AuKing Mining (ASX:AKN) teams up with Barg Alsaman for Saudi Arabia's 5th licensing round
AuKing Mining has teamed up with Barg Alsaman Mining for Saudi Arabia's fifth licensing round, targeting gold, silver, and copper-rich projects in the Arabian Shield region.
CEO Paul Williams is optimistic about the partnership's prospects in the bidding process, set to close in early May, with government awards anticipated on May 23.
The collaboration aligns with Saudi Arabia's Vision 2030 to diversify its economy and develop its mining sector, leveraging the new law effective in 2021.
The law aims to tap into the Kingdom’s mineral wealth, create jobs, and significantly reduce imports by 2030.
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