Bandar Al-Khorayef, Minister of Industry and Mineral Resources, launched the “Nathri” exploration incubator initiative to empower emerging explorers in the mining exploration sector from individuals and local companies, with the aim of creating a sustainable local exploration environment to develop the Kingdom’s wealth sites to become an entry point for promising industries, in cooperation with the Geological Survey and the General Authority for Small Enterprises. and intermediate “installations”.
Jarrah bin Muhammad Al-Jarrah, the official spokesman for the Ministry of Industry and Mineral Resources, explained that the incubator aims to develop the skills of emerging explorers, employ their capabilities, and support them with enablers, which ensure sustainability in the mining exploration sector by promoting investment in the field of exploration, and the transfer and exchange of knowledge and experience between the leading companies in the sector. Mining, and building sustainable strategic partnerships.
He stressed the importance of enabling entrepreneurship in mineral exploration locally from a regulatory perspective, financing and supporting it with the appropriate infrastructure to enhance its business and drive economic growth in the sector, pointing out that the initiative is in line with the goals of the Kingdom’s Vision 2030 and the National Industry Development Program and Logistics Services to make the mining sector the third pillar of national industries. Supporting the incubation of a number of national startups and emerging explorers to be a component in building the future of their country, and promoting local investment in the field of mining exploration.
Al-Jarrah indicated that the initiative targets locally students and researchers (academics), small and medium-sized companies applying for an exploration license, startups in the field of exploration, and investors interested in the mining sector. The incubator will provide a range of services to support startups, including: It analyzes geological data and helps them obtain exploration licenses.
This is in addition to providing intensive courses and training workshops in the fields of earth sciences, and conducting activities and dialogue sessions with experts and specialists in the field of mineral exploration, laboratory services, sample analyzes and geophysical cadastral lifts for metal detection in particular, as well as preserving diamond drilling samples, in addition to guidance and guidance throughout the period. Initiative program and provision of office space to practice their business.
The name of the initiative “Nathri” refers to the importance of optimizing the mineral resources in the Kingdom in more than 5,300 sites, with an estimated value of five trillion riyals.