AMAK receives exploration license for Gold, Zinc and Copper from Ministry of Industry and Mineral Resources in Aseer

Almasane Alkobra Mining Company (AMAK) announced the issuance of an exploration license for Gold, Zinc and Copper from the Ministry of Industry and Mineral Resources as following:

License location: Aseer Province – Dhahran Al-Janub.

License No.:14443109.

License Issuance date: 02-01-2023.

License Expiry date: 08-11-2027.

Total Area: 20.67 km2.

The Company added that This license was issued in accordance with the Mining Investment Law issued by Royal Decree No. M/140 dated 19/10/1441 AH and its executive regulations.

The company will carry out the necessary exploratory studies during the statutory period to ensure the availability of the required raw materials. The financial impact value and timing of this license will become clear after the completion of exploration work and studies, and the company will announce any major developments regarding this license.