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Almasane Alkobra Mining Company (AMAK) is pleased to announce that it has won two Exploration Licenses from Round 5 of Ministry of Industry and Mineral Resources Bidding Round. Al-Hjira and Jabal Qaran are Strategic base metals and precious metals Exploration Licenses.
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| Announcement Detail | Almasane Alkobra Mining Company (AMAK) is pleased to announce winning the Mining Bids held by the Ministry of Industry and Mineral Resources for two exploration licenses for base metals and precious metals, as following: 1) The Mining Bid for the exploration license of Al-Hijra Ore Type: Zinc, Copper, Lead, Gold, and Silver. License Location: Aseer Region. License Area: 274 km2 2) The Mining Bid for the exploration license of Jabal Qaran Ore Type: Copper, Lead, and Gold. License Location: Najran Region. License Area: 57.72 km2 It is worth noting that the location of Al-Hijra exploration license is beside (Almasane West) exploration license owned by the company and near the current mining license (AlMasane Mine) from which base metals (zinc, copper) and precious metals (gold, silver) are extracted, with a total area of (42.47) km². The location of Jabal Qarn exploration license is near the (Kutam) exploration license owned by the company, which has a total area of (20.67) km². The company will carry out the necessary exploration 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 within the legal period, and the company will announce any major developments regarding this license. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 69.5
Net Change 0.6 (+0.87%)
Value Traded (Sar) 30,677,576
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