Minister of Mines and Mining Development, Winston Chitando told Reuters there would be "no change" for diamonds and platinum when asked about industry speculation the indigenisation rules could be relaxed further.
Rio's interest in the area has sparked a stampede into adjacent lots by other explorers, who see Rio's aggressive activity as an indicator of a highly promising find.
Mining vast untapped reserves of bauxite, phosphate, gold, copper and uranium is key to the Saudi Arabia's efforts to diversify its economy away from hydrocarbons.
Over its almost 18-year mine life, Santo Domingo is expected to produce an average of 134-million pounds a year of copper, 4.2-million tonnes a year of iron concentrates and 17,000 annual ounces of gold.
On Jan. 1, the London Bullion Market Association will introduce a new version of the guidelines that embrace what’s called environmental, social and governance standards.