Royal Road Minerals, through its 50% stake in the joint venture Royal Road Arabia, has triumphed in a highly competitive bidding round, securing the Al-Miyah copper and gold exploration area located in Saudi Arabia. This area is composed of three adjacent exploration licenses in the Asir Province, approximately 150 km northwest of Royal Road’s existing Jabal Sahabiyah project.
Royal Road Arabia is a collaboration between Royal Road and MIDU Company Limited, each holding an equal share. MIDU, based in Jeddah, is an investment company with a diverse portfolio including mining, industry, property development, and utility services.
The exploration licenses span around 234 square kilometers and include historically recognized copper and gold sites within the Nabitah-Tathlith belt’s meta-volcanic and intrusive rocks dating back to the upper Proterozoic era.
Dr. Tim Coughlin, President and CEO of Royal Road, commented on the significance of the acquisition, noting the substantial progress in exploration geology and commodity focus since the last studies conducted 45 years ago. He highlighted the prospects for immediate copper and gold extraction at both historical and newly discovered sites across the licensed territory. Dr. Coughlin also praised Saudi Arabia for its visionary and proactive stance in promoting the mining sector, as well as for its innovative financial support mechanisms.
Mr. Tareq Telmesani, CEO of MIDU and Chairman of Royal Road Arabia, expressed gratitude for the awarded opportunity and eagerness to initiate the Al-Miyah project. He reaffirmed MIDU’s commitment to leveraging their full capabilities to advance Saudi Arabia’s Vision 2030 and to become a key contributor to the Kingdom’s mining industry.
