12 Aug 2022

Saudi Maaden, AMAK, Vedanta among qualified bidders for Umm Ad Damar exploration license

Saudi Maaden, AMAK and Vedanta are among 13 qualified bidders in the pre-qualification stage for a license at Umm Ad Damar mining site, the Saudi Ministry of Industry and Mineral Resources has announced.

The site is located in the Madinah region in Mahd Adh Dhahab Governorate, and is presented to local and international investors.

Other eligible bidders include African Rainbow Metals Co, Abdulrahman Saad Al-Rashed & Sons Co, Barrick Gold, and ERG Arabia, and an alliance between Moshico Resources, Ajlan & Bros Mining Co, Yallmaden Limited, Yancol Australia Limited, UDS Golden Group, Saudi Alara Ventures, and Noreen Mining.

The ministry added that the announcement of qualified bidders marks the end of the first phase of the bidding process, to obtain a license to inspect the Umm Ad Damar site. 

It will also hold a workshop this month for qualified bidders to clarify more details about the upcoming stages.