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Saudi Miners Amak, Maaden to Exchange Exploration Licenses

MT Newswires·12/09/2025 00:49:58
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12:49 AM EST, 12/09/2025 (MT Newswires) -- Almasane Alkobra Mining Co. (SASE:1322), d/b/a Amak, agreed to exchange a number of exploration licenses with Saudi Arabian Mining Co. (SASE:1211), d/b/a Maaden. Amak said in a Tuesday filing that the exchanges are meant to better align both companies' investment objectives and scale targets. The companies are also planning further cooperation initiatives in exploration and development. The transfers remain subject to a statutory withholding period and the receipt of final regulatory approvals.