Royal Road wins bin for Saudi Arabia copper-gold tender
Published by Jane Bentham,
Editorial Assistant
Global Mining Review,
Royal Road Minerals has announced that its 50% owned Saudi Arabian joint-venture company Royal Road Arabia, has been selected as the winning bidder, as part of a competitive licencing round, for the Al-Miyah copper and gold tender area.
This tender area consists of three contiguous exploration licences, located in the Asir Province of the Kingdom of Saudi Arabia, 150 km northwest of the company’s Jabal Sahabiyah exploration licences.
Royal Road Arabia is a Saudi Arabian joint-venture company owned on a 50-50% partnership basis by Royal Road and MIDU Company Limited. MIDU is a Saudi Arabian investment holding company, headquartered in Jeddah, with interests across various sectors including mining, industrial, real estate development, and utilities.
The Al Miyah exploration licences are contiguous and cover approximately 234 km2 of historic known copper and gold occurrences, hosted in upper Proterozoic age meta-volcanic and intrusive rocks within the prospective Nabitah-Tathlith belt.
Dr. Tim Coughlin, Royal Road’s President and CEO, stated: “It’s been 45-years since exploration work was conducted at Al-Miyah. Commodity focus and our understanding of exploration geology has changed profoundly since then. Our team have identified immediate copper and gold potential at known historic occurrences and at new prospects throughout the licence areas. Saudi Arabia’s vision and proactive support for the mining sector is unparalleled as clearly evidenced by its innovative financial assistance schemes. It is a privilege for our organisation to be at the forefront of mineral exploration in the Kingdom at this exciting transformative time”
Mr. Tareq Telmesani, CEO of MIDU and Chairman of Royal Road Arabia added: “We are grateful to the MIMR for granting us this opportunity and eager to commence work at Al-Miyah. We will continue to utilise all of our resources and expertise to support Saudi Arabia’s Vision 2030 and ensure we are an integral part of the mining sector in the Kingdom.”
Read the article online at: https://www.globalminingreview.com/mining/05072024/royal-road-wins-bin-for-saudi-arabia-copper-gold-tender/
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