Midana Exploration Pty Ltd (Hancock Prospecting) and Saudi Arabian Mining Company (Ma’aden) representatives attended a Round 9 licence award ceremony held during the Future Minerals Forum in Riyadh on 14 January 2026; a ceremony that follows the recent successful bid for five exploration licenses in the Nabita Ad-Duwayhi Gold-Belt of the Kingdom where the Hancock-Ma’aden joint venture will conduct its initial exploration activities.
In December 2025, Maaden and Hancock entered a joint venture to accelerate exploration efforts. The joint venture will conduct exploration, development, mining, sales and marketing of minerals in licensed areas in the Kingdom of Saudi Arabia.
Gina Rinehart, Executive Chairman, Hancock said: “We are excited by the Kingdom’s ambition to build a world-leading mining industry outlined in its ‘Vision 2030’ and well reflected in its pro mining policies. Our company group brings substantial experience across exploration, project development and operations, including the rare distinction of building the $10 billion mega Roy project both on time and on budget, a mega project built successfully in record time and including some of the world’s largest mining equipment. In Australia, we strive to be the best mining company. We will also be working in Saudi Arabia with great enthusiasm.”
Bob Wilt, CEO, Ma’aden, said: “We have been actively ramping up our exploration efforts across the Kingdom. Working in partnership with Hancock, this program will speed up discovery. It also ensures we can build, develop and operate at pace and scale, all while developing a talent pipeline and a global mineral hub.”
Garry Korte, CEO, Hancock, said: “Hancock is excited to start work in such a pro mining country. Driven by our Chair’s vision and enthusiasm, Hancock has a deep commitment to innovation, technology and continuous improvement – all key to our endeavours to also bring success in the Saudi Arabian mining industry.”
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