Saudi Arabia launches bidding for 13,000 sq km mineral exploration licences

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Saudi Arabia launches bidding for 13,000 sq km mineral exploration licences
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The Saudi kingdom accelerates efforts to tap deposits estimated at 9.4 trillion riyals ($2.50 trillion).

Saudi Arabia opened a bidding round for three mineral exploration licences across a 13,000 square km area, the Industry and Mineral Resources Ministry said in a statement on Monday, as the kingdom accelerates efforts to tap deposits estimated at 9.

4 trillion riyals . The licences cover newly defined belts in the regions of Madinah, Makkah, Riyadh, Qassim and Hail, including areas prospective for gold, silver, copper, zinc and lead.US moves to deepen critical minerals supply chain in AI race with China Initiative begins with a meeting at the White House on Dec. 12 with counterparts from Japan, South Korea, Singapore, the Netherlands, the UK, Israel, the United Arab Emirates and Australia.Ivanhoe Mines fires up Africa’s largest copper smelter Ivanhoe expects to feed its first concentrate into the smelter by year-end, kickstarting the production of 99.7%-pure blister copper anodes.The company expects the payment to total $24 million, which would be the first revenue generated by its Malian subsidiary.

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