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Ajlan & Bros Group is contributing to making the mining and metal sector the third pillar of industry in Saudi Arabia. Investments have positive impact on Saudi society and positive contribution to the economy as per Vision 2030.
The Group will invest $13 Billion with the National Industrial Development and Logistics Program (NIDLP) over the next ten years and the cooperation agreement was signed under the patronage and presence of the Minister of Industry and Mineral Resources, H.E. Bandar bin Ibrahim Alkhorayef, Chairman of the Program Committee, and Mohamed bin Abdulaziz Alajlan, Deputy Chairman of Ajlan & Bros Group.
The Holding has already signed multiple JVs with the world’s leading players in the Mining and Metals sectors and continues to attract foreign direct investment.
Khnaiguiyah & Moxico
Khnaiguiyah Zinc Project is an advanced stage Zinc and Copper project located 170km west of Riyadh. Ajlan-Moxico Consortium’s bid of US$ 73 million, in the first-ever multi-round auction for a Saudi mining license, was recently announced as the winning bid for Khnaiguiyah. The consortium is progressing with the project and engaging with local communities and beginning the construction and development of mining operations.
Precious Metals & Valcambi
Valcambi and Ajlan & Bros Mining is building a state-of-the-art refining facility in Saudi Arabia for precious metals and Platinum Group Metals (platinum, palladium, rhodium and iridium) with capacity of 250 tons per annum.
Mining Cooperation & ChiefingJelong
Ajlan Mining and Chiefing Jelong have started exploring for gold and associated minerals on several licenses within the Kingdom, as well as considering additional mineral applications.
SRN Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
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