RIYADH: Saudi Arabia has launched a competitive bid for seven new mining exploration licenses, covering an area of approximately 1,000 sq. km. Announced on Aug. 7 by the Ministry of Industry and Mineral Resources, this initiative seeks to attract both local and international investors to explore these promising sites. The exploration sites span various regions and are rich in valuable minerals. The Umm Qasr site in Riyadh, covering over 20 sq. km., is known for its deposits of gold, silver, lead, and zinc.