Hancock Exploration has obtained five exploration licences in Saudi Arabia to explore the Nabita Ad-Duwayhi Gold-Belt.
Hancock and Saudi Arabian Mining Company (Maaden) have entered into a joint venture to conduct exploration, development, mining, sales and marketing of minerals in licensed areas in the Kingdom of Saudi Arabia.
Gina Rinehart, Executive Chairman of Hancock said: “Our company group brings substantial experience across exploration, project development and operations, including the rare distinction of building the US$10 billion mega Roy 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.
“In Australia, we strive to be the best mining company. We will also be working in Saudi Arabia with great enthusiasm.”
Bob Wilt, CEO of Maaden, said:“We have 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.”
