‎AMAK forms consortium to bid for new mining concession

Almasane Alkobra Mining Co. (AMAK) signed an agreement with Asas Mining Co. and Arab Mining Co. Fujairah to form a consortium to participate in the Ministry of Industry and Mineral Resources’ ninth mining competition round, according to a statement to Tadawul.

The consortium aims to study, develop, and exploit mineral resources, including copper, zinc, gold, silver, and lead, at the Nuqrah VMS belt site.

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A joint venture (JV) will be established if the alliance wins the bid, which will be 60% owned by Asas Mining, while the remaining 40% will be equally divided between AMAK and Arab Mining.

Almasane Alkobra Mining Co. (AMAK) signed an agreement with Asas Mining Co. and Arab Mining Co. Fujairah to form a consortium to participate in the Ministry of Industry and Mineral Resources’ ninth mining competition round, according to a statement to Tadawul.

The consortium aims to study, develop, and exploit mineral resources, including copper, zinc, gold, silver, and lead, at the Nuqrah VMS belt site.

A joint venture (JV) will be established if the alliance wins the bid, which will be 60% owned by Asas Mining, while the remaining 40% will be equally divided between AMAK and Arab Mining.