Mining

The Saudi Arabian Mining Company, known as Ma'aden, is spearheading a massive exploration initiative, marking the largest of its kind globally. This effort aligns with the Kingdom's Vision 2030, aiming to diversify the economy and establish mining as a key industrial sector. In the past two years, Ma'aden has drilled over 820,000 meters for exploration, surpassing international counterparts, according to...

Saudi Arabia's Ministry of Industry and Mineral Resources granted 35 new mining licenses in September, according to the Saudi Press Agency. This included 24 exploration licenses, seven quarry licenses for building materials, three reconnaissance licenses, and one mining exploitation and small mine license. By the end of September 2024, the total number of active licenses reached 2,295. The majority are...

Saudi Arabia's Ministry of Industry and Mineral Resources granted 35 new mining licenses in September, according to the National Center for Industrial and Mining Information. These new permits include 24 for exploration, seven quarry licenses for building materials, three reconnaissance licenses, and one for mining exploitation and small mines. By the end of September 2024, the total number of active...

Saudi Arabia's Ministry of Industry and Mineral Resources issued 35 new mining licenses in September, according to the Saudi Press Agency. These licenses comprised 24 exploration licenses, seven quarry licenses for building materials, three reconnaissance licenses, and one mining exploitation and small mine license. By the end of September, the total number of active mining licenses reached 2,295. The majority...

Mining Industry's Push for Decarbonization and Digital Transformation The metals and mining sector is rapidly advancing towards decarbonization and digital transformation, with 55% of industry leaders focusing on reducing emissions, according to a recent KPMG survey. The 2024 Global Metals and Mining Outlook by KPMG highlights that 47% of industry executives see technology investments as crucial for transforming carbon footprints...

KPMG's 2024 Global Metals and Mining Outlook sheds light on significant trends affecting the metals and mining sector, emphasizing the impact of decarbonization, technological innovations, and geopolitical changes. Insights from over 450 executives, including Bob Wilt of Ma'aden, highlight the sector's focus on sustainability and resilience. The industry is pivoting towards reducing carbon emissions and enhancing efficiency. Notably, 47% of...

Identifying a potential multi-bagger often involves spotting key trends. A company should ideally exhibit two things: a rising return on capital employed (ROCE) and a growing amount of capital employed. This indicates the company has profitable ventures to reinvest in, acting as a compounding machine. The Saudi Arabian Mining Company (Ma'aden) (TADAWUL:1211) is showing promising trends worth exploring further. Understanding...

The Saudi Export-Import Bank (Saudi EXIM) has finalized a $300 million credit facility agreement with Glencore, a leading global commodity firm. This strategic move is designed to bolster Saudi Arabia's non-oil exports, enabling them to reach over 156 international markets. The signing took place with H.E. Khalid bin Saleh Al-Mudaifer, Vice Minister for Mining Affairs, present. Saudi EXIM's CEO, H.E....

Saudi Arabia has granted exploration licenses for six mining sites located in Riyadh, Makkah, and Asir to 11 local companies. This initiative is part of a broader effort to accelerate the exploration of untapped mineral resources in the Kingdom. The designated areas cover a total of 850 square kilometers. Below are the details of the awarded sites: Asir Region: Wadi...

AuKing Mining has successfully obtained an exploration license for the Shaib Marqan area through the Saudi Ministry of Industry and Mineral Resources' licensing process. This site, spanning 91.8 km2, is promising for gold mineralization and remains largely unexplored. Located 100 km from the Al Amar gold mine, which produced nearly 30,000 ounces of gold in 2022, Shaib Marqan represents a...