Rinehart broadens mining horizons to Saudi Arabia gold hunt

The West Australian01-18

Australian billionaire Gina Rinehart has lauded Saudi Arabia’s “pro-mining policies” after winning a bid for five licences to explore for gold in the Middle Eastern kingdom alongside its biggest miner...

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horizons to Saudi Arabia gold hunt\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-01-18 08:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thewest.com.au/business/mining/billionaire-gina-rinehart-broadens-mining-horizons-with-licence-wins-for-saudi-arabian-gold-hunt--c-21346090><strong>The West Australian</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Australian billionaire Gina Rinehart has lauded Saudi Arabia’s “pro-mining policies” after winning a bid for five licences to explore for gold in the Middle Eastern kingdom alongside its biggest miner...</p>\n\n<a href=\"https://thewest.com.au/business/mining/billionaire-gina-rinehart-broadens-mining-horizons-with-licence-wins-for-saudi-arabian-gold-hunt--c-21346090\">Source 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Kingdom’s ambition to build a world leading mining industry outlined in its ‘Vision 2030’ and well reflected in its pro-mining policies,” Mrs Rinehart said in a statement on Sunday.Under the joint venture formed in December, Hancock and Maaden have agreed to hunt for more of the rallying precious metal in the Nabita Ad-Duwayhi gold belt on land believed to be adjacent to one of the Saudi company’s existing gold mines.After relying on its oil riches for decades, Saudi Arabia has big ambitions to make mining a bigger industry and says the sector will be a “key pillar” of its national growth strategy, Vision 2030.Hancock has similarly made efforts to broaden out its portfolio from just iron ore, by ploughing huge investments into rare earths through stakes in MP Materials and Lynas Rare Earths, as well as lithium, through Liontown Resources and Vulcan Energy Resources.Record-breaking gold prices over the past 12 months have driven huge new interest in the precious metal.“Our company brings substantial experience across exploration, project development and operations, including the rare distinction of building the US$10 billion Roy Hill project both on time and on budget, a mega project built successfully in record time and including some of the world’s largest mining equipment,” Mrs Rinehart said.The Hancock-Maaden JV is believed to be the first time an Australian business has partnered with Saudi Arabia’s fast-growing State-owned mining company.Maaden chief executive Bob Wilt said the multi-commodity miner had been “actively ramping up our exploration efforts across the Kingdom”.“Working in partnership with Hancock, this program will speed up discovery. It also ensures we can build, develop and operate at pace and scale, all while developing a talent pipeline and a global mineral hub,” he said. updated updatedCEOsPremium updatedCCIWA picks RAC executive to lead top business lobby Simone GroganCopperAmazon a first-taker for Rio’s new copper ventureSimone Grogan","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.0","shortVersion":"4.36.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2604204529","isCrawlerRequest":true}