Saudi mining company AMAK obtains license to search for gold...| MENAFN.COM

Thursday, 02 February 2023 09:01 GMT

Saudi mining company AMAK obtains license to search for gold in Kingdom's Asir area


(MENAFN) Saudi Arabia’s Ministry of Industry and Mineral Resources has released a gold exploration license to Al Masane Al Kobra Mining Co., also recognized as AMAK, as said by an announcement from Tadawul.

AMAK is going to have an exploration license to explore for gold in the nation’s Asir area, which covers an zone of 34 square kilometers.

The license is active up till the 24th of November, 2027, this comes along with the additional Mining Investment Law as well as its executive regulations, it added.

In the announcement, AMAK asserted that it is going to apply the needed exploratory trainings throughout the legal timespan to guarantee the accessibility of the needed raw materials.

The economic effect worth and timing of this license is going to become visible following the finishing point of exploration work and studies, the announcement continued. AMAK additionally mentioned that any associated material developments are going to be duly revealed.

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