Major Mining Industries Company (AMAC), a leading company in the Saudi mining sector, announced a new milestone in its track record, having obtained a mining license from the Ministry of Industry and Mineral Resources to extract gold ore from the promising “Katina” site in the Najran region. This development represents a significant strategic step that aligns with the company’s expansion plans and the Kingdom’s economic ambitions.
According to the official statement published by the company on the Saudi Stock Exchange (Tadawul), the new license is valid for ten years and covers a total area of 9.84 square kilometers. This license was issued in accordance with the Mining Investment Law issued by Royal Decree No. M/140, which aims to develop the sector and create an attractive and stimulating investment environment that contributes to the exploitation of the Kingdom's vast mineral resources.
A strong boost to the goals of Vision 2030
This announcement comes within a broader context aligned with the goals of Saudi Vision 2030, which seeks to diversify the economic base and reduce dependence on oil. The mining sector is the third pillar of Saudi industry after oil and petrochemicals, and the Kingdom aims to become a leading global mining hub thanks to its vast mineral wealth, particularly in the Arabian Shield region, which is rich in precious metals such as gold, copper, and zinc.
Strategic importance and operational integration
This license holds particular strategic importance for AMAC, as the Katina mine is located adjacent to the company's Qiyan mine. This geographical proximity will enable the company to achieve significant operational integration, contributing to a substantial reduction in capital and operating costs. By utilizing shared infrastructure, such as the processing plant and logistics facilities, AMAC will be able to maximize the efficiency of its operations and increase the added value of its projects, thereby enhancing the long-term sustainability and profitability of its operations.
Expected economic and social impact
The project, expected to commence mining operations in the first quarter of 2026, is anticipated to have significant positive economic impacts. Locally, the new mine will create direct and indirect employment opportunities for residents of the Najran region and support the growth of local small and medium-sized enterprises (SMEs) that provide services to the mining sector. Nationally, the start of production will increase the Kingdom's gold output, boost its non-oil revenues, solidify its position as a key player in the global metals market, and underscore the success of the government's efforts to attract high-quality investments to this vital sector.
