United Mining wins two exploration licenses from Industry Ministry

24/11/2024 Argaam
Logo ofUnited Mining Industries Co.

Logo of United Mining Industries Co.

United Mining Industries Co. secured two exploration licenses in Madinah for gypsum and anhydrite ore from the Ministry of Industry and Mineral Resources, according to a Tadawul statement.

 

The two licenses were issued on Nov. 19, 2024, and will end on Nov. 18, 2026, for 1,147 sq km and 0.993 sq km, respectively.

 

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The licenses were issued in accordance with the Mining Investment Law issued by royal decree No. M/140 (dated 10/19/1441 AH) and its executive regulations.

 

The company will conduct the necessary studies and exploratory work on the sites during the specified period to ensure the availability of the required raw materials, the statement added.

 

The value and the timing of the related financial impact will be determined after completing studies and exploratory work.

 

The company will duly announce any related updates, the statement added.

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