Al Masane Al Kobra Mining Co., also known as AMAK will have an exploration license to prospect for gold in the Kingdom’s Asir region, which covers an area of 34 square kilometers.
AMAK said that it will carry out the necessary exploratory studies during the statutory period to ensure the availability of the required raw materials.
The mining sector in Saudi Arabia is one of the key pillars of the Kingdom’s economic diversification efforts.
Saudi Arabia is on both sides, supply, and demand. The Kingdom is witnessing a spur in private sector companies entering the mining sector, post the introduction of the new law.
More importantly, the appetite of the private sector to join the mining industry.
The appetite and the real opportunity they are seeing in this sector. Mining has never been as popular as it is now.