My Aden is overseeing the biggest budget exploration of the history of the Saudi mining industry

Expenditures of 253 million Saudi Riyals were approved in 2019

The Saudi Mining Company (Ma & aden) today announced the allocation of the largest mining exploration budget in the history of Saudi mining to strengthen its contribution to the realization of the vision of Kingdom for the mining industry by 2030, increasing the contribution of the mining sector to GDP and creating thousands of job opportunities.

Ma & # 39; Aden spent 253 million Saudi Riyals ($ 67 million) in 2019 on exploration activities under licenses previously obtained in remote and promising areas in several parts of the Kingdom, more than three times the average annual expenditure on exploration and exploration. Past.

"Maaden is embarking on its activities, including exploration, through an integrated strategy including key themes, in which a set of targeted initiatives and programs will be based on training and qualification of national human resources, as well as on improving the effectiveness of programs, "said Darren Davis, President and Chief Executive Officer. In addition to its own philosophy of integrating its activities from natural mineral resources to the final product, with quality and diversity that support the development of domestic industries and are exported to the world. "My Aden studies local and global opportunities, his investment career.

Mr. Davids added that strengthening exploration activity at Ma'Aden at this stage reinforces his efforts to lead the sustainable mining industry on the basis of great resources and mineral potentials. of the Kingdom. "My aden, while working diligently to increase its production in precious metals, is working to reach the level of production of a million ounces of gold a year, focusing on its growth strategy in various mining activities, including base metals and industrial minerals, to ensure the achievement of Ma & aden goals and the aspirations of its shareholders. "Put before that a major goal that will be a major contributor to the Vision 2030.

Maaden's Vice President of Exploration, Emad Bin Mahmoud Al Saadawi, said that Ma 'aden's success in the field of exploration had recently given rise to several new mining projects, including the development of new gold mines at the Mansoura and Al Masra sites, as well as geological work carried out. On an area of ​​40 thousand square kilometers as part of exploration and exploration licenses.

Al-Saadawi noted that because of the long time that separated exploration and mining, Ma'Aden had embarked on the implementation of the accelerated initiative known as Ma Metronome Program for Mineral Exploration, which aimed to evaluate all objectives before the expiry of mineral exploitation permits and to allow the completion of studies of feasibility. Before continuing the development of the mines and its plant, he stressed that besides the considerable efforts made by Ma'Aden to develop its activities in the field of gold in the Kingdom, Ma & # 39; aden continues to evaluate and add value to the Kingdom's phosphate resources, and magnesium, by supporting the creation of new integrated mines and mills, which at the same time meet the needs of manufacturing industries.

At the same time, Ma & aden has reached its maximum production capacity at the Al-Duwaihi mine and factory, the largest mining production plant in the world. The kingdom's gold and most important of the region, as well as the mine and the factory of Mount Saide for copper production.

Engineer Khalid Bin Sulaiman Al Ohali, Maaden's Vice President for Strategic Relations, confirmed that the launch of Ma's largest exploration budget confirmed its efforts to increase its contribution to the construction of the mining sector as the third pillar of Saudi industry. That deals with all the components of the sector.

Al-Ohali said Ma's strategy of 2025 as a global mining giant has created a broad-based professional framework for realizing the current and future aspirations of Ma & aden thanks to the operational, commercial and financial excellence of a sustainable approach focused on local growth while strengthening the Maaden World Center.

Al-Ohali added that Ma'Aden plays a major role in contributing to shareholder aspirations and national development goals by creating jobs and partnerships, contributing to GDP, helping to empower industries national manufacturers and the fulfillment of the aspirations of stakeholders.