Kingdom of Saudi Arabia

Overview

Size: 2.25 million km2 - Population: 32.2 million - Currency: Saudi Riyal (SAR) - GDP: US$2.25 Trillion.

Saudi Arabia’s population is primarily concentrated in major Red Sea cities—Jeddah, Mecca, and Medina—as well as the capital, Riyadh.

The Kingdom is easily accessible, with daily international flights to both Riyadh and Jeddah operated by leading global airlines.

Saudi Arabia benefits from a modern, well-developed road network and reliable power infrastructure.

The region hosts more than 1,000 recorded ancient copper and gold workings, highlighting its exceptional mineral potential and largely under-explored opportunity.

Mining Law

• Exploration undertaken via an Exploration Licence, which is granted for initially 5 years, and can be extended for up to 2 additional 5 year periods.

• Mining Licences are granted for up to 60 years (initial term 30 years).

• Royalty rate between 1 and 4.5% depending on the commodity and 10% export duty fees.

• Government percentage of the project is negotiable depending on agreement.

US$182 million Exploration Incentives Program established by the Saudi Government to support mining exploration in the Kingdom and reduce risks facing exploration companies during their early stages.

KSA has a US$2.5 trillion in estimated untapped mineral value, positioning the Kingdom's mineral wealth as more valuable than previously estimated oil wealth. The transformation towards mining is marking a significant turning point for the Saudi Arabian economy.

Projects

Oasis Discoveries is undertaking large-scale regional reviews of datasets to assess the mineral potential of several geological domains.

Following this, the company is looking to apply for licences and is participating in tendering for exploration licences through the various bidding rounds.

In addition, Oasis Discoveries is in discussions with private parties for mineral tenements.