AMAK wins exploration license for manganese, copper, nickel in Al-Baha

12/12/2024 Argaam
Logo ofAlmasane Alkobra Mining Co. (AMAK)

Logo of Almasane Alkobra Mining Co. (AMAK)

Almasane Alkobra Mining Co. (AMAK) announced the issuance of an exploration license for chromium, manganese, copper and nickel in Al-Baha region from the Ministry of Industry and Mineral Resources. 

 

The license  was issued on Dec. 11, 2024, and is valid until Dec. 10, 2029, the company said in a statement to Tadawul. The total exploration area is 91.76 square kilometers.

 

This license was issued in accordance with the Mining Investment Law issued by Royal Decree No. M/140 dated 19/10/1441 AH and its executive regulations, the statement added.

 

AMAK will carry out the necessary exploration studies during the statutory period to ensure the availability of the required raw materials.

 

The value and timing of the financial impact from license will become clear after the completion of exploration work and studies within the legal period, and the company will announce any major developments regarding this license, AMAK stated.

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