Saudi Arabia’s Ministry of Industry and Mineral Resources has announced an auction for 13 mining licences in the limestone blocks complex in Hufairat Nisah, Riyadh region.
The auction process and documentation will be via “Tadeen” platform. It will start with a qualification round based on the conditions laid in the main auction document.
The ministry has invited applicants to submit their official qualification documents through Tadeen from April 13. By holding a public auction process, the ministry aims to create a fair environment for bidders, reach out to a high number of mining investors and promote national industries in line with the Saudi Vision 2030 objectives, stated the report, citing the ministry.
The ministry has put regulations and procedures that take into account environmental and social impacts of mining activities and rehabilitation of the environment in and surrounding mining sites after termination of activities. Existing regulations ought to be in line with international standards and practices, it added.
