KEFI Gold and Copper, a prominent gold and copper exploration and development company, made headlines on Monday with the announcement of a significant discovery in the Hawiah Copper-Gold district of Saudi Arabia. The company, operating through its joint venture Gold & Minerals (GMCO), revealed the unearthing of a third deposit rich in copper, gold, zinc, and silver.

The newfound deposit, named Abu Salal, marks the latest addition to the cluster of discoveries within the Hawiah Copper-Gold district. This district, renowned for its mineral-rich terrain, saw its initial breakthrough with the Hawiah discovery in 2019, followed by the Al Godyer discovery in 2022. The remarkable series of findings have firmly positioned the Hawiah project among the top-ranking base metals ventures in Saudi Arabia.

Situated approximately 50 kilometers south of GMCO's flagship Hawiah Copper-Gold project, the Abu Salal VMS deposit is strategically located in the central region of the Wadi Bidah Mineral Belt. This area encompasses GMCO's exploration licenses for Abu Salal North and South, making it a pivotal zone for the company's ongoing exploration endeavors.

KEFI Gold and Copper, leveraging its early entry into the Saudi Arabian mining sector, has secured a portfolio of highly prospective licenses in the region. This strategic advantage has empowered the company to maintain an active exploration agenda, with annual expenditures averaging around $20 million. The commitment to exploration activities underscores KEFI's confidence in uncovering additional mineral deposits and expanding upon existing discoveries within the region.

Meanwhile, Ivanhoe Electric, in partnership with the state-owned mining entity Ma’aden, has also intensified its exploration efforts in Saudi Arabia. With a significant investment exceeding $60 million allocated to exploration initiatives, Ivanhoe Electric has acquired licenses in and around the Hawiah area, solidifying the district as one of its primary exploration priorities within the Saudi Arabian landscape.

The GMCO joint venture, a collaborative effort between KEFI Gold and Copper and the Saudi-based ARTAR (Abdul Rahman Saad Al-Rashid Co), represents a strategic alliance aimed at maximizing the potential of mineral exploration and development in Saudi Arabia. Through synergistic partnerships and concerted efforts, GMCO is poised to further its exploration activities and capitalize on the immense mineral wealth present in the Hawiah Copper-Gold district.

The discovery of the Abu Salal deposit marks a significant milestone in the ongoing exploration efforts within the Hawiah Copper-Gold district of Saudi Arabia. With multiple deposits identified and a conducive regulatory environment, the region presents promising opportunities for companies like KEFI Gold and Copper to unlock the full potential of its mineral resources. As exploration activities intensify and partnerships flourish, the future of mineral exploration and development in Saudi Arabia appears increasingly bright.