AMAK gets gold exploration license for Asir

Logo of Almasane Alkobra Mining Co. (AMAK)

The Ministry of Industry and Mineral Resources issued on Jan. 18 a new exploration license to Al Masane Al Kobra Mining Co. (AMAK) to prospect for gold, according to a statement to Tadawul. 

 

The license is valid until Nov. 24, 2027, and covers an area of 34 square kilometers in Asir region. It is in line with the new Mining Investment Law and its executive regulations.

 

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