Mineral exploration is a core component of our strategic growth we aim to maintain a pipeline of resources to sustain, grow and diversify our business. The role of Ma’aden’s Exploration division is to explore, discover and evaluate new mineral resources to replace or replenish current ore reserves that are being consumed by our rapidly growing businesses.
The Saudi Deputy Ministry of Mineral Resources (DMMR) grants our exploration licenses, currently we hold licenses across the mineral rich regions in the Kingdom, We also continue to apply for new licenses.
In 2019 we increase Exploration budget to 250SR million (US$27 66.7 million) focusing on brownfield drilling, as well as assessment of potential greenfield targets, we continued drilling at prospects where our recent exploration activities have identified additional new mineral deposits which will be followed to increase our confidence level.
We conducted a full gap analysis of our safety and environmental procedures previously, and implemented the resulting recommendations. One of these include the real time satellite tracking of all field vehicles operating in remote desert areas to allow rapid response in case of emergency. Additionally, We make every effort to minimize our environmental footprint at exploration sites. We perform regular audits of our sites to ensure full environmental compliance.
Our current exploration activities are geared towards delivering Ma'aden's production goals under its 2025 strategy, we are working on
- Focusing on key target areas close to our existing operations.
- Expanding the available exploration footprint by lodging new exploration license applications over prospective mineralized belts.
- Starting the geological study of the areas under our licenses and executing a comparison study between current mining sites and other Exploration location to established a link to for better understanding.
The 2025 strategy focuses on accelerating Exploration activities in our licenses where the gold occurrences been located in Arabian shield as we divide the shield into three areas called: Northern, Central and Southern, We are moving now from finding target into evaluation process.
Where the gold occurrence
We have invested heavily in modern exploration technology, such as regional airborne surveys, geochemical surveys and remote sensing data to fully evaluate existing and new exploration licenses.