AMAK receives gold, silver exploration license from Ministry of Industry

09/11/2022 Argaam

AMAK receives gold, silver exploration license from Ministry of Industry

Logo of Almasane Alkobra Mining Co. (AMAK)

The Ministry of Industry and Mineral Resources issued on Nov. 7 an exploration license for gold and silver for Almasane Alkobra Mining Co. (AMAK) in Al-Dawadmi, Riyadh.

 

In a statement to Tadawul, AMAK said the total area of the license is 82.84 square kilometres (sq km), and it will expire on Sept. 14, 2027.

 

The company will conduct the necessary exploratory studies during the statutory period to ensure the availability of the required raw materials.  

 

The relevant financial impact will be unveiled after the completion of the exploratory works.  

 

Updates will be duly revealed, it added. 

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