AMAK Unlocks New Gold Resources with Khutainah Mine Launch - Expands Footprint with Strategic Gold Mining License
Almasane Alkobra Mining Company (AMAK) has marked another milestone in its growth journey with the launch of the Khutainah Gold Mine in Najran Province, following the successful issuance of a new 10-year mining license by the Ministry of Industry and Mineral Resources.
The license, which covers approximately 10 km², demonstrates AMAK’s ongoing commitment to strengthening to the Kingdom’s fast-growing mining sector under Vision 2030. The Khutainah mine adds to AMAK’s gold ore inventory supporting sustainable production from the existing Guyan process plant.
This development is fully aligned with AMAK’s growth strategy announced in September 2024, which is focused on expanding its resource base, diversifying across multiple commodities, scaling production capacity, and deepening exploration activities to unlock long-term value.
Commercial production from the project is expected to commence in the first quarter of 2026, marking an important milestone in the company’s journey. The project will contribute to sustaining gold production and enhance future returns in line with the company’s strategy for expansion and sustainable growth.
Moreover, the site holds promising long-term potential with the Company now assessing the possible future transition from the initial phase of open-pit mining to underground mining, as the company has successfully achieved at its neighboring Guyan gold mine. It's clear synergies with the Guyan mine and processing plant ensure low capital start-up and reduced operating costs through shared infrastructure and synergistic efficiencies
The Khutainah deposit also benefits from simple and proven metallurgical properties, providing confidence in project execution and reliable recovery rates.
It will also increase the local content contribution by creating new job opportunities, support local communities, and drive development across the Najran region.
Geoff Day, CEO of AMAK, said: “Issuing the Khutainah mine license is a proud moment for us. It’s another clear sign that our growth strategy, which we announced last year, is delivering results. This license strengthens our gold portfolio, creates jobs, and helps us play a bigger role in achieving Saudi Arabia’s Vision 2030 ambitions for mining. Coming online at a time of record high gold prices, Khutainah provides immediate ounces to our life-of-mine profile (LOM), delivering strong value for both the company and our shareholders.”
“With its proximity to AMAK’s Guyan gold mine, Khutainah adds depth to the company’s gold cluster in Najran Province, reinforcing its long-term growth platform in the Kingdom’s southern region. Equally important, it demonstrates our ability to take projects right through the mining lifecycle-from exploration to production in a disciplined, value-generating timeframe. With the Khutainah mining lease now granted, our exploration team are actively exploring a number of our neighbouring leases which are also highly prospective in terms of adding additional gold resources to our portfolio and deliver sustained returns well into the future.”, he concluded.
True to its core values of safety, sustainability, and community development, AMAK continues its journey toward leadership. With the Khutainah mine entering the production phase, the company is not only creating value for its shareholders but is also contributing to the Kingdom’s aspiration of making mining the third pillar of the national economy.
AMAK is diligently intensifying its exploration efforts across various regions of the Kingdom, aiming to expand its mineral resource base, strengthen its portfolio, and advance future projects. These efforts ensure sustainable returns and maximize value for shareholders, while reflecting the company’s commitment to the community and the environment, and its active role in supporting the national economy.
