Tag: Gold

Riyadh: Alkobra Mining Company (AMAK), one of Saudi Arabia’s prominent mining operators, has announced the identification of nearly 11 million tonnes of potentially economic mineral resources within one of its exploration licences in the Najran region. The resources include gold, copper, zinc, and silver ores, according to disclosures posted on the Saudi Stock Exchange (Tadawul) and the company’s official LinkedIn page. AMAK began fieldwork immediately after receiving the exploration licence in September 2024. A major drilling campaign, launched in February 2025, has so far covered less than 10% of the licensed area, with over 27,000 metres drilled. Early assessments, the company said, point to strong potential for further resource expansion as work continues. In an interview with Al Arabiya Business, AMAK CEO Jeffrey MacDonald-Day said the discovery supports the company’s long-term growth plans and strengthens its role within the Kingdom’s expanding mining sector. He stated, “We have started exploring a small part of these resources, and this confirms that the resources will continue to increase to reach about 20 million tonnes. This also confirms our investment plan and gives sustainability to our operations in the near and distant future as well.” MacDonald-Day added that anticipated resource growth will drive new investment and the expansion of AMAK’s processing facilities, significantly increasing production capacity. With only a fraction of the site explored, he noted “substantial opportunities” to further advance development and uncover additional mineralised zones. The exploration site is located about 100 kilometres from AMAK’s existing processing complex, allowing the company to leverage shared infrastructure and improve long-term operational efficiency. Also Read | Saudi Arabia abolishes 50-Year-Old Kafala System AMAK’s announcement comes as the global mining sector faces rising costs, regulatory pressures, and commodity market volatility. Despite these global challenges, Saudi Arabia continues to accelerate investment in mining as part of Vision 2030, positioning the sector as a key engine of economic diversification, according to recent analysis by S&P. New Gold Mining Licence Granted In a separate statement issued on Sunday, November 30, AMAK confirmed it has received a 10-year mining exploitation licence for the Katina gold site in Najran from the Ministry of Industry and Mineral Resources. The licence spans 9.84 square kilometres and focuses on the extraction of gold ore—an expansion the company says aligns with its growth strategy and supports Saudi Arabia’s rapidly developing mining industry. Next Steps AMAK plans further geophysical studies and additional drilling through 2026. A JORC-compliant mineral resources report is expected in the second half of the year. The company has also initiated work to upgrade its current exploration licence into a full mining licence, with findings anticipated next year. Founded in 2008 and listed on Tadawul, AMAK is regarded as one of Saudi Arabia’s leading mining firms, licensed and regulated by the Ministry of Industry and Mineral Resources.

Tag: Gold

Saudi Arabia’s AMAK Confirms discovery of 11 Million tonnes of Mineral Resources in Najran

Saudi Arabia discovers major Gold reserves in Makkah region

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Saudi Arabia’s AMAK Confirms discovery of 11 Million tonnes of Mineral Resources in Najran

Saudi Arabia discovers major Gold reserves in Makkah region

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