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28/05/2024
Mining News

AuKing Mining expands reach to Saudi Arabia’s mining sector

AuKing Mining, known for its ventures in remote regions such as Western Australia (WA), Chile, and Laos, is now venturing into a new territory: the Kingdom of Saudi Arabia. While the company maintains its focus on multiple landholdings in Tanzania and WA, it has set its sights on Saudi Arabia through a partnership with Barg Alsaman Mining Company (BSMC), a local entity in the region.

This move comes as Saudi Arabia launches its 5th landholding auction round, part of its strategic plan to diversify its economy beyond oil by boosting the domestic mining sector. The auctions, termed as “tenders” by AuKing Mining, align with the Kingdom’s 2030 strategy.

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BSMC, a subsidiary of Segia Gulf Group, known for its involvement in various government projects in Saudi Arabia, is poised to collaborate with AuKing Mining in this endeavor.

According to Paul Williams, CEO of AuKing Mining, the 5th Licensing Round offers six project license areas covering approximately 750 square kilometers in the western region of the Kingdom. These areas are deemed prospective for polymetal mineralization, including gold, copper, and other base metals, within the Arabian Shield geological region.

Sheikh Abdullah Al-Qahtani, chief of Segia Gulf Group, views this partnership as a significant opportunity. He highlights the potential of the projects in gold, silver, copper, and associated minerals, emphasizing the new challenge undertaken by Barg Alsaman Mining Company in collaboration with ASX-listed AuKing Mining.

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