AMAK clarifies on winning 3 exploration licenses in 7th competition round

09:07 AM (Mecca time) Argaam
Logo ofAlmasane Alkobra Mining Co. (AMAK)

Logo of Almasane Alkobra Mining Co. (AMAK) 

Almasane Alkobra Mining Co. (AMAK) announced winning three exploration licenses in the seventh round of mining competitions held by the Ministry of Industry and Mineral Resources.

 

AMAK’s New Licenses

License

Minerals

Site

Total Area (km2)

Jabal Al Dimah

Copper, gold and zinc

Makkah Region

210.90

Jabal Al Klah - North

Silver, lead and zinc

Riyadh Region

98.15

Jabal Al Klah - South

Silver, lead and zinc

Riyadh Region

9.21
 
In a statement to Tadawul, AMAK explained that Jabal Al Klah North and South exploration sites are near the Radeniah East site, owned by the company in the Riyadh Region. It spans a total area of 82.84 sq km.
 
 

The necessary exploration studies will be conducted during the statutory period to ensure the availability of the required raw materials.

 

The value and timing of the relevant financial impact will become clear after completing exploration works and studies within the specified period.

 

The company will duly announce any updates regarding this license.

 

The Ministry of Industry and Mineral Resources revealed winners of exploration licenses in six mining sites across Riyadh and Makkah, as part of the seventh round of mining competitions, Argaam reported on Jan. 14.

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