Ministry of Industry issues exploration license for AMAK

05/01/2023 Argaam
Logo ofAlmasane Alkobra Mining Co.(AMAK)

Logo of Almasane Alkobra Mining Co. (AMAK)

Ministry of Industry and Mineral Resources issued a new exploration license for Al Masane Al Kobra Mining Co. (AMAK) to prospect for gold, zinc and copper.

 

The new license is in line with Saudi Arabia’s New Mining Investment Law and its executive regulations.

 

Details

Location of License 

Asir Province, Zahran Al Janub

License No.

14443109

Issue Date

Jan. 2, 2023

Expiration Date

Nov. 8, 2027

Total Area

20.67 square kilometers

 

AMAK said it will carry out the relevant studies within the regulatory period to ensure the availability of the raw materials.

 

The relevant financial impact will be determined after finalizing the required studies.

 

Any related material developments will be duly revealed, the statement added.  

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