We are pleased at Ajlan & Bros Mining Company to announce the signing of a strategic partnership agreement with Gold and Minerals Company, represented by Mr.Ajlan bin Abdulaziz AlAjlan, Chairman of the Board of Ajlan & Bros Holding Group, and Mr. Sulaiman Bin Abulrahman Al Rashid, Chairman of the Board of Gold and Minerals Company, to undertake gold exploration, extraction, and processing in the Al- Duwaihi Belt (ND26), as a step toward advancing the mining sector in the Kingdom of Saudi Arabia.
 
The project is part of the Ministry of Industry and Mineral Resources’ Round 9 licensing program and spans an area of approximately 74.96 km², located south of the Al- Duwaihi mine, with an investment of around USD 300 million, reflecting the site’s strong economic potential.
 
Under the agreement, both parties will contribute 50% of all costs within a comprehensive work program that includes resource development, metallurgical testing, and engineering studies, aimed at accelerating progress toward advanced stages leading to production.
 
Geological data indicates mineralization extending over 3.4 km, with a targrted resource of between 400,000 and 1.5 million ounces of gold, enhancing the project’s economic viability.
 
We also look forward, through this project, to contributing to local development by creating approximately 1,200 direct and indirect job opportunities, in addition to implementing community engagement programs that support the surrounding communities.