Almasane Alkobra Mining Company (AMAK) has launched a strategic growth plan until 2025, which includes bidding for new exploration licenses and expanding production capacities to strengthen its position in the regional mining industry. 

The key aspects of the strategy include the development of the Khutainah project for gold production and expanding gold deposits at nearby sites, including Sukari 1, 2, and Alaqiq, the company said in a statement to the Saudi stock exchange on Monday.

AMAK plans to enhance operational efficiency, infrastructure, and initiate underground mining at the Guyan gold mine.

The company will begin iron oxide production at the Nuham site within three months of receiving its final mining license. AMAK will establish a new drilling and exploration company to support its future growth.

The company will build new facilities to increase the storage capacity for dry tailings using safe, sustainable, and environmentally friendly methods.

AMAK will also strengthen its portfolio by acquiring additional exploration licenses for promising base and precious metal sites.

The company will expand activities to include the exploration and mining of industrial minerals.

In a move towards sustainability, AMAK has started connecting its facilities to the national electricity grid, aiming to reduce carbon emissions and enhance operational efficiency.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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