https://www.miningweekly.com

Kefi upbeat about Saudi exploration prospects

5th September 2016

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Aim-listed gold explorer and developer Kefi Minerals on Monday said it was seeing encouraging signs from the Saudi Arabian government regarding its minerals and metals policy.

The company noted that, with the creation of a new energy, industry and minerals resource ministry, headed by Khalid al-Falih – currently also the chairperson of State-owned oil company Saudi Aramco – new policies would be implemented to further encourage minerals exploration and development.

The ministry will handle oil and gas extraction, power generation and distribution, mining and industrial development.

Kefi operates the 40%-owned Jibal Qutman project, in Saudi Arabia, with mineral resources totalling 700 000 oz. The other 60% is owned by Artar.

The two companies expect new mining policy in the kingdom, which has low exploration, development and operating costs by industry standards, to be issued before year-end. The policy review will also impact Kefi’s plans for developing a heap-leach gold project at Jibal Qutman.

Further, it noted that the Saudi Industrial Development Fund provides loans for up to 75% of the capital cost of mine development at nominal interest rates.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.133 0.17s - 106pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: