AMAK receives 4 copper, gold exploration licenses from Ministry of Industry

Logo of Al Masane Al Kobra Mining Co.

Al Masane Al Kobra Mining Co. (AMAK) stated that the Ministry of Industry and Mineral Resources issued, on Aug. 29, four exploration licenses for copper and gold, according to a bourse statement.

The licenses will expire on July 6, 2027, the company said, adding that the location of the licenses is Al-Dawadmi, Riyadh.

The total area of the licenses is 396.1 square kilometers.

The company will conduct the necessary exploratory studies during the statutory period to ensure the availability of the required raw materials.

The financial impact and timing of the licenses will be determined after completing the exploration work and studies.

AMAK will announce any major relevant developments in due course.