The Group has already signed multiple JVs with the world's leading players in the Mining and Metals sectors and continues to attract foreign direct investments.
Khnaiguiyah Mine and Plant
The Khnaiguiyah Zinc, Copper and Manganese Project is a vital contributor to Saudi Arabia's Vision 2030, and is situated 170 km southwest of Riyadh. A Feasibility Study has been completed and development is commencing.
Following the Ministry of Industry and Mineral Resources' (MIM) announcement that the Consortium of Moxico Ajlan & Bros Mining had successfully secured the project through the first auction, with a winning bid of USD 73 million, the consortium swiftly commenced operations.
The Khnaiguiyah project hosts a JORC-compliant mineral resource of 70.4 million tonnes, including 173 million tonnes of proven and probable reserves, containing approximately 1.5 million tonnes of zinc. With a mine life exceeding 17 years, the project is expected to produce approximately 200,000 tonnes of zinc concentrate (55% grade) and 50,000 tonnes of copper concentrate (24% grade).
The consortium has strategically decided to construct an open pit mine and two separate processing plants:
Manganese Plant:
The plant production capacity of 450,000 tpa, is already under construction, with production scheduled to begin in Q3 2025.
Zinc and Copper Plant:
Designed to produce over 4 Mtpa, this plant is in the final stages of engineering design. Construction is expected to commence in Q1 2026, with production anticipated by Q1 2028.
This phased development underscores the consortium's dedication to fulfilling its commitments while advancing a project of national and strategic significance.
This flagship project will serve as a blueprint for scalable development, with the ambition to replicate its success across ABM's broader portfolio of high-potential mining assets, driving long-term value creation and contributing to the Kingdom's strategic mining and industrial objectives.
Greenfield Exploration sites
The group is exploring six exploration sites with the objective of discovering and delineating mineral resources with the potential for near-term production.
Umm Maru and Umm Surayha
These two exploration sites are located within the Riyadh administrative region and are part of the Halaban Complex, characterized by gabbro and diorite rocks, along with significant granite formations. Surface sampling, trenching, geochemical sampling, and ground magnetic geophysics have been completed. We are scheduled to commence diamond drilling.
Jabal Dalfa and Umm Shat Gharab
These exploration sites are situated on rock formations belonging to the Halaban Complex, with gabbro and diorite dominating the outcropping units, alongside a wide range of granitic intrusions. A ground magnetic survey, pilot trenching, and reverse circulation (RC) drilling have been conducted. Further exploration efforts, including drilling and geophysical surveys, are being implemented.
Masana Masagha
Located in the Asir region to the south, this site is dominated by diorite, granite, and granodiorite. Quartz veining within coarse granitic units is associated with shear zones and mafic dykes. Iron oxide alteration and traces of sulfides and malachite are seen. Surface sampling, trenching, and geochemical sampling have been completed.
Afif
Located close to the town of Afif, host lithologies include metavolcanic rocks and exhalative units including chert. Zinc, copper, and gold mineralization have been identified in trench samples.
Exploration with Partners
ABM with partners successfully secured the following licenses in 2024-2025.
Bir Umq
This is an advanced stage exploration collaboration with Norin Mining. Extensive geological work has been conducted since award, identifying 14 gold targets, with five selected for focused drilling. To confirm continuity of gold mineralization, 3,950 meters of Diamond drilling is underway.
Stream sediment sampling has been completed across the licence to identify additional prospective areas. Safety & ESG initiatives have been launched, including sponsorship of community groups including a school renovation, following a community needs assessment.
Hajjar South
A brownfield exploration license targeting gold, copper, zinc, and lead. The project aims to discover 2 Million ounces of gold and 300,000 tonnes of copper.
Target Grades:
• Gold: 1 g/t (open-pit) and 2.2 g/t (underground)
• Copper: 0.8% (open-pit) and 2.0% (underground)
Total budget is SAR 209 Million, with a financial guarantee of SAR 20.9 Million (10%). Following success in the auction and completion of legal documentation, exploration is being rapidly implemented.
Jabal Sayyid
A greenfield exploration license targeting the discovery of at least 1 million ounces of gold at an average grade of 3 g/t, and 500,000 tonnes of copper at an average grade of 1.2%.
Following success in the auction and completion of legal documentation, exploration will accelerate in future.
Future Auctions
Further auctions will be held through 2026 and 2027. ABM is in the process of evaluating opportunities and is open to entering further bids for these on a sole or consortium basis.