is equipped to deliver on them.
Ready to Discuss Your Mining Infrastructure Project?
Contact Darkstone Arabia to explore how our EPC capabilities can support your mining development.
Head Office: 13223 King Abdullah Rd., Riyadh, Kingdom of Saudi Arabia
Phone: 11 430 0307
Email: info@darkstone.com.sa
