AMAK secures 3 mining exploration licences in Riyadh, Makkah
Al Masane Al Kobra Mining Company (AMAK) has officially secured exploration licenses for base and precious metals at the Jabal Ad Dimah, Jabal Al Klah North, and Jabal Al Klah South sites.
Jabal Ad Dimah site includes three licenses in the Makkah region, covering a total area of 210.75 sq km. The site is rich in copper, zinc and gold.
Jabal Al Klah North site in the Riyadh region spans 98.21 sq km, with zinc, lead and silver deposits.
Jabal Al Klah South in the Riyadh region covers 19.22 sq km, rich in lead, silver and zinc.
The licenses were granted in line with the Mining Investment Law, the company said in a statement to the Saudi stock exchange on Wednesday.
AMAK will conduct the required exploration studies within the statutory time to assess the economic feasibility of the targeted minerals.
Jabal Al Klah North and South licenses are located near the Radeniah East exploration license in the Riyadh region, covering a combined area of 82.84 sq km.
The financial impact and timeline for these licenses will be determined upon completion of the studies and exploration work, the statement said.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
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