Saudi Arabia awards Moxico Resources and Ajlan & Bros Khnaighuiyah mining licence

King Salman bin Abdulaziz Al Saud of Saudi Arabia. Photo by, creative commons.

The Moxico Resources PLC and Ajlan & Bros Mining Company consortium won the licence for exploration of Saudi Arabia’s Khnaighuiyah mines, where zinc and copper deposits are estimated around 26 million tonnes, the kingdom’s Ministry of Industry and Mineral Resources said on Wednesday.

The ministry awarded the licence for 255.6 million riyals ($68 million) after a four-day electronic auction.

($1 = 3.7575 riyals)

(By Aya Nader; Editing by Tomasz Janowski and David Goodman)


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