AMAK wins manganese ore exploration license in Al-Baha

Logo of Almasane Alkobra Mining Co. (AMAK)

Almasane Alkobra Mining Co. (AMAK) said it has won a manganese ore exploration license from the Ministry of Industry and Mineral Resources in Al-Baha region for an area of 20.7 square kilometers.

The license, issued on July 1, 2024, is valid until June 30, 2029, the company said in a statement to Tadawul.

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The license number is 144545, issued in accordance with the Mining Investment Law and its executive regulations, the statement added.

AMAK will conduct the necessary studies and exploration work during the statutory period to ensure the availability of the required raw materials.

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

The company will announce any major developments regarding this license, the statement said.