Ministry of Industry and Mineral Resources, Saudi Arabia announced that the consortium of Ajlan & Bros Mining Company (Saudi Arabia) and  Moxico Resources PLC (UK) emerged as the winner of the electronic multi round auction for Khnaiguiyah exploration license, the largest in the Kingdom.

Khnaiguiyah is Spread over an area of 353.8 square kilometres west of Riyadh in Al Quwaiiyah governorate.

The final value of the winning bid amounted to SAR 255,556,000

The Khnaigiuyah site’s mining potential is estimated at approximately 25 million tonnes of Zinc and Copper ores at 4.11 percent zinc and 0.56 percent of copper.