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AMAK Obtains Quartz Exploration License in Saudi Arabia

One of AMAC’s mining projects (The company’s website)
One of AMAC’s mining projects (The company’s website)
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AMAK Obtains Quartz Exploration License in Saudi Arabia

One of AMAC’s mining projects (The company’s website)
One of AMAC’s mining projects (The company’s website)

Almasane Alkobra Mining Co. (AMAK) has won a quartz exploration license from the Ministry of Industry and Mineral Resources, covering 90.15 square kilometers in the Najran-Aseer province.

In a statement to the Saudi Stock Exchange (Tadawul) on Monday, the company said the license was issued on Aug. 11, 2024 and is valid until Aug. 10, 2029.

It added that the license, which covers a total area of ​​90.15 square kilometers, was issued in accordance with the Mining Investment Law and its executive regulations, indicating that it will conduct the necessary studies and exploratory work on the sites during the regulatory period to ensure the availability of the required raw materials.

The financial impact value and timing of this license will become clear after the completion of exploration work and studies. Any major development regarding this license will be disclosed in a timely manner, AMAK noted.

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Saudi Arabia, Italy Sign MoU to Strengthen Collaboration in Renewable Energy

The MoU focuses on key areas such as energy transitions and security, renewable energy and electricity interconnection. SPA
The MoU focuses on key areas such as energy transitions and security, renewable energy and electricity interconnection. SPA
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Saudi Arabia, Italy Sign MoU to Strengthen Collaboration in Renewable Energy

The MoU focuses on key areas such as energy transitions and security, renewable energy and electricity interconnection. SPA
The MoU focuses on key areas such as energy transitions and security, renewable energy and electricity interconnection. SPA

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz has met in Riyadh with Italian Minister of Environment and Energy Security Gilberto Pichetto Fratin to explore avenues for cooperation across various energy sectors.

The two sides signed on Tuesday a memorandum of understanding (MoU) to strengthen collaboration between Saudi Arabia and Italy, serving their shared interests.

The MoU focuses on key areas such as energy transitions and security, renewable energy, electricity interconnection, energy efficiency, geothermal energy, methane emissions reduction, advancing energy storage solutions, petroleum, natural gas, and conventional and transitional fuels.

It also addresses enhancing the stability and reliability of petroleum and natural-gas markets, reducing market volatility, and improving energy supply security and supply chains.
The agreement highlights innovation and technology, such as hydrogen project development, climate-change mitigation solutions, the circular carbon economy, and carbon capture, utilization, and storage. Additionally, it emphasizes digital transformation, cybersecurity, and artificial intelligence in the energy sector while fostering joint initiatives to support engineering and construction projects in energy. These efforts align with the Paris Agreement and the 2030 Agenda for Sustainable Development.