Saudi Arabian Mining Co. — M&A Activity 2023

Jan 11, 2023

Saudi Arabian Mining Company (Ma’aden) announces the signing of a Joint Venture Agreement with Barrick Gold (Singapore) Pte Limited an affiliate of Barrick Gold Corporation (Barrick) to form a new Joint Venture company to explore on Jabal Sayid south

1211 · 11/01/2023 08:52:03 · Announcement #71657 · View on Saudi Exchange

Saudi Arabian Mining Company (Ma’aden) announces the signing of a Joint Venture Agreement with Barrick Gold (Singapore) Pte Limited an affiliate of Barrick Gold Corporation (Barrick) to form a new Joint Venture company to explore on Jabal Sayid south

Element List

Explanation

Announcement Detail

Saudi Arabian Mining Company (Ma’aden) announces the signing of a Joint Venture Agreement on Tuesday, 10 January 2023 corresponding (17/06/1444H) with Barrick Gold (Singapore) Pte Limited an affiliate of Barrick Gold Corporation (Barrick) to establish a limited liability company between the two parties on the Jabal Sayid south exploration licenses owned by Ma’aden, with a 50/50 ownership between Ma’aden and Barrick. The objective of the new company is to expedite the exploration activities in Jabal Sayid south.

Ma’aden’s contribution for the exploration program will be determined at a future stage. The new company will be headquartered in the Kingdom of Saudi Arabia.

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