Saudi’s Al Masane Al Kobra Mining Co. (AMAK) announced that the Ministry of Industry and Mineral Resources has awarded it four exploration licenses for copper and gold in Al-Dawadmi, Riyadh.

The company will conduct the necessary exploratory studies during the statutory period to ensure the availability of the required raw materials, it said in a statement to the Saudi stock exchange.

The total area of the licenses is 396.10 square kilometres (sq km). The licenses will expire on 6 July 2027.

AMAK is among the 13 prequalified bidders for the Umm Ad Damar exploration license, Zawya Projects reported earlier.

The site covers an area of more than 40 sq km and includes copper, zinc, gold and silver deposits.