Al Masane Al Kobra Mining Company was established in 2007, and during 2011 Armico contributed with 10% into the company’s capital which was worth 500 million Saudi Riyals.
The Shareholders’ Extraordinary General Assembly on 9/12/2012 approved the increase of Company’s capital, from 500 million Saudi Riyals to 550 million Riyals, thus issuing 5 million shares in Par Value equals to 10 and 20 Saudi Riyals. In 2013, the Company subscribed the shares resulted from the capital increase with an amount of (3.021) million shares, raising the contribution of the company to 15.49%.
On 30/03/2015, the General Assembly decided to increase the Company's capital to become 740 million Saudi Riyals; by transferring (190) million Riyals from the share premium account and allocated 19 shares for every 55 shares owned by the shareholder, of which the Arab Mining Company's share increase reached about 2.94 million shares.
During 2016, the company increased its quthorized share capital by SAR 40 million to become SAR 780 million. and issued 4 million shares with nominal value SAR 10 and SAR 10 premium.
Al Masane Mining is located in south-west of Saudi Arabia, 1620 meters above sea level and 640 kilometers south-east of Jeddah, 414 km away from Jizan port on the Red Sea, which is located 835 km far from the city of Jeddah. The project site is linked to Najran with a paved road, and is near some of the populated areas, such as; Khamis Mushait city 190 km, Abha city about 220 km to the west, and the city of Najran; 260 km to the south-west.
Geological studies carried out in the region showed existence of minerals within three main zones in area owned by company which are; Saadah, Al Houra, and Moyeath. The studies also showed that Saadah and Al Houra zones are located within volcanic formations containing two series of Mafic and Felsic rocks overlapping with Chert and Shale rocks. As for Moyeath’s zone, it is located along the surface and it is incompatible with Felsic volcanic and Shale rocks. Most major Sulphide minerals found in the three zones are Pyrite, Sphalerite and Chalcopyrite, whereas precious metals such as gold and silver exist in the form of Tetrahedrite, Tellurides, and Electrum.
The Company's Products and Design Production Capacity:
- Copper mineral concentrates 34,000 tons
- Zinc metal concentrates 45,000 tons
- Gold alloys 7600 ounce
- Silver Alloys 193,000 ounce
To view the Company’s Gallery, click here.
Contact Information:
- Main office: Najran- Kingdom of Saudi Arabia
- Website: www.amak.com.sa
