Zijin Mining Wins Bid for Mineralized Belt Project in Saudi Arabia

According to Zijin Mining, on March 18, the Saudi Arabian Ministry of Industry and Mineral Resources announced the results of the first round of mineralized zone bidding projects for 2024. A consortium led by Zijin Mining and partnered with the Ajlan Brothers Mining Company of Saudi Arabia won the bid for Block JABAL SAYID - 2, covering an area of 1,061 square kilometers, with a commitment to invest 116 million yuan in exploration. It is understood that the Jabal Sayid mineralized belt is located in the northern part of the Jeddah Terrane and is an important volcanogenic massive sulphide (VMS) ore belt with a long history of mining. Historically, it has produced over 2 million ounces of gold.